FAST Limit Increased: Higher Money Transfers Now Available!
The Central Bank has increased the limit for sending money with FAST. Higher amounts can now be sent in money transfers.
The Central Bank of the Republic of Turkey has made a comprehensive update to the FAST (Funds Instant and Continuous Transfer of Funds) System, raising the upper limit of payments per transaction.
With this important change, users will now be able to EFT balances up to the new upper limit to any person or institution at any time, 24/7.
The FAST system is known as a payment system that enables instant money transfers at any time. After the update, the new upper limit per transaction will make financial transactions more flexible and user-friendly.
Central Bank Announced: Upper Limit Increased!
The Central Bank of the Republic of Turkey issued a new statement regarding the amendment to the FAST (Instant and Continuous Transfer of Funds) System. According to the information published on the Central Bank’s website:
As planned and announced to FAST participants in December 2023, taking into account the interest of users in the FAST system and the dynamic requirements of the payments ecosystem, as of April 4, 2024, FAST transaction amount limits will be increased from TRY 50,000 to TRY 100,000 for money transfers and from TRY 100,000 to TRY 250,000 for dynamically verified merchant payments using the FAST-TR QR code.
Looking at the statement made, we see that the new upper limit has been increased to 100 thousand TL. It was stated that up to 250 thousand TL can be processed at one time in dynamic verified workplace payments to be made using the FAST-TR QR Code.
With this announcement, the FAST limit was last changed on December 22, 2023. With this update, users will be able to trade larger amounts and manage their financial transactions more easily.
