👉 In the context of financial transactions, a "remittance" refers to the act of transferring money from one country to another. This is often done for various reasons such as personal expenses or business purposes. Remittances can be made in many forms, including cash, cheques, bank transfers, and electronic funds transfer (EFT) services. The purpose of remittances is usually to help individuals manage their finances more efficiently, particularly when they are traveling abroad for work or education. In the
