Does Amount Remitted Mean?

A remittance is a payment of money that is transferred to another party. ... However, the term is most often used nowadays to describe a sum of money sent by someone working abroad to his or her family back home. The term is derived from the word remit, which means to send back.

Does remitted mean forgiven?

to pardon or forgive (a sin, offense, etc.). to slacken; abate; relax: to remit watchfulness.

What is cash remitted?

A remittance is a transfer of funds. A cash remittance is when the sender deposits cash instead of using a debit or credit card, cheque, or direct bank transfer to remit. A cash remittance requires the sender to provide their information such as full name, local address, the purpose of the remit.