What are TT and OD?
Making payments easier for you
Overview
Telegraphic Transfer (TT) and On Demand (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
On Demand (OD)
On Demand rate are applied when purchasing or selling of demand draft, foreign cheque and etc. It is a cheaper method for payments made overseas and funds are cleared through our correspondents in major cities around the world.
