FAST Transaction Limit Will Be Increased

FAST transaction limit will be increased in Turkey. The transaction limit, which is 1,000 TL in the FAST system, will be 2,000 TL as of August 4, 2021.

It was decided to increase the upper limit in the FAST system. In the statement made by the Central Bank of the Republic of Turkey (CBRT), it was stated that the transaction limit, which was 1,000 TL, will be revised as 2,000 TL as of August 4, 2021. It was also stated that CBRT aims to increase the amount limit further in the coming period. In addition, it was reported that the technical preparations and regulations required for banks as well as Payment and Electronic Banking Institutions within the scope of Law No. 6493 to join the FAST System have been implemented, and participation requests have begun to be received. It was noted that organizations that meet the technical and operational conditions required for participation in the system and are successful in the tests will be able to participate in the FAST System.

Number of Users Reached Above 11 Million

According to the information given by the CBRT, around 2 million instant payments were made daily with the FAST System, which was put into use as of January 8, 2021. It was stated that the number of users registered with the Easy Addressing System for the initiation of payments reached 11.3 million.