Amendments to the Communiqué on Procedures and Principles Regarding the Fees that Banks can charge Their Commercial Clients

Important amendments are made through the Communiqué ("Communiqué No. 2020/11"), regarding the Amendment of the Communiqué on Procedures and Principles Regarding the Fees That Banks Can Charge Their Commercial Clients ("Communiqué No. 2020/4"),  published in the Official Gazette dated March 29, 2020 and No. 31083. The Communiqué No. 2020/11 shall enter into force on April 1, 2020.

Pursuant to the newly legislated Communiqué No. 2020/11, the matters, which are out of the Communiqué No. 2020/4's scope, have been expanded. Therefore, the banks, in which İstanbul Takas ve Saklama Bankası A.Ş. is the majority shareholder and the foreign branches, ATMs and any other operations of all other banks, are out of the Communiqué No. 2020/4's scope. The definitions of "reference ratio" and "commercial customer" have also been revised.

The amendments in Article 5 (Rules on Information) of the Communiqué No. 2020/4 envisage that the Central Bank shall be notified primarily, in case the maximum tariff regarding the commercial customers will be amended and any amount, which exceeds the maximum tariff, cannot be collected.

Additionally, the details regarding the obligation to inform the client about the fee to be collected before the provision of goods or services by the banks have also been amended.  

Also, pursuant to the amendments in Article 7 (Changing the Fees) of the Communiqué No. 2020/4, the commercial customers shall be notified about the amendments of the standard fees of the good and services, which have been initially determined to be applied in the same amount for a certain period.

You may access the full text of the Communiqué No. 2020/11 here.