Amendments To The Regulatory Framework On Interest Accrual And Safeguarding Under The Payment Services And Electronic Money Legislation Have Been Published

Ozbilen Aykut Attorney Partnership

OA provides their national and international clients operating in different sectors with legal services, ranging from mergers & acquisitions to commercial disputes. Supported by a powerful and agile legal team, OA serves its clients as reliable business advisers, moving their businesses forward by prioritizing their needs and objectives, fostering progressive solutions. OA’s sophisticated understanding of the nuances within tax and corporate law not only amplifies its litigation strengths but also emphasizes the significance of tax implications in commercial transactions. This keen focus on tax considerations as a pivotal element of legal strategy enhances client outcomes and drives the successful progression of their commercial ambitions.

Explore Firm Details

The "Regulation Amending the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers" ("Amending Regulation"), issued by the Central Bank of the Republic of Türkiye ("CBRT"), was published in the Official Gazette dated 19 March 2026 and numbered 33201, and has entered into force.

Turkey Finance and Banking

Article Insights

Ozbilen Aykut Attorney Partnership are most popular:

within Litigation, Mediation & Arbitration, Government, Public Sector and Accounting and Audit topic(s)
with readers working within the Oil & Gas industries

Under the Regulation dated 1 December 2021, provisions regarding, in particular, the interest accrual (remuneration) of electronic money and payment funds, safeguarding of funds, and operational processes have been revised.

The key amendments introduced by the Amending Regulation are summarized below.

1. Possibility of Interest Accrual in Electronic Money Safeguarding Accounts

Within the regulations concerning electronic money safeguarding accounts, the concept of "remuneration" has also been added alongside the concept of "safeguarding".

Funds held in electronic money safeguarding accounts may be remunerated on an overnight basis with banks, and such remuneration does not constitute a breach of safeguarding obligations.

2. Changes in End-of-Day Calculation Times

The end-of-day balances of electronic money safeguarding accounts shall be calculated as of 16:30 on full business days and 12:00 on half business days.

3. Segregation of Funds and Restriction on Use

Funds received in exchange for the issuance of electronic money must be segregated from all other funds, may only be used for purposes permitted under the legislation, and may not be pledged as collateral. Such funds must be tracked on a customer basis.

4. Requests Addressed to Banks

Requests directed to banks shall be fulfilled only with respect to the relevant funds where the bank is aware of the ultimate beneficial ownership, and the bank shall inform the institution without delay.

5. Remuneration Regime (Article 36/A)

Funds denominated in Turkish Lira may be remunerated, while foreign currency funds are excluded. Remuneration shall be carried out only with the banks where safeguarding accounts are held, and the principal and net yield shall be transferred to the safeguarding accounts on the following business day. The yield may be freely used by the institution, while the principal must be preserved.

6. Amendments to Annexes

Annexes 13 and 14 of the Regulation have been amended.

7. Entry into Force

The Amending Regulation entered into force on the date of its publication and shall be executed by the Governor of the Central Bank of the Republic of Türkiye.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.