The purpose of the Regulation on Bank Cards and Credit Cards is to set out the procedures and principles for the issuance and use of bank cards and credit cards and for the operating principles of institutions in the card payment system.
You can access all the details of the regulation from the link below:
The basis of the Regulation
The Regulation was prepared on the basis of Law No. 5464 on Bank Cards and Credit Cards. While the Law sets the general framework, the regulation governs the details of implementation.
Main topics covered by the Regulation
- Operating licenses for institutions that will issue cards and the conditions they must meet
- Principles for setting and increasing credit card limits
- Information to be provided to cardholders and the content of statements
- Rules on minimum payment amounts and installment transactions
- Procedures to follow when cards are lost or stolen
- Merchant agreements and card acceptance processes
Why does it matter?
In addition to protecting cardholders' rights, the Regulation also governs banks' risk management. For example, setting credit card limits according to the cardholder's income aims to prevent excessive borrowing.
Accessing the current text
The Regulation has been amended many times since it was published. The current text is available at mevzuat.gov.tr. Decisions and regulations published by the BRSA may also affect implementation. That is why the current text should always be the reference in practice.
