remittance

USAGE SUMMARY

The word 'remittance' is correct and usable in written English.
You can use it when referring to a payment or transfer of money, usually from one person or organization to another, especially abroad. For example, "The company will send a remittance through an international money transfer service to the recipient in Mexico."

✓ Grammatically correct

News & Media

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

60 human-written examples

If it goes ahead with its decision, it would be the second time the bank has warned Somali remittance companies of pending account closures; in October 2014, the bank reversed a prior decision to close their accounts.

The Guardian

In the US, the Sunrise Community Banks based in Minnesota closed all Somali-American remittance accounts in 2011, following two high-profile prosecutions of Somali-Americans in the city.

The Guardian

Somalia might be one of the poorest nations in the world, but its remittance system is widely seen as a model for other nations.

The Guardian - Opinion

While recognising that money could be transferred to terrorists in Somalia, its response is not to ban the remittance system but to try to make it more transparent.

The Guardian - Opinion

Flights were few and expensive and spare cash was instead sent back home, establishing a remittance economy that exists to this day.

The Guardian

Triple that number would not be able to access basic needs if the remittance flows stop".

The Guardian

As a bank that specialises in remittances, and one of a few that still does business with Somali remittance companies, Merchants Bank of California is considered one of the key links in the chain.

The Guardian

The remittance services sector has been choked in the UK, as well.

The Guardian

In May 2013, Barclays, the last major bank to provide remittance services to Somalia, announced plans to close the accounts of about 250 money transfer businesses, citing concerns about money laundering.

The Guardian

"The potential impact of the closure of the remittance industry in Somalia would be devastating," Ali said.

The Guardian

Another is a cut-price remittance system, NationHela, that lets Kenyans abroad wire money to a sort of debit card held by their folks back home.The digital revolution has not yet upended Africa's newspapers, but Mr Gitahi acknowledges that one day it will, as more Africans get smartphones and decent bandwidth.

The Economist

Expert writing Tips

Best practice

Be clear about the direction of the "remittance". Specify who is sending the money and to whom it is being sent.

Common error

Avoid using "remittance" when referring to regular payments within the same country or for business transactions. "Remittance" typically implies a transfer from a foreign worker to their home country.

Linguistic Context

The primary grammatical function of "remittance" is as a noun, referring to a sum of money sent, especially by mail, in payment for goods or services or as a gift. Ludwig AI confirms this usage, providing numerous examples from reliable sources.

Expression frequency: Very common

Frequent in

News & Media

60%

Formal & Business

30%

Science

10%

Less common in

Encyclopedias

0%

Wiki

0%

Reference

0%

Ludwig's WRAP-UP

In summary, "remittance" functions as a noun that describes a sum of money sent to another person or entity, often internationally. Ludwig AI validates this usage with a plethora of real-world examples. The term is most frequently found in News & Media and Formal & Business contexts, maintaining a neutral tone. While alternatives like "money transfer" exist, "remittance" specifically implies a cross-border transaction, often from a foreign worker to family. Understanding its specific usage helps avoid confusion with general payment terms.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

money transfer

Focuses on the action of transferring funds, rather than the payment itself.

funds transfer

Similar to money transfer, but emphasizes the movement of funds.

payment transfer

Highlights the payment aspect and the act of transferring it.

money transmission

More formal term for transferring money.

wire transfer

Specifies a method of electronic funds transfer.

electronic transfer

Broad term for any transfer conducted electronically.

overseas transfer

Highlights that the transfer is international.

international money transfer

Specifically refers to transfers across international borders.

financial transfer

A more general term that includes various types of financial transactions.

cash transfer

Emphasizes that the transfer involves cash.

FAQs

How is "remittance" typically used in a sentence?

"Remittance" is often used to describe money sent by migrants to their families back home. For example, "The country relies heavily on "remittance payments" from its citizens working abroad".

What are some alternatives to "remittance"?

Depending on the context, you can use alternatives like "money transfer", "funds transfer", or "payment".

Is it appropriate to use "remittance" for domestic money transfers?

While technically correct, "remittance" is usually reserved for international transfers, especially those made by workers to family members in their home country. For domestic transfers, "money transfer" or "payment" are more common.

What impact do remittances have on developing countries?

Remittances can be a significant source of income for families in developing countries, often exceeding foreign aid. They contribute to household consumption, education, and healthcare.