Turkey is changing the rules for IBAN transfers.

MASAK, under the Ministry of Finance, is introducing a new procedure for large-scale financial transactions to improve transparency and combat illicit financial flows.

From January 1, 2026, all transfers of 200,000 TL and above will require mandatory clarification:

•  200,000 – 2 million TL – short description of the purpose
• 2 – 20 million TL – mandatory notification form
• 20 million TL and above – detailed explanation + documents

When making transfers, banks will automatically suggest the appropriate explanation format. Important: wording like "personal payment" will no longer be acceptable—the text must be at least 20 characters long.