Telegraphic Transfer (T/T)
Category: payment
A wire transfer method commonly used in international trade, often as 30% deposit + 70% before shipment.
T/T (Telegraphic Transfer or Wire Transfer) is the most common payment method in international trade, involving direct electronic bank-to-bank transfers. In cross-border e-commerce, T/T is widely used for paying suppliers, with common terms being 30% deposit before production and 70% balance before shipment or against copy of B/L. T/T payments are fast (1-3 business days) but offer less buyer protection than LCs.
Examples
- • A typical payment term for sourcing from Chinese manufacturers is 30% T/T deposit with order, 70% T/T balance before shipment.
- • T/T fees range from $15-50 per transaction depending on the bank, with currency conversion fees adding 1-3% on top.
- • Some suppliers accept 100% T/T against copy of bill of lading, providing some buyer protection while simplifying payment.