Wire Transfer (T/T)

Wire transfer (commonly called T/T for Telegraphic Transfer in international trade) is the standard payment method for overseas manufacturing orders. It is a direct electronic transfer of funds from your bank account to the supplier's bank account, typically via the SWIFT network for international transfers. Wire transfers are fast (1-5 business days depending on banks and countries), relatively inexpensive ($15-$50 per transfer for most banks), and universally accepted by overseas suppliers.

The standard payment structure for manufacturing orders is a 30/70 split: 30% deposit via wire transfer to initiate production, and the remaining 70% balance paid after production is complete and (ideally) after a successful pre-shipment inspection. Some suppliers request a 50/50 split for first orders, while repeat customers may negotiate more favorable terms like 20/80 or even payment after shipment. The deposit funds the factory's raw material purchases and initiates production.

Risks of wire transfer include: deposits are non-refundable if the factory fails to deliver (mitigate with due diligence and trade assurance), fraudulent bank account changes via email compromise (always verify bank details by phone or video call before the first transfer), and exchange rate fluctuations between the time of quote and payment (consider forward contracts for very large orders). Always ensure you are transferring to the company's verified account, not a personal account or an account in a different name.