New Era in Money Transfers: Mandatory Descriptions for Transactions Over 400,000 TL

New Rules for High-Value Transfers In an effort to combat the informal economy and the laundering of criminal proceeds, Turkey is tightening oversight on money transfers conducted through the banking system.
Starting March 15, 2026, a new regulation will mandate a minimum 20-character description for all transfers of 400,000 TL and above to specify the purpose of the transaction.
Prepared by the Banking Regulation and Supervision Agency (BDDK), this regulation covers all transactions performed via internet banking, mobile applications, and ATMs.
If the total of transfers made within a single day—whether in a single transaction or multiple parts—exceeds the 400,000 TL limit, the system will automatically request detailed information from the user.
Gradual Oversight and Documentation Requirements Under the new system, oversight and documentation obligations will increase progressively as the transaction amount rises.
The procedures to be applied based on the determined limits are as follows: For transactions of 400,000 TL and above, a detailed description of at least 20 characters is required.
For transfers between 2 million TL and 20 million TL, a "Cash Transaction Declaration Form" must be completed.
For transactions of 20 million TL and above, it will be mandatory to submit official documents and additional information regarding the source of the funds.
Transaction Security and MASAK Oversight Implemented in coordination with the Financial Crimes Investigation Board (MASAK), this application aims to more effectively track suspicious money movements within the banking system.
The regulation specifically targets the prevention of illegal betting financing and informal money flows.
Banks will have the authority to refuse transactions if the information provided is deemed insufficient.