Turkey banking sector shifts ATM banknote distribution and faces new scams

Banking operations in Turkey are undergoing significant changes regarding cash management and security. Banks are increasingly prioritizing high-denomination banknotes, such as 100 and 200 TL, in ATM cassettes to maximize cash capacity and reduce operational logistics costs. This shift means that lower denominations like 10, 20, and 50 TL are being phased out of many machines, which can prevent customers from withdrawing specific amounts that are not multiples of the available banknotes.

Simultaneously, new fraudulent methods are targeting banking users. Scammers are exploiting the FAST system’s ‘Request Payment’ feature by creating a false sense of urgency. They contact victims claiming a transfer is stuck in security checks, tricking them into approving a payment request rather than receiving a deposit. Additionally, physical ATM security remains a concern, with reports of ‘money traps’ where devices are tampered with to prevent cash from being dispensed, and risks of card skimming at entry points.

In cases of accidental transfers to the wrong IBAN, experts advise immediate contact with the bank. While banks cannot unilaterally withdraw funds from a recipient's account once a transfer is complete, they can initiate a return request through the receiving institution.