What does T/T mean in International Business?

This page is about the meanings of the acronym/abbreviation/shorthand T/T in the Business field in general and in the International Business terminology in particular.

Telegraphic Transfer

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What does T/T mean?

Telegraphic transfer
Telegraphic Transfer or Telex Transfer, often abbreviated to TT, is a historic term used to refer to an electronic means of transferring funds overseas. A transfer charge is collected while sending money. Historically "T/T," meant a cable message from one bank to another in order to effect the transfer of money. Prior to the existence of electronic payment networks this was often directly between banks via a Telex message.

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"T/T." Abbreviations.com. STANDS4 LLC, 2016. Web. 24 May 2016. <http://www.abbreviations.com/term/117985>.