The Central Bank of Turkey, after a month of testing on Friday, allowed banking structures to use the FAST instant transfer system.

The FAST bank transfer system is available to all banks from today.

The advantages of such transfers will be:

  • Round the clock (money can be transferred 24/7, and not only during banking hours on weekdays)
  • "Easy Address" ("Kolay Adres" - instead of the IBAN number, you can find the recipient by e-mail, phone number or kimlik)
  • Instantly between different banks (much faster than old EFT transfers)