What does remittance mean?
Remittance is derived from the word ‘remit’ which means ‘to send back’. Remittance refers to money that is sent or transferred to another party, usually overseas. Remittances can be sent via a wire transfer, electronic payment system, mail, draft, or cheque.
What is the pronunciation of remit?
Word forms: plural, 3rd person singular present tense remits, present participle remitting , past tense, past participle remitted pronunciation note: The noun is pronounced (riːmɪt ). The verb is pronounced (rɪmɪt ).