Halkbank, Ziraat Bankası, and VakıfBank warned: Is your name on the list? Go to the branch immediately!
As 2025 approaches, important warnings have been issued by Turkey's public banks. Halkbank, Ziraat Bankası, and VakıfBank made a critical announcement regarding accounts that may become invalid due to expiration. These three major banks compiled lists of deposit accounts with no transactions over the past 10 years and published them on their websites. If your name appears on this list, you need to act by June 15, 2025. Otherwise, the balances in your accounts will be transferred to the Savings Deposit Insurance Fund (TMSF).
In the statement, it was emphasized that transferring dormant accounts to TMSF is a legal obligation. Banks are sharing details of the process to prevent potential grievances for clients. However, it is believed that many people remain unaware of this situation. So, what can you do to secure your accounts and prevent the transfer of funds? Here are the details.
Why Are Accounts Transferred to TMSF?
Forgotten bank accounts usually become inactive due to relocation, the death of the account holder, or simply being forgotten. According to Banking Law No. 5411, accounts with no transactions for 10 years are deemed inactive, and their balances are transferred to TMSF. This process is both a legal requirement and an effort to raise awareness among account holders.
Halkbank, Ziraat Bankası, and VakıfBank send notifications to the addresses of account holders with balances above a certain threshold. However, it is noted that no notifications are sent for accounts with balances under 50 TL, putting such account holders particularly at risk.
How Can You Prevent the Transfer?
If your name is listed, the process is simple. Visit the branch of the bank where your account is held with valid identification and complete the necessary transactions. This action will be enough to stop the transfer to TMSF. However, pay attention to the deadline: those who fail to act by June 15, 2025, will lose their rights to the balance.
Who Is at Risk?
The most affected are those who have not used their bank accounts for many years or have forgotten about their existence. Many people let their accounts expire due to relocation, address changes, or accounts of deceased relatives without checking the balances. Therefore, it is essential to check not only your own accounts but also those of your family members.
Deadline: June 15, 2025
This warning by public banks is especially crucial for clients who do not act in time. A timely action can save your balance and protect your legal rights. You can easily check your name in the lists published on the banks’ websites and learn the status of your accounts.
