What is a telegraphic transfer?

The term ‘telegraphic transfer’ originates from when people used to move money using telex: sending printed messages by cable. But if you see the term ‘telegraphic transfers’ today, you should assume people are talking about any range of bank-to-bank money transfers, many of which use the SWIFT system. These days, the term ‘telegraphic transfer’ has different meanings at different banks and in different countries.