Turkish banks raise money transfer fees by 30.9% as inflation adjustment kicks in

Turkish banks are set to implement a sharp increase in digital money transfer fees of around 30.9%, in line with Türkiye's 2025 year-end inflation rate, as required by regulations, according to notifications sent to clients.

The update applies to electronic funds transfers (EFT), wire transfers, and other digital money transfers across banks and will take effect by Feb. 5, according to the information.

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Tiered fee structure based on transfer size

The new commission schedule introduces a tiered system based on the value of the transfer:

• For transactions up to ₺8,300 ($192.83), the transfer fee is set at ₺8.37 ($0.19).
• Transfers ranging from ₺8,300 to ₺399,000 ($9,269.86) now incur a fee of ₺16.76 ($0.39).
• For large-value transfers exceeding ₺399,000, banks will charge a commission of ₺209.38 ($4.86) per transaction.

The revision is intended to reflect rising costs and preserve the real value of service revenues amid inflationary pressures.

A view of the Istanbul Financial Center in Istanbul, Türkiye, January, 14, 2025. (Adobe Stock Photo)

Digital banking adoption in Türkiye hits new highs

The increase in transfer fees comes as Türkiye continues to see rapid growth in digital banking adoption.

As of September 2025, the number of registered digital banking customers, counting both individuals and businesses, stood at 126.1 million.

In the third quarter alone, these users carried out approximately 1.74 billion transactions, amounting to a total transaction volume of ₺46.51 trillion ($1.08 trillion), figures from the Banks Association of Türkiye (TBB) show.

For the first 11 months of 2025, Turkish banks reported ₺512.3 billion ($11.90 billion) in total non-interest revenues, which include transaction fees, service charges and other ancillary income sources.

January 07, 2026 07:03 AM GMT+03:00