Suunto HR belts will not transmit to a t-Series watch while underwater. In fact, I'm not sure I know of any wireless HR transmitters that DO transmit underwater.
That said, if your primary activity is swimming, you might consider the
Suunto Smart Belt - or better yet, the forthcoming Memory Belt (coming in November) - which will record your workout data right in the belt. You can then later dowload to a PC to monitor your results. The Memory Belt also feeds to your
t3,
t4 or
t6, so you can have real-time monitoring while engaged in out-of-the-water activities.