TT refers to wire transfer in international trade, and its English name is: telegraphic transfer. In international trade, EX refers to telex, and its full English name is telex.

T/T means that the remitter deposits a certain amount of money into the remitting bank, which sends it to the destination branch or correspondent bank (remitting bank) by telegram, telex or SWIFT, instructing the remitting bank to pay a certain amount of money to the payee.