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Remittance of funds can mean a lot many things, predominantly sending of money, transfer of money from one person (or account) to another person (or account).
The word remittance is most used for cross-border money transfer when it comes to migrant workers and them sending money from their host country back to their country of origin for purposes of family maintenance.
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What is remittance in transit?
Remittance in transit refers to a cross-border money transfer that is still in progress within the banking channel. The remitter's funds are snaking its way across to the beneficiary, and whilst it is in progress, the remittance (money transfer) is called or cited as remittance in transit.
What is the t t Remittance?
The T T Remittance, or Telegraphic Transfer Remittance, is a method of transferring money electronically from one bank account to another, often used for international transactions. It allows individuals or businesses to send funds quickly and securely, typically requiring the sender's and recipient's bank details. This method is favored for its efficiency and speed, although it may incur fees and exchange rate costs.
What is remittance company?
A remittance company is usually a licensed company that is authorised to do a cross-border money transfer (for purposes of remittance payments). These are usually MSBs (Money Service Businesses) or Exchange Companies. Nomenclature can vary from country to country. Industry classification is usually MSB, Remittance company, MTO, or Exchange Companies. Example of remittance companies are Xoom.com, Western Union, RIA Financial, MoneyGram, etc.
What is an ACH remittance?
This can have two meanings: ACH by de facto is a US concern, ACH stands for Automated Clearing House, which is in some manner a very antiquated system for clearing of cheques electronically. If a payment is being made to you via an ACH submitted cheque or if you are paying someone via ACH submitted cheque, this can be termed as an ACH remittance (in most circles this is called an ACH payment simply). However, if you are sending money cross-border (remittance) and are paying via an ACH cheque, this would correctly be termed as an ACH remittance. ACH remittances are usually done online on websites like Xoom.com, Remit2India.com, etc. where the financial instrument of choice to make the payment is your bank account, and you utilize the ACH system to present an e-check or electronic cheque (sometimes also called an Internet check) to make the payment for your remittance.
What are the American Funds' best performing funds currently?
As of now, some of the best performing American Funds include American Funds Growth Fund of America, American Funds New Perspective Fund, and American Funds EuroPacific Growth Fund. These funds have shown strong performance and growth in recent times.
What are sources of remittance?
This can be two things: 1. Originator of funds (i.e. the remitter), the person(s)/entity that initiated the funds transfer, and 2. Source of funds, implying what are the source of funds for the remittance, i.e. where is this money coming from.
What is remittance in transit?
Remittance in transit refers to a cross-border money transfer that is still in progress within the banking channel. The remitter's funds are snaking its way across to the beneficiary, and whilst it is in progress, the remittance (money transfer) is called or cited as remittance in transit.
Who is the director funds remittance and cash transfer department hfc bank London?
Mrs.Linda Scott
What is remittance and how does it work?
Remittances are funds transferred from migrants to their home country. They are the private savings of workers and families
Is mr morry harry international funds remittance cash transfer manager equity bank nigeria?
I would like to know if Morry Harry truly works for Equitty Bank Nigeria and if he is the International Funds Remittance cash transfer manager? His name has appeared on my e-mail and I would like to clarify this?
What is the purpose of Foreign Exchange Remittance Certificate?
The Foreign Exchange Remittance Certificate (FERC) is a document issued by authorized banks or financial institutions that verifies the remittance of funds from one country to another. Its primary purpose is to ensure compliance with foreign exchange regulations and to provide evidence of the transfer for both the sender and recipient. FERCs are often required for tax purposes, legal documentation, or to facilitate further transactions involving the remitted funds. Additionally, they help promote transparency in international money transfers.
What is the prefix of remittance?
The prefix of "remittance" is "re-."
How do you spell remittance.?
The correct spelling is remittance (payment).
What is the t t Remittance?
The T T Remittance, or Telegraphic Transfer Remittance, is a method of transferring money electronically from one bank account to another, often used for international transactions. It allows individuals or businesses to send funds quickly and securely, typically requiring the sender's and recipient's bank details. This method is favored for its efficiency and speed, although it may incur fees and exchange rate costs.
What is a sentence for remittance?
Remittance is, essentially, the act of paying. An example sentence would be: The cashier was patiently waiting for his remittance.
Who is the chief general manager-in-charge of funds remittance department of rbi?
As of my last update in October 2023, the specific individual holding the position of Chief General Manager-in-Charge of the Funds Remittance Department at the Reserve Bank of India (RBI) may not be publicly listed or could change frequently. For the most accurate and up-to-date information, it is advisable to check the official RBI website or recent announcements from the bank.
Give you an example of letter of remittance?
how make remittance letter
