Definitions

1. noun

The act of sending or paying money, especially as payment for something.

“The company will send a remittance to the vendor for the services rendered.”

2. noun

A payment or allowance made to someone, especially in respect of a pension or a benefit.

“He receives a monthly remittance from the government for his disability pension.”

3. noun

A payment made by a person or organization to a financial institution, such as a bank, to cover a debt or financial obligation.

“The company made a remittance to the bank to settle the outstanding loan.”

4. noun

A payment or transfer of money, especially through a bank or financial institution.

“The remittance was processed and credited to her account within a few hours.”

5. verb

To send or pay money, especially as payment for something.

“The company will remit the payment to the vendor as soon as possible.”