{"id":61826,"date":"2021-10-28T10:56:48","date_gmt":"2021-10-28T02:56:48","guid":{"rendered":"https:\/\/jingsourcing.com\/?p=61826"},"modified":"2023-05-04T17:21:39","modified_gmt":"2023-05-04T09:21:39","slug":"b-what-is-telegraphic-transfer","status":"publish","type":"post","link":"https:\/\/jingsourcing.com\/b-what-is-telegraphic-transfer\/","title":{"rendered":"What is Telegraphic Transfer? | Fees, Pros and Cons about TT Payment"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

When you consider payment methods in cross-border business<\/a>, the telegraphic transfer may be a choice for you. Some people doing international business don\u2019t know what telegraphic transfer is when they first meet this payment method.<\/p>

This article will tell you detailed information about it, including basic conceptions, features and so on. We hope it will help you make international transactions better.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t
<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t
  1. What is the telegraphic transfer?<\/a><\/li>
  2. What\u2019re the functions and features of telegraphic transfer?<\/a><\/li>
  3. Is it safe to use telegraphic transfer?<\/a><\/li>
  4. How does the telegraphic transfer work?<\/a><\/li>
  5. How to make a telegraphic transfer payment?<\/a><\/li>
  6. What\u2019re the fees for telegraphic transfer payment?<\/a><\/li>
  7. What\u2019re the advantages and disadvantages of telegraphic transfer?<\/a><\/li>
  8. FAQs about Telegraphic Transfer<\/a><\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
    \n\t\t\t\t
    \n\t\t\t\t\t\t\t
    \n\t\t\t
    <\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
    \n\t\t\t\t\t\t
    \n\t\t\t\t\t
    \n\t\t\t
    \n\t\t\t\t\t\t
    \n\t\t\t\t
    \n\t\t\t\t\t

    What is the telegraphic transfer?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
    \n\t\t\t\t
    \n\t\t\t\t\t\t\t\t\t

    Generally, telegraphic transfer meaning refers to an electronic payment method to send money or funds transactions, TT payment in short. It is also called \u201ctelex transfer\u201d, \u201celectronic funds transfer\u201d or \u201cwire transfer\u201d.<\/p>

    Originally, telegraphic transfer was used by banks to send and receive money internationally in the way of cable messages or telexes, which was a traditional method. But later, telegraphic transfer meaning has been more likely to regard as \u201celectronic funds transfer\u201d, short in \u201cEFT\u201d.<\/p>

    It usually takes two to four days to complete a money transfer, which depends on the source and destination of the money. According to the real demands, banks will charge certain fees.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

    \n\t\t\t\t
    \n\t\t\t\t\t\t\t
    \n\t\t\t
    <\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
    \n\t\t\t\t\t\t
    \n\t\t\t\t\t
    \n\t\t\t
    \n\t\t\t\t\t\t
    \n\t\t\t\t
    \n\t\t\t\t\t

    What\u2019re the functions and features of telegraphic transfer?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
    \n\t\t\t\t
    \n\t\t\t\t\t\t\t\t\t

    From the literal meaning of telegraphic transfer, it can be easily understood that it is used to transfer money by the telex way.<\/p>

    In other words, TT payment uses the settlement of cash in foreign exchange, sending a tested cable or telex, or using SWIFT<\/a> to the paying bank, which means customers send money to the designated account of foreign exchange bank and ask for payment in a certain period after delivery.<\/p>

    The payment period of telegraphic transfer is divided into three types, including payment in advance, payment at sight and payment after sight. In most cases, 30 percent of payment in advance and 70 percent of payment at sight are used.<\/p>

    Generally speaking, it is safe and fast but also requires certain costs.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

    \n\t\t\t\t
    \n\t\t\t\t\t\t\t
    \n\t\t\t
    <\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
    \n\t\t\t\t\t\t
    \n\t\t\t\t\t
    \n\t\t\t
    \n\t\t\t\t\t\t
    \n\t\t\t\t
    \n\t\t\t\t\t

    Is it safe to use telegraphic transfer?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
    \n\t\t\t\t
    \n\t\t\t\t\t\t\t\t\t

    Telegraphic transfer can be divided into 2 terms of payment according to its character: \u201cpayment in advance\u201d and \u201cpayment on delivery\u201d. Each has different benefits and potentials for exporters and importers.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

    \n\t\t\t\t
    \n\t\t\t\t\t

    Payment in Advance (Advance T\/T)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
    \n\t\t\t\t
    \n\t\t\t\t\t\t\t\t\t

    Payment in advance means that the exporter has received the payment before delivering goods, and ships goods to the importer within the time agreed in the contract. Practically speaking, this kind of payment is beneficial to exporters and bad for importers. The reasons are as follows.<\/p>