New regulation for EFT/FAST transactions
The Central Bank has removed the application that allowed banks to charge a maximum fee 50 percent higher for EFT/FAST transactions made after 16:00 on weekdays and on weekends.
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The Central Bank of the Republic of Turkey's (TCMB) Communiqué on Amending the Communiqué on Procedures and Principles Regarding Fees to be Charged to Financial Consumers and the Communiqué on Amending the Communiqué on Procedures and Principles Regarding Fees to be Charged by Banks to Commercial Customers have been published in the Official Gazette.
For EFT/FAST transactions carried out after 16:00 on weekdays and on weekends, banks were previously able to charge fees up to 50 percent higher than the maximum EFT/FAST tariffs.
With the regulations coming into effect on December 1, 2023, the maximum fee tariff will be applied equally to all EFT/FAST transactions, regardless of the time or day.