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.
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.
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.