A remittance address is a specific postal address that businesses use, which is different from their main mailing address, to receive payments and invoices by mail.
When you need to make payments to a company, you may be given a remittance address. Remittance addresses may be called many things, including a remit address, a remit to address or even simply a billing address.
Why do businesses use remittance addresses?
When a business accepts a large number of payments and invoices, they typically go to a specific department. In order to help keep everything organized, businesses use remittance addresses to accept these payments and invoices so that they don’t get mixed in with all the other mail. Having payments and invoices go to a remittance address helps with the following:
Processing payments faster
Making payments faster when the company receives an invoice
Making sure that no payments or invoices get lost when being delivered between departments
I own a business, should I have a remittance address?
If you operate a business that receives a lot of invoices and payments, you may want to consider creating a separate remit address to keep everything organized. You can often add a remittance address to your business by using a PO Box through the USPS. Be aware that if you decide to receive payments and invoices through a remittance address, you’ll need to do the following:
Change existing billing forms, websites, business cards and the like to reflect this billing address change.
Maintain that receiving address and check it often.
Be patient with your customers while they make the transition from your old address to your new remittance address.
What’s an example?
Major corporations provide easy examples of remittance addresses in action.
Disney
Corporate address: 500 S. Buena Vista St. Burbank, CA 91521
Remittance address: Walt Disney World Travel Company P.O. Box 733115 Dallas, Texas 75373
Chevron
Corporate address: 6001 Bollinger Canyon Road San Ramon, CA 94583, USA
Remittance address: Synchrony Bank P.O. Box 960061 Orlando, FL, 32896
Home Depot
Corporate address: 2455 Paces Ferry Road Southeast Atlanta, GA 30339-4024
Remittance address: Home Depot Credit Services P.O. Box 9001010 Louisville, KY 40290
You may have noticed that all of the remittance addresses we listed are PO Boxes. This is a common theme for businesses. It’s often easier to set up a second address using a PO Box than it is to establish a second address at a physical building.
Other synonyms you might see
Remittance addresses often go by many names. Here are some of them and examples of when they are typically used:
Remit to: used on invoices to direct the customer to the appropriate address to send payments to.
Billing address: used on invoices, but is a more common synonym that is easier to understand.
Remit address: you’ll see this one used in emails or letters when a business is asking where they can send payment.
Remit payment: often used in phrases like “Please remit payment to”. This phrase is almost always used before giving an address.
What does “remit payment to” mean?
To remit payment is to settle an invoice by sending cash, a check or a different form of payment. This payment will need to be sent to a designated remittance address. If a company doesn’t have a remittance address, then contact its billing department to double-check where you should send payment to. Oftentimes, though, an address will be provided on the invoice, specifically under the Remit To section.
How can I verify that a remittance address is legit?
The easiest and most foolproof way to verify the legitimacy of a remittance address is to contact the company directly, specifically the billing department. If you can’t find information on the billing department for the company, contact the main number or email listed and ask to be forwarded to the billing department.
Bottom line
Although remittance addresses may seem intimidating, taking the short amount of time needed to make sure you have the correct address can save you a lot of stress. Remitting money, in general, can be stressful, which is why learning all about how to send money overseas can save you time and money in the future.
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Zak Killermann was a technical publisher at Finder who specialised in currencies and investing. Zak’s expertise was in breaking down technical finance concepts into approachable, digestible nuggets of information.
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