CREDIT CARD PAYABLES DEFERED?
Within the scope of Corona virus measures, millions of citizens’ credit and credit card debts are delayed for 3 months. Already 19 banks have announced that they are delaying their credit card debts. Here is the list of banks that made the statement;
1) Ziraat Bank
2) Halkbank
3) Vakıfbank
4) Ziraat Participation Bank
5) Foundation Participation Bank
6) İş Bank
7) Garanti Bank
8) Yapı Kredi Bank
9) Akbank
10) Denizbank
11) QNB Finansbank
12) TEB
13) Real Estate Participation Bank
14) Kuveyt Türk Participation Bank
15) Odeabank
16) Albaraka Türk Participation Bank
17) Turkey Finans Participation Bank
18) Alternative Bench
19) Şekerbank
ZIRAAT BANK SUPPORT DESCRIPTION
Support package for businesses and individual customers from Ziraat Bank:
1) Allowing the said payments to be postponed upon the demands of the companies and individual customers who cannot pay the installments, interest and principal of the period to be paid on 31.03.2020,
2) Existing loans of our customers who have payment problems because their cash flow is disrupted;
Developing appropriate term structuring practices by providing additional period of up to 12 months in sectors with periodic activities such as tourism, up to 6 months without payment period,
3) Provided that companies paying their salaries through our Bank do not reduce their current employment by the end of February 2020;
Providing additional limit as much as the salary expense for the next 3 months,
4) To be used by our credit customers for the payment of their checks on the Bank; increasing the general credit limits and allocating an additional cash credit limit,
5) To meet the working capital needs; As of today, we have implemented the measures to increase the corporate card limits of our customers with our bank’s corporate credit card and DBS limit.
It is announced to the public with respect. ”
VAKIFBANK SUPPORT DESCRIPTION
The supports included in the package containing many items, from postponing the credit terms to the restructuring of the existing loans, are as follows:
1- Providing flexibility for all credit installments and payments of companies up to 30 June 2020 including the end of March 31st period interest rates,
2- To provide long-term loans up to ‘3 months’ salary’ to businesses in order to meet their loan demands for employment protection purposes,
3- The restructuring of the existing loans of the enterprises in accordance with their cash flows and according to their sectoral status, periodically without payment,
4- Structuring loans specific to the sectors most affected, including tourism and urban public transportation, with a grace period of up to 12 months,
5- In order to facilitate the public payment obligations of companies such as tax and SGK, increasing their cash management limits and giving installments up to 12 months without payment for 3 months,
6- Increasing cost-free supply capacities by increasing the limit in Business Cards belonging to companies,
7- Increasing the VBanko Check product limit and prevalence, reducing the need for cash and providing cost-free financing through the introduction of banking guarantee facilities,
8- The credit demands of our citizens who need personal loans should not be exposed to epidemic risk by providing them through VakıfBank Mobile, Internet Banking and Sky Limits,
9- Payment of personal loan customers by installments and credit card payments up to 3 months.
VakıfBank Mobile, VakıfBank branches will continue to operate between 09.00-17.00 in accordance with the measures announced by the Ministry of Health for transactions that cannot be done through Internet Banking and ATMs.
HALKBANK SUPPORT DESCRIPTION
According to the statement made by the bank:
The companies and individual customers who could not pay the installments, interest and principal until 31 March 2020 will be able to postpone their payments for this period.
In order to support the negativities experienced by tradesmen and artisans in this period, the loans they have used, if requested; Principal and interest payments, whose maturities will come in April, May and June 2020, will be postponed for 3 months and without interest.
The Bank, which has a payment problem because of the deteriorated cash flow, will be offered the opportunity to configure its loans with a suitable term with a grace period of up to 6 months. The grace period can be extended up to 12 months in sectors with periodic activities such as tourism.
Companies that pay their staff salaries through Halkbank will be given an additional credit limit as much as their staff salary expense over the next 3 months, provided that they do not reduce their employment compared to the end of February.
With the aim of paying checks that were made by Halkbank’s credit customers on Halkbank, the general credit limits will be increased and additional cash credit limits will be allocated to the companies.
In order to meet the working capital needs; Corporate card limits of companies with Halkbank corporate credit card and Direct Debit System limit will be increased.
DESCRIPTION OF THE BUSINESS BANK SUPPORT TURKEY
Turkey Business Bank, has commissioned the economic stimulus package because the coronavirus outbreak.
According to the statement made by the banks Isbank spread in Turkey and announced its support to the economy by the World Health Organization that commissioned due to be declared as a pandemic outbreak of coronavirus package.
If customers need until 30 April, principal / interest / installment payments will be allowed to be postponed until 30 June without any additional condition.
All the necessary support, including the grace period, will be provided on a case-by-case basis, regardless of the sector, especially the tourism, logistics, shopping malls and retail sectors, whose financial structure is negatively affected due to the epidemic.
SMEs and micro enterprises will be supported with the existing limits in order to fulfill their commercial obligations that they entered before the epidemic, and if necessary, maximum efforts will be made to support the base.
Regardless of whether the salary is agreed or not, the Bank will contribute to the payment of salary payments for the next 3 months, if necessary, with additional limit allocation, provided that they do not reduce employment.
No bank customers will be charged until April 30 (including card-to-card transfer) from EFT / wire transfer transactions through digital channels.
Credit card limits will be increased if customers need it at the time of shopping, especially health and food. POS and Payment Recording Device (ÖKC) fees will be delayed for 3 months.
Retail customers will be offered the opportunity to postpone consumer loans, credit cards and additional account payments for 3 months.
Business Bank, these measures poem with but not limited to, and including facilities to be provided to citizens who lost their first job, “Turkey’s Bank” as any kind of constructive and solution-oriented approach to overcome the difficulties into which the country continued as far additional measures armor.
ZİRAAT PARTICIPATION BANK DELAYED INDIVIDUAL AND COMMERCIAL PAYMENTS
Ziraat Participation Bank announced new support steps taken by the new type of coronavirus (Kovid-19) epidemic with the aim of minimizing the potential damage to economic life.
In line with the “Economic Stability Shield” move, the statement stated that it was decided to apply some support against the deterioration that citizens and the business world may experience in this period of cash flows, the following:
“In this context, if the commercial and individual customers demand, installments, dividends and principal payments to be paid until 31 March will be postponed.
Appropriate term structuring practices will be developed by providing an additional period of up to 6 months for the current financing of our customers, whose cash flow is disrupted or foreseen, and who may experience payment problems related to this, and in sectors with periodic activity, up to 12 months.
Provided that the companies that pay their salaries through our bank maintain their employment at the end of February, an additional limit of 3 months’ personnel salary expense will be given, if necessary.
Our bank, which has a financing limit from our bank, will meet the working capital and the additional limit requirements for the Direct Debit System that may arise due to the current conditions. ”
