TT (Telegraphic Transfer), * bill etc. vs. LC (Letter of Credit)
Posted 04 Mar 2008 18:06
Replying to [rajaram]:
Depending on the volume of your overall transactions, and the value of your custom, the frequency of the remittances, you may still be in a position to negotiate with your bank to reduce the fees.
Everything in life (and finance) is negotiable.
I am unable to respond to your latest question, since the "reply" button is not visible. Just for info: the bank-to-bank transfer takes place the same day. Now it is for the remiiter's bank to send the TT, and the efficiency of the receiving bank - how fast it can respond to the credit in its Nostro account. (In one of my branches in India I used to pay within 2 hours of the credit being received in the US a/c). Shouldn't take more than 48 hours max. for others.