What is remittance in simple words?

A remittance is a payment of money that is transferred to another party. Broadly speaking, any payment of an invoice or a bill can be called a remittance. 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.

How do you use the word remittance?

Remittance sentence example

  1. Please send the booking form plus full remittance to the school.
  2. Please send remittance upon receipt of invoice to save reminders.
  3. Notes 1.
  4. Bank thereon is waiting to receive the remittance form.
  5. Here is the banking details for the immediate remittance of the fund into my account.

What is the base word of remittance?

The verb remit comes directly from Latin remittere “to send back, go back, return, release, let go,….” (The many Latin senses of remittere cover four and a half columns in the Oxford Latin Dictionary).

What is the Bengali meaning of reciprocated?

পরস্পর অদান-প্রদান করা, বিনিময় করা, প্রতিশোধ লত্তয়া, পরিশোধ করা

What is remittance in bank?

The term ‘remittance’ is derived from ‘remit’, meaning ‘to send back’. A bank remittance refers to the funds sent or transferred to another entity or account as payment for services or a product. Remittances can also be personal money transfers made to family and friends overseas and any sort of business payments.

What is remittance of money?

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 remittance in banking?

What is the synonym of reciprocate?

Some common synonyms of reciprocate are requite, retaliate, and return. While all these words mean “to give back usually in kind or in quantity,” reciprocate implies a mutual or equivalent exchange or a paying back of what one has received.

What is the meaning of reciprocating?

1 : to give and take mutually. 2 : to return in kind or degree reciprocate a compliment gracefully. intransitive verb. 1 : to make a return for something we hope to reciprocate for your kindness. 2 : to move forward and backward alternately a reciprocating valve.

What is remitter name?

The definition of a remitter is a person who sends a payment or a person who restores a situation without inflicting a punishment. An example of remitter is a person who pays a home mortgage bill. noun. 1. Someone who sends a payment to another.

What is meant by remittance in banks?