What Is Telegraphic Transfer ?

Telegraphic Transfer

TT is the short form of Telegraphic Transfer or Telex Transfer.  Telegraphic Transfer is one of oldest format of sending money electronically.  Today also, it is one of the most used format of online money transfer preferred by the world.  This is used more when the transfer is having an international nature.  Unlike cheque, the Telegraphic Transfer has a Charge to send and some cases there is a charge to receive the fund also.  This is one of the safe modes of fund transferring as this happen between two banks through its network only.

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