Adjustment to ATM limits ahead of the holiday

The increase in ATM withdrawal limits, which has been a topic of public discussion for some time, has now taken effect. Banks have updated their daily ATM withdrawal limits to meet the increased demand for cash, particularly during Eid al-Adha. Some private banks have raised the limit, which was previously 10,000 TL, to as much as 20,000 TL.

NEW UPPER LIMIT RAISED TO 20,000 TL

In a statement from a private bank, it was noted, “Customers in all segments will be able to withdraw up to 20,000 TL free of charge using card or cardless methods, while transactions between 20,000 and 30,000 TL will be subject to a fee.” This limit increase may soon be implemented by other banks as well.

COMMISSION FEES SPARK DEBATE

Those wishing to withdraw large amounts of cash from ATMs are forced to pay extra commissions on transactions exceeding the limit. However, whether this practice is legal has raised questions among citizens.

EXPERT: “COMMISSION MAY BE LEGAL, BUT THERE IS A CHANCE FOR A REFUND”

Certified Public Accountant Ahmet Kurtuluş stated, “If banks have clearly specified this situation in their contracts, the commission is considered legal. However, if it was not specified, citizens can request a refund of the commission and, if necessary, apply to the Consumer Arbitration Committee.”

WILL THE LIMIT INCREASE BECOME WIDESPREAD?

Kurtuluş assessed, “Not all banks have gone for a limit increase yet. However, market conditions and customer demands will force other banks to make similar decisions. We may see further increases in ATM limits by Eid al-Adha.”

News Source: 12punto