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Legal Alerts

Updates to Banking Fees

Legal Alerts
Banking & Finance

Recent Developments

The Amendments (“Amendments“) to Communiqué No. 2020/4 on the Procedures and Principles Regarding Fees That Banks Can Charge to Corporate Clients (“Fee Communiqué“) and Communiqué No. 2020/7 on the Procedures and Principles Regarding Fees to be Charged to Financial Consumers (“Financial Consumer Communiqué“) entered into force through their publication in the Official Gazette No. 31563 dated 9 August 2021.

Please see our previous client alerts below regarding the Fee Communiqué.

What’s New?

Significant Amendments to the Fee Communiqué include the following:

• The fees for credit facilities extended under loan agreements for project finance, merger and acquisition finance, privatization finance and structured finance, or restructuring these facilities will not fall under the scope of commercial loans. In other words, such transactions shall not be subject to the restrictions related to the fees for loan allocation and utilization, collaterals, prepayment under the Fee Communiqué.

• The fees for collaterals (pledge and mortgage perfection, and valuation costs) will not exceed 115% of the amount paid by the bank to third parties for perfection or valuation; in cases where the bank provides the relevant service, a reasonable service fee will apply.

• Fees for the electronic fund transfers (“EFT“) made via ATMs will not exceed TRY 4 (instead of TRY 2) per transaction for transactions in an amount equal to or lower than TRY 1,000; and TRY 8 (instead of TRY 5) per transaction for transactions in an amount between TRY 1,000 and TRY 50,000.

• For transactions made via a card issued by a foreign bank, the maximum applicable merchant fee will be 1.9% (instead of 1.6%) if the transaction amount will be transferred to the relevant merchant the day following the transaction.


The Amendments have updated certain banking fees.

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