KTT – NETSWIFT
This procedure is in the form of “Cash and Credit” server in which a manual download method is used, and the bank must be able to execute its instructions.
Moreover, the bank must be equipped with one of the following two systems.
In Key Tested Telex (KTT), the work starts when the sending Bank and the receiving Bank send a Telex message, and the receiving Bank must turn on its telex. When they are communicating via telex,
a secret telex code is created for making a secure domain between two officers, and the action of transferring currency between two banks is done with it. Unfortunately, very few banks have the ability
to receive KTT which is normally in countries like Russia (Zaman Bank of Azerbaijan) Litovany’s Barclays, Turkey’s Bank of agriculture, Australia, etc.