In FAST (Instant and Continuous Transfer of Funds), the new payment system launched by the Central Bank of the Republic of Türkiye (CBRT) on 8 January that lets citizens transfer money between their accounts at different banks 24/7, the limit that started at 50 TL was raised to 250 TL on 14 January. The same limit was raised to 500 TL on 21 January. It will be raised to 1,000 TL on 28 January.
Why were the limits raised gradually?
When a new instant payment system is put into service, risk and operational load are managed cautiously. A low limit at the start limits fraud risk and allows the system to scale.
The limit is raised as long as participating banks have no problems in the system. This approach is common in new payment systems.
The figures in this post are historical. To find out the current limits, check the information from the Central Bank or your bank; institutions may also apply lower daily limits internally.
