Telegraphic Transfer (TT) in China Trade: A Practical Guide for Importers

In my two decades of sourcing from China, T/T payment has been the go‑to method for nearly every supplier I’ve worked with. It’s fast, affordable, and preferred by Chinese factories—but it also carries risks if you don’t follow a few hard‑learned rules. Here’s what you need to know to protect your cash and keep shipments moving smoothly.

TT payment in China

According to the survey by GlobalSourcing, T/T (TT) transfer is the most popular way of sending money to China. In an open question, 99% of suppliers answered that T/T is their first method of choice. There are some bank charges related to the T/T, but it is still way cheaper than its alternatives, such as L/C (letter of credit). International transfer requires a bank account number and SWIFT code. It takes 2-5 days for the transfer to reach the destination. Telegraphic transfers can be made in your currency or Chinese yuan. If you transfer in CNY, you will probably pay lower fees, and your supplier will be more satisfied.

How to do a Telegraphic Transfer?

Usually, the bank requires you to provide the following:

• Sender’s full name and address
• Beneficiary Bank’s name (not abbreviated)
• Beneficiary Bank’s full address (including country name)
• account number
• Beneficiary’s full name and address
• the purpose of payment.

The usual form employed in purchasing goods from China is a 30% down payment, 70% paid after the goods are on board and ready to be delivered. Chinese SMEs often rely on a steady inflow of funds, so they use your down payment to purchase materials and start production.

You should remember, though, that the final payment should not be made before delivery. Otherwise, the buyer is at the mercy of the seller, who can withhold delivery and claim all of the money.

Chinese bank account number seems suspicious

Always wire T/T payments only to the company’s official business account—never to a personal account, no matter how convincing the story. Before you send a single yuan, run a thorough supplier verification and credit check through China‑Check to confirm the company is legitimate and financially sound. That small upfront step could save you from losing your entire deposit.