Word of the day | Remittance

Word of the day -  Remittance

A remittance is essentially transfers of funds between parties as a bill, an invoice or as a gift, typically across international borders.

However, "remittance" refers more broadly to the funds migrants send to their relatives in their home country while working and living abroad.

There are different ways to send remittances, but some common ones include banks, money transfer services and other online platforms.

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