The upper limit for FAST transactions, which enable fast money transfers between banks, has been raised to 50,000 lira. The new rule was announced on the Central Bank's website with the statement: “As of 21 December 2023, the upper limit for payments per transaction has been raised to 50,000 TL.”
From 21 December, the upper limit for payments per transaction was raised to 50,000 TL. This means balances of up to 50,000 lira can be transferred to any person or institution at any time, 7 days a week, 24 hours a day. For merchant payments with dynamic verification made using FAST-TR QR Code, transactions of up to 100,000 TL can be made at once.
The FAST limit was last changed on 14 February 2023.
The security impact of a higher limit
As the limit increases, the potential loss from fraud attempts also grows. That is why banks apply measures such as additional verification, transaction monitoring and new recipient checks for high-value FAST transactions.
Users also need to avoid sharing their account details with anyone and check the recipient's name before making a transaction.
The figure in this post belongs to that date; for the current limit, see the Central Bank's FAST page.
