Remittances are funds that individuals send back to their home country, typically to support family members or friends. These transfers often occur when people migrate to another country for work, sending a portion of their earnings back home. Remittances can significantly impact the economy of the recipient country, providing essential financial support for households. The process of sending remittances can be done through various methods, including banks, money transfer services, and mobile apps. Countries with large populations of migrants, such as Mexico and India, often receive substantial remittances, which can contribute to poverty reduction and economic development.