remittance vs money transfer

Both 'remittance' and 'money transfer' are correct phrases, but they are used in different contexts. 'Remittance' refers to the sum of money sent, especially by mail, while 'money transfer' is the action of sending money from one person or place to another. They are not directly comparable as 'remittance' focuses on the money itself, whereas 'money transfer' focuses on the process of sending money.

Last updated: March 22, 2024 • 1030 views

remittance

The term 'remittance' is correct and commonly used in the context of sending money, especially to a distant place.

Use 'remittance' when referring to the sum of money sent, typically to a recipient in another location. It is often used in the context of international money transfers.

Examples:

She received a remittance from her family overseas.
The remittance was delayed due to a banking issue.

Show examples from the web [+]

Every remittance that migrants channel towards communal development purposes in their country of origin is matched by an equal amount by each of the institutional partners of the programme.
Opinion on the new tasks of Българска народна банка (Bulgarian National Bank) relating to the supervision of money remittance services (CON/ 2007/40)
No names, just remittance codes.
(b) by delivery or remittance of cheques made payable to the Office, or
Destination countries can furthermore effectively determine the direction of remittance flows by giving preferential immigration status to specific immigrant groups from certain countries or regions of origin.
Especially companies that employ a significant portion of migrants as well as financial services providers that facilitate remittance transfers should be encouraged to participate and to exercise their share of corporate social responsibility.
Money remittance, internally processed payments, large-value payment transactions ▌,
On 12 December 2007, at the request of the Българска народна банка (Bulgarian National Bank), the Governing Council adopted an Opinion on the introduction of a licensing regime for entities providing money remittance services (CON/ 2007/40) .
delivery or remittance of certified cheques which are made payable in euros to the Office;
transactions of money remittance as defined in point (13) of Article 4 of Directive 2007/64/EC;
Money remittance services where the cash, scriptural money or electronic-money is accepted by the payment service provider from the payment service user for the sole purpose of making a payment transaction and transferring the funds to the payee.
Money remittance services where the cash, scriptural money or electronic money is accepted by the payment service provider from the payment service user for the sole purpose of making a payment transaction and transferring the funds to the payee.
delivery or remittance of certified cheques which are made payable in ecus to the Office; (b) transfer in ecus to a giro account held by the Office;
Emphasises that the role and the contribution of diasporas to the development of their countries of origin, for example through remittance transfers and the development of associations and their networking, require more systematic attention.
Those bill-paying services should be treated as money remittance as defined in this Directive, unless the competent authorities consider the activity to fall under another payment service listed in the Annex.
the existence and amounts of restrictions on the realisability of investment property or the remittance of income and proceeds of disposal.
(b) by delivery or remittance of cheques made payable to the Office;
Insists on the need to reduce the cost of remittance transactions, especially at a time when migrants suffer severely from the crisis and cannot transfer as much to their country of origin;
(a) delivery or remittance of certified cheques which are made payable in ecus to the Office;(b) transfer in ecus to a giro account held by the Office; or (c) payment into a charge account held in ecus with the Office.
From remittance men to international spies.

Alternatives:

money sent
funds transferred
payment sent
sum of money transferred

money transfer

The term 'money transfer' is correct and commonly used when referring to the action of sending money from one person or place to another.

Use 'money transfer' when discussing the process of sending money, whether it is done through a bank, online service, or other means. It focuses on the act of transferring funds.