The “Communiqué Amending the MASAK General Statement” prepared by the Ministry of Treasury and Finance entered into force after being published in the Official Gazette.
With the said amendment, it was aimed to respond to the increase requests from the liable clusters and to comply with the Financial Action Mission Force (FATF) standards. In this context, the financial amounts determined in the declaration, which envisages simplified measures in identification, were increased due to neediness.
In life insurance where a simplified measure will be applied (no confirmation is required), the total premium amount to be paid within a year has been increased from 5 thousand liras to 12 thousand liras, and in single premium insurances, the premium amount has been increased from 12 thousand 500 liras to 25 thousand liras.
Among the amounts that do not have to be identified in the processes of prepaid cards, the cash withdrawal price ranges from 500 TL to 1000 TL in one year, the price of large money is from 1250 TL to 2 thousand 750 TL for disposable and reloadable cards, and the total loading limit for cards that can be reloaded is one. In any case, the balance was increased from 1250 lira to 2 thousand 750 lira, with the amount of balance that can be loaded within the month.
Withdrawal amount increased in mobile payment service processes
In the processes for the supply of electronic money carried out by payment and electronic money institutions, the cash withdrawal price from 500 lira to 1000 lira within the same year, in the absence of the possibility of reloading, the price of the electronically stored fund is from 1250 lira to 2 thousand 750 lira, and the total loading limit for cards that can be reloaded is one. In any case, the balance was increased from 1250 lira to 2 thousand 750 lira with the balance measure that can be loaded within the month.
In the processes of the payment service (mobile payment service) offered through electronic communication services, the one-time process amount was increased from 500 lira to 1000 lira, and the monthly process amount from 1250 lira to 2 thousand 750 lira.
The prices in question were last updated in February 2021 within the scope of legislative changes made with the aim of complying with FATF standards.
The Communiqué will enter into force on 1 February.
