Credit card

The Financial Stability Committee discussed steps to be taken regarding the wider use of the Turkish payments system TROY, according to a statement released after the committee's meeting. The committee convened on Oct. 27, chaired by Treasury and Finance Minister Nureddin Nebati.

The trend of rising fees that banks collect for various products and services continues. The next increase has been a fact since the beginning of August, mainly referring to the service in the branches. The explanation is that, in addition to inflation, the administrative costs of maintaining a branch network make services offered locally more expensive.

Some 14 percent of Turkish consumers use cash for everyday purchases, while 49 percent say they prefer credit cards, according to a survey by IPSOS.

Around 55 percent of those who chose cards say they don't have enough income to make payments in cash, while 32 percent say cards help them postpone payments for a month.

Payments with credit, prepaid and debit cards increased by 109 percent in July on an annual basis to amount to 316.9 billion Turkish Liras, according to data from the Interbank Card Center (BKM).

Payments with credit cards increased 103 percent to 249 billion liras, while debit cards made up 62.3 billion liras of the total sum, rising 132 percent from a year ago.

Ljubljana – Slovenians are equally likely to pay with cash or card when travelling abroad, a survey conducted by the US credit card company Visa shows.

Last year, due to two moratoriums on loans, but also on interest rates, which are at an all-time minimum, banking sector lost a significant part of its income. On the other hand, many have increased commissions and service costs at the same time, and some have started charging for what they never did.

The number of consumers seeking arrangements for various debts has soared during the pandemic, according to a survey by Wemetrix. Debtors are seeking to settle arrears for the payment of services such as utility bills, as well as to secure favorable payment plans for the acquisition mostly of homeware and domestic appliances.

No two families are alike. Depending on the size of the family, its lifestyle, the country of residence and thousands of other tiny factors, the budgets of two seemingly similar families can be completely different. Thus, there is no universal family budget common for all people.

Taxpayers will need to remember to use their credit and debit cards from the start of the new year, as they will need to make online payments amounting to at least 30 percent of their income over the 366 days of 2020, or face a hefty fine.

Credit and debit card transaction turnover grew almost 15 percent over the third quarter of the year on an annual basis, banishing fears that the growth rate of online transactions might slow to below 10 percent in 2019.

Card transactions added up to 11.4 billion euros in July-September, up 14.6 percent or 1.4 billion euros from the third quarter of 2018.