Cash advances, overdraft accounts and jewelry expenditures made by card, up to ₺15 thousand, will not be covered by the securities liability.
The Central Bank of the Republic of Turkiye (CBRT) has regulated cash advance and overdraft accounts.
The CBRT sent an application instruction to the banks for the details of the regulation.
Accordingly, while changing the scope of banks’ loans subject to security establishment, over ₺15 thousand will be taken into account in the security establishment limitation.
Thus, cash advances, overdraft accounts and jewelry expenditures made with cards up to ₺15 thousand will not be covered by the securities liability.
While the securities facility is under the initiative of the banks, amounts over ₺15 thousand can continue to be used, provided that there is an additional obligation to the banks.
Source: Trthaber / Prepared by Irem Yildiz