What Is a Remittance? "Remittance" refers to sending money from one person or group to another and commonly refers to sending money back to one's family in another country.
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. Money sent home by migrants competes with international aid as one of the largest financial inflows to developing countries.
In simple terms, a remittance is a sum of money sent from one party to another, usually across a geographical distance. While the term can apply to any money transfer, it is most famously used to describe the funds sent by migrant workers back to their families in their home countries.
A remittance is a financial transfer made from one party to another, often across borders or geographical locations. This term typically describes regular support payments from individuals to recipients who are often family members.
What is a remittance? (Plus, how to send them) | PayPal US
Our 2025 guide on remittance helps you safely and securely transfer money abroad. Understand how remittances work, from transaction fees to delivery times
What is a remittance transfer and what are my rights? Federal law defines “remittance transfers” as electronic transfers of more than $15, sent by consumers in the United States to people or companies in foreign countries through a remittance transfer provider.
Definition: Remittance is an amount of money. It is generally sent globally by a migrant worker to their family members in their home country. Purpose: The main motivation of remittance is family support. Moreover, it covers essential expenses like education, healthcare, and daily living costs.