Banks send messages one after another... The era of cash payments is over!

In the messages sent to their customers, banks issued warnings regarding the regulation that was published in the Official Gazette and entered into force, which restricts the use of cash for purchases exceeding 7 thousand liras.

THE ERA OF CASH PAYMENTS IS OVER

Those who see these messages are surprised to learn that their payments over 7 thousand liras can no longer be made in cash but must be made by card; however, the communiqué regarding this was published in the Official Gazette and entered into force in recent days.

According to the new Tax Procedure Law Communiqué, which was published in the Official Gazette on October 18 and entered into force, cash payments can now only be made in very small amounts.

Transactions involving large sums over 7 thousand liras will only be carried out through payment channels via financial institutions, meaning credit cards or debit cards.

DIFFICULTIES BEGIN FOR THOSE WHO DO NOT USE CREDIT CARDS

This situation will most affect consumers who carry cash in their pockets and do not conduct any of their transactions with credit or debit cards.

Those who are hesitant to use credit cards will face the most difficulty in these transactions.

According to the fresh communiqué, both those who conduct transactions contrary to the rule—that is, those who pay in cash—and those who receive cash will be penalized separately.

BANKS ARE INFORMING THEIR CUSTOMERS

The new cash rule is causing confusion among customers who are unaware of this communiqué.

Due to the confusion, banks are informing their customers about this issue through SMS, voice calls, and emails.