See documentary collection. remitter "Remitter" means a person who purchases an instrument from the issuer if the instrument is payable to an identified person other than the purchaser. A merchant or seller who requests a remitter payment, meaning some form of payment other than cash or personal check, usually requests it to lower his or her risk. Definition of Remitter: In a documentary collection, an alternative name given to the seller who forwards documents to the buyer through banks. In addition to money orders, a remitter line is present on cashier's checks, teller checks and some traveler's checks. ... money remitters must be licensed with the financial market supervisory authority in accordance with the requirements of banking law (article 15(1) of the Banking Act in connection with article 3(1) and (3) of the Banking … RECEIVER and BENEFICIARY are the same that is the payee. Meaning of money remitter. Proper usage and sense of the word/phrase money remitter. SENDER is REMITTER. She must be the person who pays for the check and its issuance fees. A bank code is a series of numbers that is used to identify banks around the world, for example: BSB (Bank-State-Branch) BIC (Business Identification Code) SWIFT Code (standard format of Business Identification Codes) CHIPS (Clearing House Inter-Bank Payment System) – US and Canada only; NCC (National Clearing Code) BSC (Bank Sort Code) What does money remitter mean? money remitter. You can call into your local bank branch and sort it out in person or through your bank’s online banking system or app. Beyond this requirement, the remitter may be the payee or a third party unless otherwise prohibited by local or state law. Information about money remitter in the Titi Tudorancea encyclopedia: no-nonsense, concise definitions. As a result, the payee receives no funds from the bad check. remitter: the principle by which a person out of possession of land to which he had a good title is adjudged to regain this when he again enters into possession of the land. Consequently, many banks only issue money orders with face amounts of $1,000 or less and require people who need larger negotiable instruments to buy cashier's checks. (15) " Remitter" means a person who purchases an instrument from its issuer if the instrument is payable to an identified person other than the purchaser. Banks pre-print the name of the purchaser of a cashier's check into the remitter field and this resolves issues related to the identity of the remitter. A common way to pay a remittance is by sending an international transfer through your bank. If you’re sending money abroad from the US, you might need a little more help on how to make an international wire transfer. Definition of money remitter in the Titi Tudorancea Encyclopedia. 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