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Legal Alerts

Transaction Fee For Interbank ATM Use Amended

Legal Alerts
Banking & Finance

Recent Development

The Banking Regulatory and Supervisory Authority (“BRSA“) amended the Regulation on the Principles and Procedures for Transaction Fees to be Collected from Financial Consumers (the “Regulation”) in relation to the transaction fees applicable to interbank ATM use. The amendment was published in the Official Gazette No. 30279 dated December 23, 2017 and entered into force.

What’s new?

With the amendment, new principles have been introduced regarding the fees to be paid by financial consumers for transactions, e.g. withdrawals, by using ATMs of a different financial institution.

  • Prior to the amendment, it was not clear which institutions fall into the scope of the Regulation. The amendment clarifies that the Regulation only covers local financial institutions.

  • Previously, the fees were determined in accordance with the contract between the financial consumer and the financial institution. The amendment is bringing a ceiling pursuant to which the fee to be collected by the financial institution cannot exceed 15% of the fee payable to the other financial institution whose ATM was used. Change in these fees now requires the BRSA’s approval.


Commission rates for interbank ATM use have long been a controversial issue. The amendment which sets an upper limit for such commission rates, seems to address financial consumers’ concerns.

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