Remittance To the United Kingdom

A financial transfer from outside the country to a recipient in the UK is known as a remittance. It is transmitted by a financial institution or company that levies fees for sending money to a recipient in the UK. The funds are subsequently transferred to the UK recipient in the designated currency (in this case, GBP). British remittances are frequently sent from people or businesses residing outside of the UK to support their family members there. For those living in the United Kingdom, these UK remittance payments are a substantial source of foreign cash flows.
UK remittances typically have higher GBP amounts — often at least a few thousand GBP. To make things easier, ACH transfers to

Originally published at https://moneyaccounts.com.