{"id":1751,"date":"2023-09-20T09:00:50","date_gmt":"2023-09-20T02:00:50","guid":{"rendered":"https:\/\/easylink.id\/?p=1751"},"modified":"2024-04-22T15:06:09","modified_gmt":"2024-04-22T08:06:09","slug":"telegraphic-transfer","status":"publish","type":"post","link":"https:\/\/easylink.id\/en\/telegraphic-transfer\/","title":{"rendered":"Telegraphic Transfer: Definition, Benefits and Costs"},"content":{"rendered":"

Telegraphic Transfer (TT) is a method of sending money that has been in existence since ancient times. This method helps in sending money between countries using specific codes.<\/p>\n

This method utilizes communication technology used in telegrams or telegrams. Telegram is a message sent from one party to another using a combination of codes, which is then transmitted using telegraphs.<\/p>\n

A telegraph is a device for sending messages using electrical wires that connect one place to another, either within the same country or internationally. This technology was popular from the 18th century until the late 20th century.<\/p>\n

The first financial institution to use Telegraphic Transfer (TT) technology was Western Union in the United States in 1851.<\/p>\n

At that time, sending money using Telegraphic Transfer (TT) was faster than using manual methods such as horses or ships.<\/p>\n

Benefits of Telegraphic Transfer (TT)
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Basically, the benefit of Telegraphic Transfer (TT) at that time was to simplify the process of sending money between countries.<\/p>\n

At that time, if you needed to send money to a different continent, you simply went to the bank where you kept your money, provided the required data such as the sender's name, recipient's name, and the amount of money to be sent.<\/p>\n

Afterward, the bank operator would send Morse code to the receiving bank. The recipient would then go to the receiving bank to collect the remitted money.<\/p>\n

In addition to telegraphic transfer, there is another method transfer money abroad<\/a> In addition to telegraphic transfer, there is another method of transferring money abroad called Wire Transfer. Interested in learning more? You can click on the Wire Transfer article.<\/a> berikut.<\/p>\n

Cost of Telegraphic Transfer (TT)<\/strong><\/h2>\n

In essence, the Telegraphic Transfer (TT) process involves three banks: the sender's bank, an intermediary bank, and the recipient's bank. Each of these banks will charge a commission fee to process the money transfer.
\nThere are two cost components in the Telegraphic Transfer (TT) method:<\/p>\n