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FAST
FAST (Instant and Continuous Fund Transfer) is a service developed by the Central Bank of the Republic of Turkey that enables 24/7 instant interbank money transfers.
Easy Address (KOLAS)
The Easy Address system allows linking information such as GSM Number, T.R. ID Number, or email with account details, providing an alternative to using IBAN.
- Customers can utilize both IBAN and Convenient Address information for money transfers through the FAST system.
- Turkish Lira and current accounts can serve as Easy Addresses.
- Information such as GSM Number, email, T.R. ID Number, Foreign Identification Number, Tax Identification Number, and passport number can be designated as Easy Address.
- Transactions are processed without any fees or commissions.
- Each Easy Address can be linked to a maximum of one IBAN, with the latest pairing replacing any previous associations.
- Multiple Easy Addresses can be associated with the same IBAN.
- Easy Address details are easily modifiable.
- Customers can have up to five (5) designated Easy Addresses.
- Transactions are available for processing 24/7.
Application Channels
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Frequently Asked Questions
What distinguishes FAST from Retail Payment System?
- FAST operates on a 24/7 basis, while Retail Payment System is restricted to business hours.
- FAST transactions are instantaneous, with funds transferred immediately to the recipient's account.;
- Retail Payment System transactions typically involve higher amounts compared to the lower-value transactions handled by FAST.
Will there be a separate menu for FAST?
Upon entering transfer details, the system determines whether the transaction will proceed via the Retail Payment System or FAST based on factors such as recipient bank availability, transaction amount, and date.
