What is remittance..?
Answers
Answer:
A remittance is a payment of money that is transferred to another party. ... However, the term is most often used nowadays to describe a sum of money sent by someone working abroad to his or her family back home. The term is derived from the word remit, which means to send back.
Explanation:
Remittance is the act of sending in money to pay for something. An example of remittance is what a customer sends in the mail when a bill is received. ... Remittance is defined as money that is sent to pay for something. An example of remittance is the check sent to pay for the treadmill you bought on TV.
Answer:
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Explanation:
A remittance is a non-commercial transfer of money by a foreign worker, a member of a diaspora community, or a citizen with familial ties abroad, for household income in their home country or homeland.