'Description' and 'Personal Account' Warning for IBAN Transfers: What are the Legal Risks?

The Description Field Serves as Evidence Money transfers via IBAN, frequently preferred for daily payments, carry various legal and financial risks for both senders and recipients.
In particular, some businesses direct customers to personal IBAN accounts to avoid credit card commissions or to conduct unregistered transactions, which can leave consumers in a difficult legal position.
Prof.
Olgun Değirmenci, a faculty member at TOBB ETÜ Faculty of Law, stated that filling out the description section during money transfers prevents misunderstandings.
Değirmenci emphasized that if the sent money is for a contractual obligation or debt payment, this must be noted.
Stating that notifications made by banks could lead to investigations by the Financial Crimes Investigation Board (MASAK), Değirmenci warned that even if the source of the money sent to an IBAN is not criminal proceeds, interaction with risky accounts could raise suspicion about the individual involved.
Business Accounts Should Be Preferred Prof.
Mustafa Çolak, a faculty member at Ankara Social Sciences University Faculty of Law, drew attention to the fight against the informal economy and said that payments should be made to the registered bank account of the business instead of the personal account of the business owner or employee.
Çolak mentioned the importance of using clear expressions such as "car repair fee," "rent payment," or "private lesson fee" in the transfer description.
Experts noted that such records will serve as evidence in future commercial disputes and reminded that high-value transfers made regularly without descriptions are under scrutiny in tax audits.
Tax Audits and Penalties If these transactions are considered unregistered income, penalized taxation processes can be initiated against both the businesses and the relevant account holders.
Experts advise consumers to check whether the commercial title of the party they are paying matches the account holder and to conduct all transactions within the registered economy to avoid victimization.