Central Bank launches new account-to-account transfer system

The primary distinction of this new service compared to traditional P2P (person-to-person) transfers is that transactions are conducted directly between bank accounts (A2A) rather than relying on card numbers. The Central Bank clarified that users do not need to open new or separate cards to use this feature, as all existing bank cards are already fundamentally linked to a bank account.

Technically, the Central Bank has already provided all commercial banks in the country with access to this service. Moving forward, A2A transfers will be integrated into and made available through the mobile applications of individual banks.

Regarding the cost of these transactions, the regulator emphasized that commercial banks will determine their own commission rates in accordance with their internal tariff policies. Consequently, fees may vary significantly depending on the specific bank and the nature of the service selected by the customer.

The Central Bank stated that, within the framework of a market economy, it does not intervene as a regulator in the process of setting these commissions. Furthermore, the Main Information Center does not participate in establishing fees, as it provides the technical infrastructure rather than direct payment services to end consumers.

In light of these self-regulated tariffs, the Central Bank has advised citizens to study the rates and conditions offered by various banks in advance. By comparing these options, consumers can choose the most suitable and cost-effective financial services based on their personal needs and preferences.