Central Bank raises FAST limit

The Central Bank of the Republic of Türkiye (TCMB) has decided to increase the limit for the FAST (Instant and Continuous Transfer of Funds) System, which allows for instant money transfers at any time of day.

INCREASED TO 50,000 TL

As of today, the upper limit for payments per transaction has been raised to 50,000 TL. Consequently, balances of up to 50,000 Turkish Lira can be transferred via EFT to any person or institution at any time, 24 hours a day, 7 days a week.

For merchant payments with dynamic verification performed using FAST-TR QR codes, transactions of up to 100,000 TL can be made in a single instance.

STATEMENT FROM THE CENTRAL BANK'S WEBSITE

The following statement was included in the information provided on the Central Bank of the Republic of Türkiye's website:

"There is an upper limit applied per transaction in the FAST System. The system was launched on January 8, 2021, with an upper payment limit of 50 TL, and has been increased gradually, with the upper limit for payments per transaction raised to 50,000 TL as of December 21, 2023. For merchant payments with dynamic verification performed using FAST-TR QR codes, transactions of up to 100,000 TL can be made in a single instance."

IT WAS LAST CHANGED IN FEBRUARY

The FAST limit was last changed on February 14, 2023.