Press Release on Increasing FAST System Transaction Limits (2024-16)
No: 2024-16
2 April 2024
Press Release on Increasing FAST System Transaction Limits
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As of 4 April 2024, the FAST transaction limits will be raised to TRY 100,000 for money transfers and TRY 250,000 for merchant payments using FAST-TR QR Code. |
FAST (Instant and Continuous Transfer of Funds), a new generation instant payment system developed by the Central Bank of the Republic of Türkiye and launched on 8 January 2021, offers secure, fast, and easy payments around-the-clock with its overlay services and innovative approach to payments in Türkiye. The system is rapidly becoming widespread as an alternative method to cash and card payments for purchasing transactions.
Given the users’ interest in the FAST System and the dynamic requirements of the payments ecosystem, and as planned and announced to FAST participants in December 2023, as of 4 April 2024, the FAST transaction limit for money transfers will be raised to TRY 100,000 from TRY 50,000, and the limit for merchant payments with dynamic verification using FAST-TR QR Code to TRY 250,000 from TRY 100,000.
Contact
For further information, please send an e-mail to basin@tcmb.gov.tr