Remittance Application Forms - Page 2

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Commonly Asked Questions about Remittance Application Forms

What is the use of remittance form?

A remittance form is a document designed to streamline the process of transferring money from one party to another.

What is the meaning of remittance application?

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 their family back home. The term is derived from the word remit, which means to send back.

What is a remittance form for?

A remittance voucher or payment form provides the CRA with information we need to apply your payment correctly. These vouchers must accompany payments you make in person at financial institutions, and should be included with payments you send to the CRA by mail.

What is the purpose of the remittance?

Remittance means send back. In terms of money, a remittance is the sending of money to a recipient who lives abroad. Most families living in slow-growing economies and developing nations rely heavily on these remittances as their main source of income.

What is a remittance application form?

Remittance Smart Application Form is a PDF editable form that is used for Remittance Application for Telegraphic Transfer (TT)/Foreign Demand Draft, RENTAS, GIRO and Intrabank. This form is not available at the branches and customer need to download from CIMB website.

What is a form of remittance?

WHEN MIGRANTS send home part of their earnings in the form. of either cash or goods to support their families, these transfers are known as workers or migrant remittances. They have been growing rapidly in the past few years and now represent the largest source of foreign income for many developing economies.

What is a remittance document?

The remittance letter is merely a notification from the customer making the payment to the supplier or company that the invoice or balance owed has been paid. However, a remittance letter is not proof of payment, nor does it prove that the enclosed check cleared properly through the customers bank.