With the advancement of technology, money transfer transactions have gained importance. You can make money transfers without going to the bank thanks to mobile and internet branches Money transfers between accounts are called havale; transfers between banks are called EFT. Now you can make your transactions much faster and without any time restrictions. With Morpara, you can make money transfers on weekends or outside of business hours if you wish.
How to Make a Money Transfer
Money transfers can be made via havale and EFT. If you want to make a havale, you will need to use some information belonging to the recipient. The information you will need is the 26-digit IBAN information or the branch and account number. With this information, you can make havales via internet, mobile, phone and ATM. When making a havale with IBAN, you usually make the transaction through the 'havale' option in the 'money transfer' section on your mobile branch or ATM. After following the instructions, enter the IBAN number of the person to whom the money will be sent and approve the matched information, and the money will be transferred to the other party. Another method is EFT, which stands for Electronic Funds Transfer. EFT is the preferred money transfer method when the recipient and sender have different banks. When making an EFT, the IBAN information, name and surname of the person to whom the money will be sent are also used. In addition, an account transaction fee, which varies from bank to bank, is also deducted from your account. So, when making a money transfer, make sure that in addition to the amount you want to send, the transaction fee is also in your account. With Morpara, all havale and EFT transactions are free.
What is FAST 24/7 Money Transfer?
First of all, it is necessary to answer the frequently asked question "What does FAST money transfer mean?". FAST, an acronym for “Instant and Continuous Transfer of Funds” in Turkish, is a new and easy method that allows you to make faster money transfers between banks. In this method, the bank offers its customers money transfer and payment services with IBAN and Easy Address options. Moreover, it allows you to make 24/7 money transfers, leaving all other money transfer methods behind. With Easy Address, you can match your mobile phone, ID, tax, passport numbers or email address with IBAN and make FAST transactions 24/7.
How to Make a FAST Money Transfer
With FAST, you can also make transfers on weekends and outside of business hours. Since it is an instant payment system, transactions are completed within seconds. Once you approve, your payment reaches the recipient in the financial institution in just a few seconds. When making a transfer with FAST, you can use the IBAN information of the recipient if you wish, or you can send money 24/7 without using IBAN with the Easy Address option and a defined mobile phone number, Turkish ID number, tax ID number, foreign ID number or email address. Due to the intensity of preference, 24/7 money transfer limit is limited within the limit. It has been determined by the Central Bank of the Republic of Türkiye Head Office as 100,000 TL transaction per day. You can use this limit once or at different times during the day. In addition, the FAST money sending transaction is subject to a fee. The money sending fee for this transaction is again determined by taking into account the maximum fee limits determined by the Central Bank of the Republic of Türkiye Head Office for EFT. You can follow the notifications sent by your financial institution where you made the transaction to see if the transaction has been completed. If you are on the sender side, you will be notified by the financial institution about the payment being made or not; If you are on the recipient side, you will be notified by the financial institution when the funds are credited to your account.
With Morpara, a FAST member, you can make all your money transfer transactions 24/7.