Important: The following document content only applies to the Bitfinex Turkiye (Bitfinex TR) platform, the standalone Turkish language website dedicated to Bitfinex users in Turkiye.
What is Vakifbank
VakifBank is a Turkish banking services provider. Bitfinex TR has integrated the VakifBank to offer automated Turkish Lira (TRY) wire deposits and withdrawal options for Turkish users.
With this integration, Bitfinex TR users will be able to enjoy convenient and low cost Turkish Lira transactions:
Deposits:
- No fees, regardless of deposit channel;
- No minimum deposit amount.
Important: There may be possible delays as the deposit process is currently in beta mode.
Withdrawals:
- No fees for withdrawals up to 2 million TRY;
- 0.1% fee for withdrawals exceeding 2 million TRY;
- Minimum withdrawal: 10 TRY.
How to make a Wire Deposit via Vakifbank on Bitfinex TR
1. Firstly, log in to your Bitfinex TR account and ensure that your account is verified to at least Basic Plus verification level.
2. Navigate to the Wallet page, select Deposits and Bank transfer. Then choose Turkish Lira.
3. Enter the desired deposit amount.
Note: There are no minimum deposit limits.
4. VakifBank Faster Payments will be chosen and you can confirm by clicking on Continue.
5. Next, you will need to tick the box confirming that the TCKN number that appears matches with your Turkish National Identity Number.
6. You will receive the wire recipient information (IBAN) to which you will need to wire your funds in order to complete the deposit.
7. Upon receiving your deposit transaction, the Turkish Lira will be credited to your Bitfinex TR account.
Important: There may be possible delays as the deposit process is currently in beta mode.
8. You can monitor the status on the Recent deposits section on the Deposits page.
How to make a Wire Withdrawal via VakifBank on Bitfinex TR
1. To begin, log in to your Bitfinex TR account and ensure that your account is verified to at least Basic Plus verification level.
2. Navigate to the Wallet page, select Withdrawls and Bank transfer. Then choose Turkish Lira.
3. Following this, VakifBank Faster Payments will allow you to withdraw at no fee charges.
Important: For withdrawals of more than 2 million TRY, a fee of 0.1% the amount of your withdrawal is charged.
Note: The first time you use the VakifBank Faster Payment withdrawal service, you will need to agree to the Terms of Service before you can proceed to finalise the withdrawal.
4. Next, you will be guided to fill in information about your beneficiary bank. This will be where your requested withdrawal funds will be wired.
5. You will see a review of information you have filled including the withdrawal amount, bank name, beneficiary and IBAN of the account where you requested the withdrawal funds to be wired.
6. Confirm your withdrawal via Google Authenticator 2FA and the email link confirmation sent to your Bitfinex TR linked email address if you wish to proceed with the withdrawal.
7. Your withdrawal will begin processing immediately and you can monitor the status on the Recent withdrawals section on the Withdrawals page.
For more details on Bitfinex Turkiye, please see our guide: Understanding Bitfinex Turkiye.
If you have any questions, please feel free to contact Bitfinex Support.