Remittance: Definition, Understanding, Examples, Process

Remittance: Definition, Understanding, Examples, Process

What is Remittance? Generally speaking, sending money from one account to other as a payment or gift is called remittance. Particularly, remittance is used when a migrant worker working abroad sends money to his/her family or friends back to the origin country for non-commercial purposes. The origin of remittance is remit which means to send…