What does the peyment term TT mean?

Question

i need to use TT payment term, what does it mean and how do i go about using it?

Answer 1

TT means Telegraphic Transfer

You ask your bank to do a TT to  pay for goods or services which you had ordered. TT is one of the ways to finance the payments of international trade.

Answer 2

TT stands for telegraphic transfer

it enables the receiptent to receive funds same day. If you TT funds to someone at your bank in the morning they will receive funds that afternoon. normally cost about $30

Answer 3

TT means "Telegraphic Transfer".

From your bank, request for the Money Transfer form or  Wire Transfer form or Telegraphic Transfer form (whatever they call it).

Fill up the details like your Beneficiary's Account Number, Designated Bank, Location, Address and other important bank information (i.e  Swift Code, Bank Code or IBAN if applicable)

put in the amount and ask for the foreign exchange rate (if international transfer) then endorse it to the bank teller.