Pronunciation: [ɹɪmˈɪtəbə͡l] (IPA) 
The word "remittable" (/rəˈmɪtəbəl/) is spelled with two "m's" and two "t's". The first "m" comes after the prefix "re-", which means "back" or "again". The second "m" is in the root word "mit", meaning "to send". Similarly, the first "t" comes after the prefix "re-", while the second "t" is in the root word "mit". The suffix "-able" is then added to indicate that the word can be remitted or sent back.
Remittable is an adjective that refers to the ability or possibility of sending money or payments to someone, typically in another location or country. It is derived from the verb "remit," which means to send money or payment to another person or place, usually through a financial institution or a money transfer service.
In the context of financial transactions, remittable implies that the funds can be transferred or sent to the intended recipient. It suggests that the money is in a format or state that allows it to be easily and legally transmitted to another party.
The term is commonly used in the banking and finance industry, particularly when discussing international money transfers. Remittable funds can include wages, salaries, investment returns, or any other form of monetary remuneration that is authorized for transfer to individuals or entities elsewhere.
When funds are considered remittable, it indicates that they meet the necessary criteria and comply with the legal requirements for international transfers, such as anti-money laundering regulations, taxation laws, and foreign currency exchange regulations. The term also implies that the funds are readily available for transfer, free from any restrictions or constraints.
Overall, remittable emphasizes the capability and suitability of funds for onward transmission, ensuring that they can be safely and legally transferred to the intended recipient, often for the purpose of personal or business transactions conducted across national boundaries.
The word remittable is derived from the verb remittance, which itself is derived from Latin remittere, meaning to send back or to let go back. The suffix -able is added to remittance to form remittable, meaning capable of being remitted or able to be sent back.
