As of January 2, 2023, the Central Bank will charge an additional fee of 5% of the determined payment from banks that report incomplete information and documents in money transfers abroad.
In the letter sent from the CBRT to the banks, a warning was given regarding the EFT, money transfer and SWIFT transactions notifications of the banks.
In the article, it was stated that the participants were asked to fill in the details of the payment category in remittance and EFT transactions in transfers from Turkiye to abroad, and it was also emphasized that necessary actions would be taken if missing or faulty applications were not corrected.
In the article, it was stated that it was determined that some banks did not report in accordance with the CBRT’s instructions, and the following was noted:
“In order to increase transparency in the field of payments, as of January 2, 2023, some areas such as payment category details are underreported, erroneous reporting and/or those who cannot prove TL and foreign currency payments with the necessary documents (not presenting the relevant import document in the import payment, an additional fee of 5% of the determined payment will be charged from the banks.”
In the article, in which it was stated that the SWIFT data pattern was also updated, it was informed that the tests regarding the updated data pattern could be carried out on December 26, and reporting in line with this application would begin as of January 2, 2023.
It is stated that the said steps of the CBRT will strengthen transparency in money transfers abroad.
Source: Trthaber / Translated by Irem Yildiz