TT – Telegraphic Transfer
Telegraphic Transfer is one of the oldest technique of transferring money from one city to another. In the earlier times when there were no internet and fax, the postal & telephone department of India started a service of transferring money from a person in one city to a person in another city.
TT was the fastest means of transferring money between persons located in different cities. This method of transferring money to a distant location is named as Telegraphic Transfer.
Today, TT has taken over by electronic transfer of fund (ETF) which is more easier, convenient & secure way to transfer money.