Telegraphic transfer

Telegraphic transfer

The term Telegraphic Transfer or Telex Transfer , often abbreviated to 'TT', is a electronic means of transferring funds overseas. A transfer charge is collected while sending money.

A banking term commonly call "T/T," meaning a cable message from one bank to another in order to effect the transfer of money. [ [http://www.firsttradenet.com/its/glossary/index.jsp?area2=gloss&letter=T Glossary, International Trade Services, First National Bank ] ]

It is most often used in UK Banking to refer to a CHAPS transfer; that is a payment made via the Clearing House Automated Payments System.

The term is also used to describe other electronic funds transfer methods and, incorrectly, BACS (Bankers Automated Clearing Services) and AFTS (Automated Funds Transfer System) payments.

ee also

* Wire transfer

References


Wikimedia Foundation. 2010.

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

  • telegraphic transfer — ➔ transfer2 * * * telegraphic transfer UK US noun [C or U] ► BANKING, E COMMERCE a method of sending money quickly from one bank account to another, by phone or computer: »Payment will be by telegraphic transfer …   Financial and business terms

  • telegraphic transfer — transfer of money after giving an instruction over a communications system …   English contemporary dictionary

  • Telegraphic Transfer - TT — An electronic method of transferring funds. Telegraphic Transfers are used primarily for overseas wire transactions. These transfers are used most commonly in reference to CHAPS, Clearing House Automated Payment System, transfers in the U.K.… …   Investment dictionary

  • telegraphic transfer — TT A method of transmitting money overseas by means of a cabled transfer between banks. The transfer is usually made in the currency of the payee and may be credited to his account at a specified bank or paid in cash to the payee on application… …   Big dictionary of business and management

  • telegraphic transfer — /ˌtɛləgræfɪk ˈtrænsfɜ/ (say .teluhgrafik transfer) noun the transfer, by telegraph, radio, or telephone, of credit from one person or firm to another …  

  • telegraphic transfer — An alternative term for *wire transfer …   Auditor's dictionary

  • telegraphic transfer — /ˌtelɪgræfɪk trɑ:nsfə/ noun a transfer of money from one account to another by telegraph …   Dictionary of banking and finance

  • telegraphic transfer — noun chiefly Britain : cable transfer …   Useful english dictionary

  • Telegraphic Transfer — Unter einer Telegrafischen Überweisung versteht man die grenzüberschreitende elektronische Überweisung von Geldbeträgen. Als Kommunikationsgrundlage dafür nutzen die meisten Banken derzeit das weltweite System der SWIFT. In der Regel sollten… …   Deutsch Wikipedia

  • telegraphic transfer — TT A same day method of transferring funds from one party to another. In the UK, instructions are given to the bank by telephone or by smart card …   Accounting dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”