Yes.

The advantages are fast arrival, convenient cash withdrawal, relatively safe, and suitable for large-amount collections. Of course, there are also disadvantages. The buyer needs to pay first and has strict requirements on credit issues.

TT is also what we often call wire transfer. The remitter pays a fixed amount of domestic currency to the domestic foreign exchange bank in exchange for a fixed amount of foreign exchange, and states the name and address of the payee, and then the undertaking bank (remitting bank) ) A method of remittance in which a deposited telegram is sent to a branch or agent bank (remitting bank) in another country with instructions for payment to the payee.