Date set: Limits for FAST transactions are increasing
The CBRT is increasing money transfer limits in the FAST system effective August 26. Accordingly, the upper limit for FAST transactions will be raised from 100,000 TL to 300,000 TL, and the limit for dynamic verification merchant payments will be increased from 250,000 TL to 300,000 TL.
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The Central Bank of the Republic of Turkey (CBRT) has announced that transaction amount limits in the Instant and Continuous Transfer of Funds (FAST) system will be increased. The new regulation will come into effect as of August 26, 2024.
With the regulation, the current upper limit of 100,000 TL for money transfers made via FAST will be raised to 300,000 TL. The same increase will also apply to payments made through the Request to Pay Layer Service.
According to the CBRT statement, the limit will also change for dynamic verification merchant payments made using FAST-TR QR codes. For these transactions, the upper limit, which is currently 250,000 TL, will be increased to 300,000 TL.
The FAST system, which was launched on January 8, 2021, allows for instant money transfers at any time of the day. The CBRT stated that the limit increase was decided by taking into account user interest and the changing needs of the payment ecosystem.