The FAST system, which went live at 20 banks on 8 January and enables faster money transfers, had its transaction limit set at 500 TL on 21 January. This limit will be updated to 1,000 TL as of 28 January.
So can I make every transaction through FAST? What criteria must a transaction meet for me to make it through FAST?
- TL money transfers from an account to a different bank,
- Money transfers made to an IBAN or an Easy Address,
- Money transfers where the transaction amount does not exceed the upper limit set by the CBRT (currently 500 TL),
- Money transfers that are not scheduled for a future date are considered within the scope of FAST.
How have the criteria changed over time?
The amount limits in this article are temporary values from the system's first weeks. Later, the limits were gradually increased by the Central Bank and the system became widespread.
The core criteria that have not changed are: the transaction must be in Turkish lira, sent immediately (not scheduled for a future date), the sender's and recipient's accounts must be at institutions participating in FAST, and the amount must be below the current limit.
For the current limit and list of participants, the CBRT's FAST page or your bank's announcements should be taken as the basis.
