Union of Chambers and Commodity Exchanges of Turkey

“The limit imposed on transaction fees will reflect positively in trade life”

11.02.2020 / Ankara

The Union of Chambers and Commodity Exchanges of Turkey (TOBB) President M. Rifat Hisarcıklıoğlu speaking in regards to the regulation containing changes to the Banking Regulation and Supervision Authority’s (BDDK) “Regulation on Procedures and Principles on Fees for Financial Consumers,” stated that they are bringing these issues before the government continuously and the positive result is welcomed by the entire business community.​

Hisarcıklıoğlu statement is as follows:

“For some time, in addition to loan interest, the fees and commissions received by the banks had become a separate expense item. We received many complaints from our traders and industrialists due to the demands of banks and very high fees and commissions under dozens of different names.

In the last 10 years, the transaction fees received by banks have increased 4.5 times. Last year alone, the rate of increase was 34%.

Banks, when using the Central Bank’s EFT system at 20 centimes per transaction, demand that we pay 20 liras per transaction.

Another nuisance was credit early payment/closing commissions. Entrepreneurs who wanted to close the loans they used at high interest were almost punished. Some banks had brought it to the point where those who demanded commissions of 10 points or even above had emerged.

We have raised all these issues constantly with our government. The positive result was welcomed by our entire business world.

The limit on transaction fees is very positive. Both our citizens and our real sector will breathe a sigh of relief. The arrangement will reflect positively on trade life.

I would like to thank those who have contributed to our voice and brought solutions to this important problem, especially our Treasury and Finance Minister Berat Albayrak.”

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