Telegraphic TransferTT

The name comes from the era when transfers were instructed by telegraph or telex; today TTs are sent as SWIFT messages, usually MT103 for a customer transfer.

The remitter gives the bank the beneficiary's name, account number, bank name and SWIFT code, the amount, currency and purpose. The remitting bank debits the remitter, sends the payment instruction, and funds move through nostro and vostro accounts of correspondent banks until the beneficiary's bank credits the account.

Charges can be borne in three ways: OUR (remitter pays all charges), BEN (beneficiary pays all charges) and SHA (charges shared).

In trade, an advance TT means the importer pays before shipment, which is risky for the importer, while TT after receiving goods (open account) is risky for the exporter. TT is faster and cheaper than an LC but offers no bank undertaking.

In Nepal, outward TTs require compliance with NRB's foreign exchange rules, including documentation for imports and limits for other purposes, and are made only by licensed banks. Inward TTs bring remittances, export proceeds and other receipts.

पहिले टेलिग्राफ वा टेलेक्सबाट निर्देशन पठाइने भएकाले यो नाम रहेको हो; अहिले SWIFT सन्देश (प्रायः MT103) बाट पठाइन्छ।

पठाउनेले लाभग्राहीको नाम, खाता नम्बर, बैंक र SWIFT कोड, रकम, मुद्रा र प्रयोजन दिन्छन्। पठाउने बैंकले खाता डेबिट गरी निर्देशन पठाउँछ र रकम संवाददाता बैंकका नस्ट्रो/भस्ट्रो खातामार्फत लाभग्राहीको बैंकसम्म पुग्छ।

शुल्क: OUR (पठाउनेले सबै), BEN (लाभग्राहीले सबै), SHA (बाँडेर)।

व्यापारमा अग्रिम TT आयातकर्ताका लागि र ढुवानीपछिको TT निर्यातकर्ताका लागि जोखिमपूर्ण हुन्छ। TT प्रतीतपत्रभन्दा छिटो र सस्तो तर बैंकको प्रतिबद्धताबिना हुन्छ। नेपालमा बाहिर पठाउने TT नेपाल राष्ट्र बैंकको विदेशी विनिमय नियमअनुसार इजाजतप्राप्त बैंकले मात्र गर्छन्।