Turkey: Mandatory requirements for cash instructions over TRY 10 million
Clearstream Banking1 would like to inform customers of the new mandatory information requirements for cash instructions to process interbank funds transfers in Turkey.
the Central Bank of the Republic of Turkey (CBRT) has updated the mandatory information requirements for Turkish Lira (TRY) to be provided in all cash instructions (interbank funds transfers) processed via SWIFT MT202 and MT103 for payments over TRY 10 mn.
Impact on customers
Customers are required to include Purpose of Payment in their cash instructions. No compliance to the requirement may result in rejection.
SWIFT MT202/MT103: It is mandatory to include the Sender to Receiver Information in field 72. See the table below:
Field 72: Sender to Receiver Information
Interbank transfers require Purpose of Payment specification.
This is achieved by using following code words in this field:
/BNF/to specify the full explanation of Purpose of Payment
(this field is only mandatory for payments > TRY 10 mn)
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.