Banks Raise Withdrawal Limits
Banks plan to significantly increase cash withdrawal limits at ATMs and counters starting in early 2025. Currently, daily withdrawal limits range between 10,000 TL and 15,000 TL, but with the new implementation, these limits could rise to as much as 20,000 TL.
A new era for ATM withdrawals As of the first days of 2025, banks are preparing to make significant changes to cash withdrawal operations conducted via ATMs. It is expected that the current daily withdrawal limits, which range from 10,000 TL to 15,000 TL, will be raised to between 15,000 TL and 20,000 TL at many banks beginning in January. The spokesperson newspaper reports that banks currently applying a limit of 15,000 TL will likely increase this amount to 20,000 TL, while banks with a limit of 10,000 TL are predicted to raise their limit to 15,000 TL.
The background of this move in the banking sector is the Central Bank of the Republic of Turkey's (CBRT) decision to halt the printing of new banknotes for a period. This decision has prompted banks to take action, leading to the establishment of new limits for cash withdrawal operations via ATMs. However, banks are also opting to impose restrictions on withdrawing amounts below 20,000 TL from bank counters.
The popularity of QR code transactions is not increasing Recently, ATM transactions have been attempted to be simplified through the use of QR codes. However, this method has been seen as complex and challenging for many users, especially older customers, resulting in lower popularity than expected. Consequently, banks felt the need to regulate cash withdrawals made with cards. The new limit regulations are considered an important step, particularly with respect to card-based transactions.
Changes in banknote usage In addition, some banks have decided to discontinue the use of 50 TL and 100 TL banknotes at their ATMs. This change aims to optimize the capacity of ATMs and expedite transactions. Users can now only withdraw cash using 200 TL banknotes at many ATMs. This situation may lead to changes in habits for customers who wish to withdraw small amounts of money.