Telegraphic Transfer or Telex Transfer , often abbreviated to TT, is an electronic means of transferring funds overseas. A transfer charge is collected while sending money. .

A banking term commonly called "T/T," meaning a cable message from one bank to another in order to effect the transfer of money.

It is most often used in UK

United Kingdom

The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...

 Banking to refer to a CHAPS

CHAPS

The Clearing House Automated Payment System or CHAPS is a British company established in London in 1984, which offers same-day sterling fund transfers...

 transfer; that is a payment made via the Clearing House Automated Payments System

Clearing house (finance)

A clearing house is a financial institution that provides clearing and settlement services for financial and commodities derivatives and securities transactions...

.

The term is also used to describe other electronic funds transfer methods and, incorrectly, BACS

BACS

Bacs Payment Schemes Limited is a United Kingdom scheme for the electronic processing of financial transactions. BACS direct debits and BACS direct credits are made using the BACS system...

 (Bankers Automated Clearing Services) and AFTS (Automated Funds Transfer System) payments.