Secure Payment System
You can securely complete your second-hand vehicle purchase and sale transactions at Albaraka Türk via Internet Branch, Albaraka Mobile, or Albaraka Türk website digitally, or you can apply to your nearest branch.
If you are not an Albaraka Türk customer yet, you can become one right away.
What is the Secure Payment System?
It is a system that enables safer payment and transfer transactions between parties in the used vehicle buying and selling process.
This system was launched in Turkey in cooperation with the Ministry of Trade and the Turkish Notaries Union, making sales transactions more transparent and reliable.
How to Use the Secure Payment System?
Is it mandatory for the buyer and seller to use the same bank in the Secure Payment System for vehicle sales?
In Albaraka’s Secure Payment System, the buyer is not required to provide any additional approval.The buyer can easily initiate the payment by accessing FAST Transactions > Secure Payment Transaction through their own bank’s system and entering the reference number sent to them via SMS. Once the reference number is entered, the payment process is completed securely.
This process automatically proceeds to the notary stage. Alternatively, the payment amount can also be sent via wire transfer/EFT. In this case, the reference number received via SMS must be entered exactly as it appears in the description field, and the money transfer must be made to the IBAN number TR34 0020 3000 0090 0203 0027 08.
The parties must apply to the notary for payment registration.
Is There a Transfer Limit for Secure Payments?
When buying or selling a vehicle, a single transfer of up to 2 million Turkish lira can be made using the secure payment system. If the vehicle price exceeds 2 million Turkish lira, the remaining amount can be transferred in installments according to the limits.
Frequently Asked Questions
Who can use the Secure Payment System?
Users who are not our customers can use the secure payment system as well as Albaraka Türk customers.
Which IBAN should money be transferred to in the Secure Payment system?
Account Name: Albaraka Türk Katılım Bankası A.Ş
IBAN: TR340020300000900203002708
Through which channels can I make a Secure Payment transaction?
You can do this via our Corporate Website, Albaraka Türk Branches and Internet Branch.
What types of vehicles can be used with the Secure Payment System?
This system is valid for used vehicles that can be registered by notaries.
Are expenses / commissions paid for transactions?
An amount of TRY 146.31 as the Notaries Union Contribution Fee and TRY 97.53 as our Bank’s service fee, totaling TRY 243.84, will be collected as a transaction fee by being deducted from the sales amount.
How long should the registration process take?
After the seller initiates the transaction, it is necessary to register at the notary public until the end of the next business day. If the registration process has not been completed, the application will be automatically canceled by the system and the amount will be refunded to the buyer's account.
When is the vehicle fee transferred to the seller's account?
The vehicle price is transferred to the seller account simultaneously with the completion of the registration at the notary.
How can the process be monitored?
All information regarding the transaction can be monitored through Albaraka Internet Branch and our Corporate Web Site. In addition, at each step of the process, the parties are informed via SMS.
Is it possible to cancel the transaction?
Until registration at the notary, it can be canceled by the “seller.”
When will the vehicle cost be refunded to the buyer's account in cases where registration is not made?
After the seller initiates the transaction, it is necessary to register at the notary public until the end of the next business day. If the registration process has not been completed, the application will be automatically canceled by the system and the amount will be refunded to the buyer's account at the same time.
Can I request that the payment for the vehicle I will sell be made to a different person's account?
Buyer and seller can only make transactions on their own behalf and through their own accounts.
I created the application, but I filled the wrong information’s can it be corrected?
It is not possible to edit the information after the application is made. For this, the current application must be canceled and a new transaction must be made.
What is a Reference Number?
The reference number is a 23-digit number consisting of 4-digit bank/institution code - 3-digit secure payment transaction type code - 16-digit reference number issued by the competent authority.