FAST Payments
in Turkey
Real-time 24/7 TRY payment via Turkey's FAST interbank rail.
FAST in Turkey
Turkish Lira ยท TRY
Contractor must provide their IBAN and confirm their bank supports FAST.
Payment Journey
You fund in USD, stablecoin, or BTC โ your contractor in Turkey chooses how they receive it.
Fund your Bitwage Balance
USD via wire/ACH/FedNow, stablecoin (USDC/USDT), or BTC. Fund once โ use for all payments.
Create a payment run
Add your Turkey contractor(s) to a batch or individual payment. Set the amount in USD โ Bitwage handles everything else.
Converts & delivers via FAST
FX rate locks at approval. Bitwage converts USD โ local currency and routes the payment via FAST. Compliance screened automatically.
Funds arrive via FAST
Settlement: < 30 seconds. Fees: 0.3โ0.8%. Contractor can also choose USDC, USDT, or Bitcoin instead โ they set their preference once.
How FAST Works in Turkey
Bitwage converts USD to TRY and submits a FAST instruction through the Central Bank of Turkey's real-time network. Settlement completes in under 30 seconds at any hour.
Compliance & Security
Turkey requires foreign income to be declared with the Turkish Revenue Administration (GฤฐB). Bitwage screens all payments against OFAC and EU sanctions lists.
The TRY has experienced significant depreciation. Bitwage locks the USD/TRY rate at execution time; many Turkish contractors prefer stablecoin payouts to preserve dollar-equivalent value.
FAST in Turkey FAQ
Common questions about FAST payments, settlement, fees, and requirements.
FAST payments to Turkey typically settle in < 30 seconds. Bitwage locks your FX rate lock at execution time so recipients receive exactly the amount shown in the payment preview.
Bitwage charges 0.3โ0.8% for FAST payments to Turkey. There are no hidden per-transfer fees beyond the displayed rate. You can see the full cost breakdown before executing via our {{link:products/contractor-payments}} platform.
Contractor must provide their IBAN and confirm their bank supports FAST. Bitwage validates all payment details before executing. For batch payments to multiple contractors, use {{link:products/masspay}} to upload a CSV with all recipient details at once.
Yes. With {{link:products/masspay}} you can include any number of Turkey-based contractors in a single payment run, mixing FAST with other local rails. All FX conversions are locked at batch payment processing execution time.
Related Resources
Start Sending FAST Payments to Turkey
Settlement in < 30 seconds. Fees from 0.3โ0.8%. OFAC screened on every payment.