With FAST (Instant and Continuous Transfer of Funds), developed by the Central Bank of the Republic of Türkiye, you can make your money transfers in a secure, fast and uninterrupted manner 24/7.
Money transfers in Turkish Lira through FAST reach the recipient's account in just a few seconds.
FREQUENTLY ASKED QUESTIONS
What is FAST?
FAST, which in Turkish stands for “Instant and Continuous Transfer of Funds”, is a payment system developed by the Central Bank of the Republic of Türkiye that enables Turkish Lira transfers to take place instantly and securely 24 hours a day, 7 days a week.
Who can transfer money with FAST?
Our Retail and Corporate customers can easily send money and receive incoming transfers with FAST via ICBC Turkey Mobile and Internet Branch.
Which channels can I use to transfer money with FAST?
You can transfer money with FAST through ICBC Turkey Mobile Branch and the Internet Branch.
How much money can I transfer with FAST?
In FAST transactions, the limit per transaction is 100,000 Turkish Liras and this amount is determined by the Central Bank of the Republic of Türkiye.
What is the fee for FAST transactions?
There is no fee for the FAST transactions for our retail customers who utilise the Mobile Branch.
The fees for FAST transactions done by the retail customers through the Internet Branch and corporate customers through ICBC Turkey Mobile Branch and the Internet Branch are determined by the Central Bank of the Republic of Türkiye. The fees are set taking into account the maximum fee limitations put by the Central Bank of the Republic of Türkiye for EFT (Electronic Funds Transfer) transactions. You can access more information for the ICBC Turkey FAST fees by visiting our Product and Service Fees page.
Can I make foreign currency transfers with FAST?
FAST can only be used for the transfer of Turkish Lira.
Can I make FAST transactions from my credit card?
FAST transactions can only be made through demand deposit accounts.
How is FAST different from EFT?
In the EFT system, there is no committed time period for the transaction to the receiving account realizes. The transaction time may be longer than usual depending on the factors such as the infrastructure of the sending and the receiving banks and the amount of the money sent. In the FAST system, transactions take place in seconds. Transactions that are not completed within 25 seconds are automatically canceled. In addition, each successful or unsuccessful transaction is instantly notified to the parties.
How does the process continue if the transaction does not meet the FAST criteria?
If the transaction entered does not meet the FAST criteria, the transaction is processed as an EFT. If the EFT times have passed or the transaction falls on a weekend, the transaction is processed as a future dated EFT.
Is there a separate menu for FAST transactions?
FAST transactions can be done by following the Money Transfers > EFT/FAST menu after logging in to ICBC Turkey Mobile Branch or the Internet Branch. If the transaction criteria are met for FAST, the transaction occurs as a FAST.
You can also connect to the money transfer menu via the FAST Transactions > Send Money menu on the Mobile Branch login screen.
Can I make instant money transfers with FAST only to an IBAN?
- When sending instant payments with FAST, you can use the recipient's Easy Address (KOLAS) information (such as mobile phone number, e-mail address, passport number, Turkish ID number or tax ID number), as well as the IBAN information.
- When receiving instant payments with FAST, you can share your IBAN information with the sender, as well as your Easy Address (KOLAS) information (mobile phone number, e-mail address, Turkish Republic Identity Number, tax ID Number, etc.) registered in our bank.