Banks' ATM decision ahead of the holiday

The surge in cash demand ahead of Eid al-Adha, which begins on June 6, has led banks to raise withdrawal and deposit limits at ATMs. Banks aim to provide convenience to their customers by also increasing limits for card-based transactions and QR code withdrawals.

However, due to the impact of high inflation in Turkey and the Central Bank of the Republic of Turkey not printing new banknotes, the variety of banknotes available in ATMs is limited. While 200 TL banknotes make up the vast majority of currency in circulation, access to 20, 50, and 100 TL banknotes has become difficult. This situation is causing banks to load more 200 TL banknotes into ATMs.

According to a report by Sözcü, older-model ATMs, which are common across Turkey, do not allow money deposited by one customer to be withdrawn by another. However, new-generation ATMs could offer a solution to this problem. These ATMs, which are planned to become more widespread in major cities such as Istanbul, Ankara, and Izmir, allow for the withdrawal of deposited 20, 50, and 100 TL banknotes.

Thus, the 'single-denomination banknote' problem at ATMs is expected to be resolved.

News Source: 12punto