Telegraphic Transfer (TT)

A telegraphic transfer (TT) is an electronic means of transferring funds. Your solicitor will request a telegraphic transfer when they need funds to reach an account that day. For example, if you are purchasing a home, your funds will be transferred by telegraphic transfer to the seller's solicitor, or if you are selling, a telegraphic transfer will be used to transfer funds to clear your mortgage.

A telegraphic transfer may also be known as a CHAPS (Clearing House Automated Payments System) transfer.

In-Deed charges includes a small fee (or disbursement) for one TT, which covers the cost that is charged by the bank to your lawyer for sending funds and the associated administrative expenses.

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