What is a remitter?

A remitter is a person or entity that sends money or funds to another party. Remitters are typically individuals who send money to family or friends in another country for personal reasons, or businesses that make payments to overseas suppliers or contractors.

Remitters can use various methods to send money, such as bank transfers, money transfer services, or online payment platforms. They may also incur fees for sending money, depending on the method used and the amount being sent.

Remitters are often required to provide identification and other documentation when sending money to comply with anti-money laundering and counter-terrorism financing regulations. This is to ensure that the funds being sent are legitimate and not used for illegal activities.

Overall, remitters play an important role in facilitating the movement of money across borders and supporting individuals and businesses in conducting transactions internationally.