Central Bank announced: Transaction amount limit in the FAST system has been increased – Last Minute Economy News
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Instant and Continuous Transfer of Funds (FAST) system transaction amount limits; As of April 4, 2024, it will be increased to 100 thousand liras for money transfers and 250 thousand liras for workplace payments made using the FAST-TR QR code.
In the announcement of the Central Bank of the Republic of Turkey (CBRT), it was stated that FAST, the new generation instant payment system developed by the CBRT and put into use as of January 8, 2021, will provide you with a safe, fast and easy way at any time of the day with the innovative approach and layer services created in the field of payments in Turkey. It was stated that it allows payment and is rapidly becoming widespread as an alternative method to cash and card payment methods in shopping transactions.
In the announcement, the following was noted:
“As planned and announced to FAST participants in December 2023; considering the interest shown by 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 50 thousand lira to 100 thousand lira in money transfers, with dynamic verification using the FAST-TR QR code. “For workplace payments, it will be increased from 100 thousand lira to 250 thousand lira.”
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