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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.
5 mar 2024 · Key Takeaways. A remittance is money sent to another party, usually in another country. Typically, the sender is a foreign worker and the recipient is a relative...
28 wrz 2022 · A remittance refers to a transfer of funds from one person to another, typically abroad, as a gift or payment. Remittances can be sent via bank transfer and many other forms of payments such as cheques, wire transfer or money transfer services.
9 lis 2017 · In other words, a remittance is the sum of money being sent, generally to someplace abroad. In common usage, the word can refer to moving money by any method - a wire transfer, online transfer, by mail or using a credit or debit card to move the money.
Payment remittance is a money exchange using a transfer. One party will send funds to another individual or entity, typically using electronic transfer or wire submission. Transactions of this kind are often done internationally and can be completed almost immediately.
Remittances are typically transfers from one person to anoth-er person or household. They are targeted to specific needs of the recipients and thus tend to reduce poverty. Cross-country analyses generally find that remittances have reduced the share of poor people in the population (Adams and Page 2003, 2005; Gupta, Pattillo, and Wagh 2009).
