Telegraphic transfer

From Wikipedia, the free encyclopedia

The term Telegraphic transfer, often abbreviated to 'TT', is most often used in UK Banking to refer to a CHAPS transfer; that is a payment made via the Clearing House Automated Payments System.

The term is also used to describe other electronic funds transfer methods and, incorrectly, BACS (Bankers Automated Clearing Services) and AFTS (Automated Funds Transfer System) payments.

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