👉 A remitter is a person who is responsible for sending or receiving money, often in relation to a specific transaction. This type of remittance involves transferring funds between different accounts or parties involved in transactions. The purpose of remitting is typically to facilitate financial transactions and minimize the risk associated with currency exchange rates and other financial transactions.
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What is the definition of Remitter? 🙋
👉 Remitter, in accounting and finance, refers to a person or entity who is responsible for transmitting payments from one party to another. This can include individuals such as banks, credit unions, or other financial institutions, or it could refer to companies that are involved in collecting payments from customers. The term "remitter" is often used to describe the process of transferring funds between different parties electronically, typically through a bank account or financial institution's online platform.
