I looked in google but couldn't find a good result for what i want to understand. What are they? Do i send card details over the net? Can someone just explain please.. do you have to be over 18 to send a T/T payment? Thanks very much, Jamie.
Telegraphic Transfer (TT) or Wire Transfer are done at the bank. Basically, it allows you to pay someone who may be overseas or local using funds in your bank account or cash. The money which you pay will reach your payee's account in a matter of hours or not more than 48 hours. This used to be the fastest means of sending money to someone else before the availability of the internet. It is still used today for sending money safely since the bank does the transfer. No, banks usually do not allow you to pay for a telegraphic transfer using a credit card. What you typically need to do is to go to your bank and tell them you want to do a telegraphic transfer. They will give you a form where you will fill in details such as your name, address, bank account details and the payee's bank account details and the amount. You may need the SWIFT number, bank number and all the other details which you can obtain from the payee. You may not need to be over 18 to do a TT but it all depends on the laws in your country. Most of the time, you just need a bank account with that bank to do it and if you are underage, you get the consent from your parents.
Hello,i am doing export business,and here we using T/T a lot,T/T is Telegraphic Transfer (TT) or Wire Transfer,mostly we send our goods after received all the money,that is used in international business a lot,are you going to do international business?