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Remittance

Remittance can also refer to the accounting concept of a monetary payment transferred by a customer to a business; see remittance advice. For a person who was exiled and sent an allowance on condition that they did not return home, see remittance man. A remittance is a transfer of money by a foreign worker to his or her home country. Money sent home by migrants constitutes the second largest financial inflow to many developing countries, exceeding international aid.

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