Telegraphic Transfer (TT) – Meaning, Charges, Process & Uses (2026)

A Telegraphic Transfer (TT) is a fast and secure way to send money electronically from one bank to another, especially for international payments. In Indian banking, TT is commonly used for foreign remittances, overseas education fees, import payments, and sending money abroad.

This guide explains TT in simple Indian English, step by step.

Quick Summary: Telegraphic Transfer

• Full form: Telegraphic Transfer (TT)
• Used for: International money transfer
• Speed: Same day to 2 working days (typically)
• Mode: Electronic bank-to-bank transfer
• Currency: Foreign currency or INR (as applicable)
• Common users: Students, businesses, importers, individuals sending money abroad

What Is a Telegraphic Transfer?

A Telegraphic Transfer is an electronic method of transferring funds from one bank account to another, usually across countries. Despite the name, it does not use telegrams today. Modern TT transfers are done through secure banking networks like SWIFT.

In India, banks process TT requests through:

• Branch submission
• Net banking (for eligible users)
• Corporate banking channels

When Is Telegraphic Transfer Used?

TT is commonly used for:

• International remittance
• Paying foreign university fees
• Import/export business payments
• Overseas property-related payments
• Sending money to family members abroad

How Telegraphic Transfer Works (Step-by-Step)

Step 1: Visit Bank or Log In

• Visit your bank branch or
• Use net banking (if TT option is enabled)

Step 2: Fill TT Application Form

You’ll need:

• Beneficiary name
• Beneficiary bank name
• Account number / IBAN
• SWIFT/BIC code
• Beneficiary bank address
• Amount and currency

Step 3: Submit Documents

Typically required:

• PAN card
• Purpose of remittance
• FEMA declaration (Form A2 or equivalent)

Step 4: Pay Amount + Charges

• Transfer amount
• TT charges + GST (as applicable)

Step 5: Processing & Confirmation

• Bank processes the TT
• Funds credited to beneficiary account

Telegraphic Transfer Charges (Indicative)

TT charges vary by bank and amount. Typically, they include:

• TT processing fee
• SWIFT charges
• Correspondent bank charges
• GST

Charges may vary by bank, branch, country, and currency. Always check with your bank before initiating a TT.

Telegraphic Transfer Time

• Same country (rare): Same day
• International TT:
  • Typically 1–2 working days
  • May take longer due to time zones, holidays, or intermediary banks

TT vs Other Money Transfer Methods

Feature	Telegraphic Transfer	NEFT / RTGS	IMPS
Used for	International	Domestic	Domestic
Currency	Foreign / INR	INR	INR
Speed	1–2 days	Same day	Instant
Availability	Bank hours (mostly)	Bank hours / 24×7	24×7
Cost	Higher	Low	Low

Telegraphic Transfer vs Wire Transfer

In practice:

• Telegraphic Transfer = Wire Transfer
• Both use electronic bank networks
• TT is the term commonly used in India and Asia

Advantages of Telegraphic Transfer

• Fast international transfer
• Secure and bank-backed
• Accepted worldwide
• Suitable for large amounts

Disadvantages of Telegraphic Transfer

• Higher charges compared to other methods
• Not instant
• Requires accurate beneficiary details
• Limited availability on holidays

Common Problems & Troubleshooting

Money not credited?

• Check SWIFT details
• Ask for TT reference number
• Contact remitting bank

Wrong beneficiary details?

• Inform bank immediately
• Recovery may not be guaranteed

Transfer delayed?

• International holidays
• Intermediary bank processing
• Compliance checks

Security Tips for TT Transfers

• Double-check SWIFT code and account number
• Transfer only to trusted beneficiaries
• Keep TT receipt and reference number
• Avoid sharing documents on unsecured channels

FAQs: Telegraphic Transfer

A Telegraphic Transfer (TT) is a trusted and widely used method for sending money internationally from India. While it may cost more than domestic transfers, it offers speed, security, and global acceptance, making it ideal for education fees, business payments, and overseas remittances.

Before initiating a TT, always confirm charges, exchange rates, and required documents with your bank to avoid delays.