TPT can stand for Third-Party Transfer, a method for transferring funds.
Third-Party Transfer Explained
A Third-Party Transfer (TPT) is a way to move money from one bank account to another. It allows individuals to send funds to someone else, whether they bank at the same institution or a different one.
- TPTs are commonly used for:
- Paying bills.
- Sending money to family and friends.
- Making payments to businesses.
How Third-Party Transfers Work
TPTs involve initiating a transfer from your bank account to the recipient's bank account. According to the reference, this can occur within the same bank or across different banks.
