Meaning of Leased KTT – TELEX

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Required Information for Leased KTT TELEX
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• Leased KTT TELEX, often abbreviated to TT, is a
  term used to refer to an electronic means of
  transferring funds.
• A transfer charge is often charged by the sending
  bank and in some cases by the receiving bank.
• Leased Telegraphic Key Note wire Transfer MT103
  One-way are issued by New York Securities Bank,
  Union of Comoros, we use the Bank Telex Network
  to have clients Leased Telegraphic Key Note Wire
  Transfer (KTT) MT103 One-Way delivered Bank to
  Bank using Telex Network.

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• Leased KTT TELEX are usually fairly expensive
  due to the fast nature of the transaction.
• Generally, the telegraphic transfer is complete
  within two to four business days depending on the
  origin and destination of the transfer, as well
  as any currency exchange requirements.
• The cost associated with a telegraphic transfer
  can also be affected by these variables.

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• Additional factors affecting the cost can
  include, but are not limited to, the amount being
  transferred and the institution chosen to
  complete the transaction.
• Associated fees to complete the transfer are not
  standardized across all institutions and
  therefore can vary dramatically from one
  institution to the next.
• Certain information regarding the sender and
  destination are required to complete the
  transfer.

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• Whether a person transfers funds between two
  accounts that are both held in his name, or
  between two accounts held by two different
  individuals, the most pertinent information
  required for the transfer are the account numbers
  and information regarding the corresponding
  financial institutions.
• Personally identifiable information is also
  required for security purposes and to confirm the
  identity of the sender.
• Similar requirements are required between
  business entities, but the identifiable
  information relates to the business instead of
  the individual.

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A bank wire transfer follows

• 1. The entity wishing to do a transfer approaches
  a bank and gives the bank the order to transfer a
  certain amount of money.
• 2. The sending bank transmits a message, via a
  secure system, to the receiving bank, requesting
  that it effect payment according to the
  instructions given.

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• 3. The message also includes instructions. The
  actual transfer is not instantaneous funds may
  take several hours or even days to move from the
  senders account to the receivers account.
• 4. Either the banks involved must hold a
  reciprocal account with each other, or the
  payment must be sent to a bank with such an
  account, for further benefit to the ultimate
  recipient.

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• Banks collect payment for the service from the
  sender as well as from the recipient.
• The sending bank typically collects a fee
  separate from the funds being transferred, while
  the receiving bank and intermediary banks through
  which the transfer travels deduct fees from the
  money being transferred so that the recipient
  receives less than what the sender sent.

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