Is a telegraphic transfer, a wire and a TT the same thing?
Yes, they are one and the same. Basically this is a means of electronically making payments between banks and is more efficient than ‘drafts’, which is a paper based system. The International Money Transfers service does not support drafts. If you are sending a telegraphic transfer it is important that you provide accurate details of the recipient’s banking details. The account name and account number must be correct and you must also provide us with either the recipient’s bank address and/or the beneficiary’s bank Swift/ABA/Sort Code.
