Payment & Finance
What is Telegraphic Transfer (T/T)?
A bank-to-bank wire transfer — the most common cross-border payment method.
A telegraphic transfer (T/T) is an electronic bank-to-bank wire payment. In trade it is often split — for example 30% advance T/T and 70% on copy of the bill of lading. T/T is fast and simple but offers less documentary protection than a letter of credit, so it relies on trust between the parties.
Related terms
Trade tools
Trade with verified professionals
Paddock is the professional network for verified importers, exporters, freight forwarders and customs brokers.
Join Paddock →