Regulation of additional fees of the Central Bank for international money transfers

In the letter sent to the banks by the Central Bank of the Republic of Turkey (CBRT), a warning was made about EFT, money transfer and SWIFT transaction notifications from banks.

In the article, it was stated that the participants were asked to fill in the payment category details in remittance and EFT transactions in transfers from Turkey abroad.

UP TO 5 PERCENT ADDITIONAL CHARGE

In the article, it was noted that some banks were found to have failed to report in accordance with CBRT instructions, noting the following:

“In order to increase transparency in the field of payments, banks that do not report some areas, such as payment category details, misreport and/or do not document foreign currency and TL payments with the documents. necessary (such as not presenting the import documents in the import payment, loan payment, stock operations) From the date of the determination, an additional fee of 5 percent of the determined payment will be charged.

In the article, which said that the SWIFT data pattern was also updated, it was said that the tests against the updated data pattern could be done on December 26, and the online reporting with this application would start from of January 2. , 2023. (BRITISH AUTOMOBILE CLUB)