The Instant and Continuous Transfer of Funds (FAST) System is a system developed within the CBRT and operated by the CBRT, independent of EFT, through which customers can send payment instructions 24/7 via bank systems.
So what is the Easy Address within the FAST system?
Easy Address is a piece of information about the recipient, which the recipient can define in bank channels and which is easier to enter and use, instead of an account number (IBAN), for the person you want to send money to or make a payment to.
So what information can be defined in bank channels?
The following information can be defined in bank channels:
- Phone number,
- Email address,
- Turkish Republic ID number,
- Tax ID number,
- Foreign ID number,
- Passport number can be matched as an Easy Address and used instead of the account number in money transfers.
Where can I define an Easy Address?
An Easy Address can only be defined through the channels of the bank where the customer’s account is held.
Is a bank required to support the Easy Address system?
Yes, it is. Otherwise, the relevant account cannot be registered in the Easy Address system.
So how does the Easy Address service flow work?
- You log in to the channel of the bank that provides the Easy Address service.
- You select your bank’s Easy Address Definition/Registration menu.
- The account for which you want to define an Easy Address is matched with the Easy Address information that you want to correspond to this account.
I have defined my Easy Address. So what steps do I need to follow to receive a money transfer to my account?
- The Easy Address information defined for the account to which the money is to be sent is given to the person who wants to make the transfer.
- The sender enters the Easy Address information in the recipient account field.
- Based on the selected information, the account holder’s first and last name is shown to the sender in masked form. This way, the sender can be sure they are sending the money to the right person.
- Money transfers made with an Easy Address registration will be used together with the FAST system, the instant funds transfer service operated by the CBRT.
Is it enough for only the receiving account to support the Easy Address system?
For a money transfer through the Easy Address system, both the sender’s bank and the recipient’s bank must support the Easy Address system.
What do I need to do if I want to change my account after registering it in the Easy Address system?
In the Easy Address system, the most recently changed information is taken into account. The previous information is deleted automatically.
Source: https://bkm.com.tr/urunler-ve-hizmetler/kolay-adres/
