telegraphic transfer

Definition

T/T. A method of payment in which funds are transferred via telegraph or cable. Telegraphic transfers are most common in business conducted in developing countries, where other types of infrastructure, such as computerized payments, may not be available.

Use this term in a sentence

You may want to try and use a telegraphic transfer if you think that would be a better way to proceed.

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The telegraphic transfer was the only way to complete the important business deal in Eritrea, Africa, so we used it.

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The concierge at the Yemeni hotel gave helpful tips to foreign businessmen who stayed there, such as advising them to give extra time for bank transfers, as they are still performed by telegraphic transfer in that country.

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