Illustration of a money transfer being sent from one payment card to another

Card-to-Card Money Transfer (CCMT) is a service that lets customers send money, 24/7, from their credit, debit, or prepaid card to another card through channels such as ATMs, internet banking, call centers, and mobile phones (banking apps, mobile wallets, etc.).

This service is not yet offered through POS terminals, although it is planned to be rolled out on POS devices in the near future.

How many different parties can be involved in a card-to-card money transfer?

There can be three different parties in the money transfer process:

  • Sending Issuer: The card bank of the cardholder who sends the money
  • Receiving Issuer: The card bank of the cardholder who receives the money
  • Acquirer: The card-accepting bank whose channels are used for the money transfer (for example, the ATM's bank)

Do I have to pay a fee for a card-to-card money transfer?

Yes, a commission is charged to the cardholder on CCMT transactions. The commission is usually taken as a certain percentage of the transaction amount plus a fixed fee (for example, 3.75% + 3 TL).

Points to watch out for in a card-to-card money transfer:

  • If the credit card limit is sufficient, a card-to-card money transfer can be made independently of the account balance.
  • In card-to-card or card-to-account transfers, a cardholder cannot transfer from their credit card to their own account.
  • EFT/wire transfers made from a credit card cannot be cancelled.
  • A credit card balance cannot be paid off by making an EFT/wire transfer from that same credit card.
  • If the credit card limit is not available, the resulting transaction fee can be collected from the account instead.
  • EFT and wire transfer transactions made from a credit card do not earn points.

What Are the Risks of a Card-to-Card Money Transfer?

With the "card-to-card money transfer" feature, customers can transfer money using a credit card or a debit card. In other money transfer transactions (wire transfer/EFT), the reason for the transfer can be specified as rent or other, but in the interbank card-to-card money transfer feature, even though it is technically an EFT transaction, the rent-or-other distinction cannot be made.