Telegraphic Transfer TT, is it safe?

[Red Flare]

I have a potential customer from outside the US that wants to pay via Telegraphic Transfer (TT).

Is this a safe method of receiving payment?

[CybrHost]

Re: Telegraphic Transfer TT, is it safe?

I found this with a little googling:

It depends in which way you are using it. Straight T/T is not safe. However T/T w/Cash Against Doucments is safe provided that the documents are verified. As an added surety you can include the inspection and verification of products to the list of documents before payment is made.


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[Jeff - Wolfpaw Hosting]

Re: Telegraphic Transfer TT, is it safe?

Maybe he means something Western Union. We've received national and international payments via Western Union and don't see any problems with that. You go to the nearest WU affiliate (like a supermarket) present your ID and the reference number and get the cash.

[kayakbabe]

Re: Telegraphic Transfer TT, is it safe?

We do direct wire transfers. they are very safe. once the wire transfer is sent, it can not be recalled by the sending bank. ask your banker.

we do this for 'iffy' countries that buy wholesale from us... anywhere in the dissolved russian union.. indonesia, certain countries on the continent of Africa, etc.

[Red Flare]

Re: Telegraphic Transfer TT, is it safe?

Thanks to all.

I don't want to send, only receive.
So it looks like Telegraphic transfer cannot be recalled?

[kayakbabe]

Re: Telegraphic Transfer TT, is it safe?

wire transfers can be used both ways, there has to be a sender and a receiver.

I do not know if wire transfer and telegraphic transfer are the same thing. In fact, I'm pretty sure they are not.

Check with your banker. he can best answer your questions, not us. we're not your bank, so we can not know their policies.