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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 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 is direct and indirect flow of funds?
Supplying funds directly involves the surplus unit (person with funds available) lending to a deficit unit (person needing funds) in a financial market (no intermediaries such as banks are needed in the exchange). Indirectly supplying funds means you are giving an ADI (Authorised Deposit-taking Institution) your funds and they will in turn supply this to deficit units.The fundamental difference is that when you are directly supplying funds you are personally becoming involved in the transaction, whereas indirectly, you are giving funds to a bank, for example, and they are giving you are return on your investment, with which they can do what they please (give it to any deficit unit).
How do you change federal funds rate?
The federal funds rate is the interest rate banks charge on loans in the federal funds market. The federal funds rate is not set administratively by the Fed. Instead, the rate is determined by the supply of reserves relative to the demand for them.
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 remittance number?
payment + remittance department
How do you spell remittance.?
The correct spelling is remittance (payment).
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.
Give you an example of letter of remittance?
how make remittance letter
What is letter of remittance in business letter?
definition of remittance letter
When was The Remittance Man created?
The Remittance Man was created on 1913-09-13.
How do you use remittance in a sentence?
This is the date when the remittance, or payment you send, must be received.
