Secure Payment System
Buying and selling used vehicles is now faster, easier and safer with our secure payment system.
You can safely make secure payment operations for buying and selling used cars which is done digitally through our İnternet branch, Albaraka Mobile banking or Albaraka Turk secure payment system website or you can head to our nearest branch. İf you’re not a customer at Albaraka Turk Bank, become a one now.
This service has been developed in cooperation with the Turkish Notaries Union and Albaraka Turk and is offered via our internet branch, Albaraka Mobile, albaraka.com.tr website or branches;
- There’s no physical contact with money.
- The ownership of the vehicle and the paid amount made through our secure payment system transfers at the same time.
- Transactions are done digitally, there’s no need to carry the money.
- Transactions can be done whether its weekdays or weekends. Transactions that overlaps with holidays are carried out through notaries on duty.
There’s no need to be an Albaraka Turk customer in order to use the secure payment system.
Is It Mandatory to Use the Same Bank in the Secure Payment System for Vehicle Sales?
In the Albaraka Secure Payment System, the recipient does not need to provide additional confirmation. The recipient initiates the payment process by entering the reference number sent to them via SMS into the Fast Transactions > Secure Payment Transaction menu at their bank.
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 is 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 Money Transfer Limit in the Secure Payment System?
In vehicle purchase and sale transactions conducted through the secure payment system, a single transfer of up to TRY 2,000,000 can be made at one time. If the vehicle price exceeds TRY 2,000,000, the remaining amount can be transferred in installments in accordance with the applicable 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.