Central Bank Increased FAST System Transfer Limits
In line with high public demand, the Central Bank has raised the upper limits for money transfers and QR code payments valid in the FAST system.
New limits have been implemented for FAST, the instant and continuous money transfer system launched by the Central Bank in 2021. The regulation, enacted taking into account current needs and growing interest, covers interaccount money transfers and QR code merchant payments.
New Era Begins in the FAST System
The FAST system, the Funds' Instant and Continuous Transfer system implemented by the Central Bank, enables fast and secure financial transactions every day of the week and at any hour of the day.
The intense interest shown by citizens in the system and changing requirements in the payment sector played a decisive role in updating the limits.
Interaccount Transfer Limit Increased
With the new regulation, the limit for money transfers and Payment Request applications carried out by citizens between accounts has been significantly increased.
This transfer limit, which was previously 100 thousand liras, has been raised to 300 thousand liras with the update.
QR Code Payment Limits Changed
An upward revision was made in FAST limits not only for individual transfers but also for transactions in the commercial field.
The limit applicable to payments made at workplaces using FAST-TR QR Code was raised from 250 thousand liras to 300 thousand liras.
Opportunities Offered to Investors and Citizens
Thanks to the new limits that have come into effect, citizens will be able to easily use the FAST system even for higher-amount purchases as an alternative to cash or traditional card methods.