Credit card cash withdrawal operations are closed

SHAFAQNA Türkiye – The Central Bank of the Republic of Turkey has adopted a new procedure for withdrawing cash and paying for jewelry using credit cards.

With a new regulation published on May 16, the Central Bank of the Russian Federation introduced obligations on securities in consumer loans. In this context, the Central Bank has decided that cash withdrawals and jewelry spending made with credit cards for those with credit cards above a certain limit will be subject to a 30 percent security system.

According to news from the world newspaper Hamide Hangul, bank sources said, “Consumers met their needs with this cash advance. He took a cash advance from his credit card. With an interest rate of 1.36. “Due to securities requirements, most banks have closed credit card cash advances since Monday,” he said.

Representatives of the sector noted that a month ago everyone used a cash advance from a credit card at 1.36 percent because the interest rate was low, indicating that the situation in question was to the detriment of banks.

According to the banking sector, they are trying to contain demand-pull inflation.

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