![]() If your parents send you a few hundred dollars as a birthday gift, that may be considered a remittance payment too. Also, if you are sent $1000 each money to the US from India as rent for your property in India, it may also be considered a remittance payment. To make the picture clearer, here are some examples of remittance payments: If you work in the United States and send 20% of your monthly earnings back home in India, it is a remittance payment. The term is primarily used in the context of international payments - however, more loosely, it is also sometimes used to refer to business payments made across international borders. ![]() The term ‘remittance’ comes from the word ‘remit or ‘to send back,’ and so ‘remittance payments’ refers to the amount of money transferred from one person to another - usually in that person’s home country. ![]() ![]() Remittance Guides What is Remittance and What Are Remittance Payments?
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