What is long form of TT payment?

Question

What is long form of TT payment?

Answer 1

In earlier years when there was neither computer nor internet nor fax and and landline telephone was rare item. However, the P & T (Postal and Telephone Deptt.) were having some structure to fecilitate some urgent transfer of funds from one city to another city. And Post Offices were equipped to send any messages fast i e same day. A person who wishes to send money to the person stationed in another city would reach the post office to do so. And the procedure was named as TELEGRAPH hence the word TELEGRAPHICALLY TRANSFER i.e. TT.  As it was the fastest mode during that period so a newspaper was named as TELEGRAPH.  

Now a days TT has taken over by Electronic Transfer i e online and the individual can transfer at its own.

So TT as of now is no where.

Answer 2

T/T means telegraphic transfer, or simply wire transfer. It's the simplest and easiest payment method to use.

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Answer 3

T/T mean telegraphic transfer

However, I think buyer will have problem to trust seller by using T/T. The best procedure is using either L/C or escrow.

L/C = Letter of Credit. Work same as escrow, but may be more secure. Ask your local bank, they will provide the service.

Answer 4

Telegraphic Transfer. easiest, convenient & secure way to pay