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What is a Telegraphic Transfer?
Telegraphic Transfer (TT) is foreign currency remittance made via electronic means.
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How long does it take for the beneficiary to receive my TT?
Within 3 working days.
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How much is the charge to send a TT?
A. First - Cable Charges
- If the TT is conducted over a Baiduri Bank Counter:
- BND20.00 (for Banks in Brunei and other ASEAN countries, including Hong Kong)
- Other countries – BND30.00
- If the TT is conducted through b.Digital Personal or b.Digital Business:
- To ASEAN Countries and Hong Kong – BND10.00
- Other countries – BND15.00
B. Second - Commission in-lieu of exchange (Foreign Currency remittance sent in same currency, inclusive of SGD)- Up to BND100,000 in eqv. 1/10%, min. BND10 in eqv.
- Above BND100,000 in eqv. 1/32%, min. BND100 in eqv.
C. Third - Stamp Duty- Flat rate of BND0.10
From 01 May 2021, please take note of our revised Overseas Telegraphic Transfer Correspondent Charges.
For all charges to be paid by the sender, the charges in the table below will apply. These new fixed charges apply to ‘OUR’ tariffs only.Currency
Amount
USD
BND45
JPY
0.05% of the remitted amount or minimum BND35
Other Currencies
BND35
- If the TT is conducted over a Baiduri Bank Counter:
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Why did the beneficiary not receive the full amount I sent?
This is due to charges levied by the corresponding bank i.e. beneficiary’s bank. In order for the beneficiary to receive the full payment, the overseas charges will need to be borne by sender.
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What can I do if the beneficiary claims he/she has not received the funds?
You can enquire on the status of your Telegraphic Transfers through b.Digital Personal (“Email to Bank”), our Customer Helpline 244 9666 or at your nearest Baiduri Bank branch.
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What currency will the beneficiary receive the TT in?
The beneficiary will receive payment in currency specified by the sender. In some cases, the beneficiary’s bank will convert to beneficiary’s account currency if it does not match. It is advisable to check the beneficiary's account currency before sending TT to avoid TT being returned.
