What Does Remit Mean?
24 November 2025
Discover the true meaning of “remit” — from its origins to its modern role in connecting families across borders. Learn how remittances empower communities and how OTT Remit makes sending money faster, safer, and more affordable.
In world that’s more connected than ever, money moves across borders every second — helping families, fueling businesses, and supporting communities. But have you ever stopped to think about the word we often use for this process — “remit”? What does “remit” mean?
Let’s explore what “remit” really means, how it’s used today, and why it represents so much more than just a financial transaction.
The Literal Definition of "Remit"
The world “remit” comes from the Latin remittere, which means “to send back.” In modern English, “to remit” generally means to send money or payment — especially from one person or place to another.
For example:
“I remit part of my income to my family overseas every month.”
Simply put, when you remit money, you are sending funds — often across countries or continents — to help someone else.
How "Remit" Is Commonly Used
Today, “remit” is most often used in the context of international money transfers. When someone living abroad sends money home to support loved ones, that payment is called a remit.
However, the word also appears in other contexts:
- Business and finance: Companies may remit payments to partners or suppliers.
- Taxes and fees: You might remit taxes, bills, or official payments to an organization.
- Everyday life: Anyone sending funds — locally or internationally — is technically remitting.
Still, the most meaningful use of the word relates to people remitting money to their families back home.
Global Facts About Remits
The global scale of remitting is truly impressive — and deeply impactful.
- Each year, people working abroad remit over $600 billion USD to low- and middle-income countries.
- India, Mexico, China, the Philippines, and Egypt are among the top countries receiving remittances.
- For many developing economies, remittances make up a major share of national income, often surpassing foreign investment or aid.
- Most remits are sent in small amounts, but together, they make a huge difference.
These numbers highlight that “to remit” isn’t just about money — it’s about connection, care, and community.
Why Remit Matters to Families Abroad
For millions of families, a remit is more than a transfer — it’s a lifeline.
They money sent home helps cover:
- Daily essentials: food, housing, healthcare, and education.
- Opportunities: small business investments, tuition fees, or saving for the future.
- Stability: remits help families weather economic hardship, inflation, or natural disasters.
Every time someone remits, they’re bridging the distance with love — turning their hard work abroad into comfort and hope for the people they care about most.
The Modern Way to Remit
As technology evolves, so does the way we remit. Gone are the days of long bank lines and high transfer fees.
Today, remittance apps like OTT Remit make sending money abroad:
- Faster — transfers can reach loved ones within minutes.
- Cheaper — with lower fees and better exchange rates.
- Safer — backed by security encryption and financial regulations.
- More convenient — send money anytime, anywhere, right from your phone.
Modern remitting is built on trust and technology — empowering people to send support home with ease and peace of mind.
Final Thoughts
The word “remit” may sound simple, but it carries deep meaning. It’s about more than sending money — it’s about sharing care across borders, lifting families, and building futures.
Each remit tells a story of love, responsibility, and resilience. And with platforms like OTT Remit, those stories can continue — faster, safer, and more affordably than ever before.
Ready to remit with confidence? Start your transfer today!
Disclaimer: The views and opinions expressed by the authors in this publication are their own and do not necessarily reflect the views of OTT Remit, OTT Financial Inc., and the OTT Group of Companies. This publication is provided for general information purposes only and should not be considered as exhaustive or comprehensive in covering all aspects of the discussed topics. It is not intended to replace seeking advice from a specialist or professional.
How To Send Money with OTT Remit
Follow three simple steps to send money quickly and securely to loved ones anywhere in the world.
Sign up for an account
Enter your name and phone number to create an account with OTT Remit.
Enter money transfer details
Choose your destination country and select one of three remittance methods: Cash Pickup, Mobile Wallet, or Bank Deposit. Enter your recipient's information.
Pay for your transfer
Complete your remittance by making an INTERAC e-Transfer. It's that easy!
