funds remittance

Funds remittance is the process of transferring money from one individual or entity to another, often across different locations or countries. It typically involves a sender instructing a financial service, such as a bank or a remittance company, to move funds to a recipient’s account or cash pickup point. Remittances are common for supporting family members or conducting international business. The process ensures secure and efficient transfer of money, often involving currency exchange and transfer fees. In essence, it is a way to send money safely and quickly over distances.