What are TT and OD?
Making payments easier for you
Overview
Telegraphic Transfer (TT) and Overdrafts (OD) are forms of remittance that RHB Bank provides in order to conveniently aid your personal and business payments.
Telegraphic Transfer (TT)
Be it paying for an overseas purchase or sending money to a studying child, Telegraphic Transfer is the perfect tool to send foreign currency overseas in a timely and secure manner. The benefits of TT are:
- Fast and safe way, as it goes from one bank to another and directly into an account
- Easily traced if it gets lost
Overdraft (OD)
An Overdraft is an advance of credit given to you from an amount up to an agreed limit. Which means you can withdraw funds from your account in excess of the credit balance. The benefits of Overdrafts are:
- Provides additional flexibility and access to emergency funds
- Interest is only charged on the amount of credit used
- A cost-effective option of avoiding fees associated with overdrawing accounts
