Amendment to the Communiqué on the Printing Method of Cheque Books and Determination of the Amount that Banks are Obliged to Pay to the Bearer
The Central Bank of the Republic of Turkey published the Communiqué on the Amendment to the Communiqué on the Printing Method of Cheque Books and the Determination of the Amount that Banks are Obliged to Pay to the Bearer (Issue: 2025/3) (Communiqué) in the Official Gazette on 24 January 2025.
The Communiqué came into effect on the date of its publication in the Official Gazette.
The amendments introduced by the Communiqué are as follows:
– In the event that a cheque is entirely uncovered, the bank on which the cheque is drawn is obliged to pay 12,650 Turkish Liras if the cheque amount is 12,650 Turkish Liras or more. If the cheque amount is less than 12,650 Turkish Liras, the bank is required to pay the full cheque amount.
– If the cheque is partially covered, and the cheque value is 12,650 Turkish Liras or less, the bank is required to pay an amount that completes the partial coverage up to 12,650 Turkish Liras, provided it does not exceed the cheque value. If the cheque value exceeds 12,650 Turkish Liras, the bank must pay 12,650 Turkish Liras in addition to the partial coverage, provided the total does not exceed the cheque value.
– For cheques issued before the Communiqué, the bank is required to pay up to 11,120 Turkish Liras per cheque leaf if the cheque presented on time is not covered. In cases of partial coverage, the bank is obliged to pay up to 11,120 Turkish Liras per cheque leaf.
You can reach the relevant Communiqué here (only available in Turkish).
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