Telegraphic transfer qn

[Arsene_Wenger]

Does anyone still use Telegraphic transfer method when require funds transfering from the local to oversea bank??

Any benefit?

Thanks

 

[lcpteck]

Does anyone still use Telegraphic transfer method when require funds transfering from the local to oversea bank??

Any benefit?

Thanks

It's still the fastest way to transfer money from bank to bank. However, do take note of the charges for inbound and outbound. Different banks charge differently.

Unfortunately I have not used this service yet. ;P

 

[marclgw]

Does anyone still use Telegraphic transfer method when require funds transfering from the local to oversea bank??

Any benefit?

Thanks

Benefits: Fast?

But PayPal should be even faster.

Usually people wouldn't use T/T unless you are doing corporate purchase from overseas in bulk which I believe most Distro used to pay for their goods to their supplier in Taiwan etc.

Fee should be about SGD 30 to remit payment.

 

[Arsene_Wenger]

Ok cos i remb many manu many years back i used TT to transfer $ to my oversea account.

Mayb that was last time..I think now with internet banking + paypal etc it should incur lesser costs as compare to TT.

 

[TheV]

With the influx of foreigners in Singapore, there have been a growing number of money remittance company. i.e Chinatown, Little India or Joo Chiat

There are 2 type of charges that sender has to bear.
1. Flat transfer fee. i.e $30 for amount <$1000 or $50 for maximum transfer amount of $3000
2. Exchange rate. It is fully determined by them and no room for negotiation.