What Is a Remittance Saving ? 

A remittance is a payment of money that is transferred to another party. Broadly speaking, any payment of an invoice or a bill can be called a remittance. 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.Most remittances are made by foreign workers to family members in their home countries. The most common way of making a remittance is by using an electronic payment system through a bank or a money transfer service such as Western Union. People who use these options are generally charged a fee. Transfers can take as little as ten minutes to reach the recipient.Remit saving deposit is for those people who are engaged in foreign employment and their family members. This ensures remittance comes through the direct banking channel of saving account.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.