Pay with FAST Using Peanut — Coming Soon
Peanut is adding FAST support. Soon you'll send Turkish lira to any bank in Turkey from your digital dollar balance — instantly, 24/7.
Peanut is adding FAST support. Soon you'll be able to send money to any Turkish bank account directly from your Peanut balance — converting digital dollars to Turkish lira and delivering them in seconds, 24/7. FAST is Turkey's national instant payment system, operated by the Central Bank of the Republic of Turkey (TCMB). It connects all major Turkish banks for real-time interbank transfers with no downtime. Once the integration goes live, Peanut will give you instant access to Turkey's banking system without needing a Turkish bank account or TC Kimlik number.
Turkey has one of the largest diaspora communities in Europe — approximately 3 million people in Germany alone, plus significant populations in the Netherlands, France, and the UK. The Germany-to-Turkey corridor is one of Europe's largest remittance flows. Peanut will offer a faster, more competitive alternative for sending money to Turkey, with instant delivery via FAST instead of waiting days for traditional transfers.
What Is FAST?
FAST (Fonlarin Anlik ve Surekli Transferi) is Turkey's national instant payment system, launched in 2021 by the Central Bank of the Republic of Turkey. It enables 24/7 real-time bank-to-bank transfers across all Turkish banks — Ziraat Bankasi, Is Bankasi, Garanti BBVA, Akbank, Yapi Kredi, QNB Finansbank, and all other participating institutions.
FAST supports multiple identifiers for sending money: IBAN, phone number, Turkish ID number, email, and tax number. This flexibility means recipients do not need to share full bank details — a phone number or email is enough. Adoption grew quickly after launch thanks to a central bank mandate for bank participation.
Turkey is also adding QR payment capability to FAST, which will expand it from person-to-person transfers into merchant payments. This QR rollout is ongoing, and merchant acceptance will grow as the feature matures.
Where It Works
FAST connects all major banks in Turkey:
- Ziraat Bankasi — Turkey's largest state bank
- Is Bankasi — the largest private bank
- Garanti BBVA — major private bank with wide branch network
- Akbank — prominent commercial bank
- Yapi Kredi — major retail and commercial bank
- QNB Finansbank — growing international presence
- Other participating banks and fintech institutions — coverage spans the entire Turkish banking system
FAST works nationwide — from Istanbul and Ankara to Izmir, Antalya, Bursa, and beyond. Any bank account in Turkey that participates in the FAST system can receive instant transfers.
How It Will Work
- 1
Open Peanut and select Send
You'll open the Peanut app and choose to send money via FAST to a Turkish bank account.
- 2
Enter the recipient's details
Provide the recipient's IBAN, phone number, or Turkish ID number. FAST supports multiple identifiers.
- 3
Review the transfer
You'll see the TRY amount, the digital dollar equivalent, and the exchange rate. The rate will lock when you confirm.
- 4
Confirm and send
Tap to confirm. The recipient will receive Turkish lira in their bank account within seconds — 24/7, no business-day restrictions.
The exact payment flow will be confirmed closer to launch. The steps above reflect the general FAST experience combined with Peanut's existing payment model.
What You'll Need
When FAST support goes live, you'll need:
- A Peanut account with identity verification. Verify with your passport or national ID card from any country — under 2 minutes for most users. Your documents are handled securely and Peanut never sees or stores them.
- A funded digital dollar balance. Deposit from any exchange or wallet, or via bank transfer (SEPA from Europe, ACH or wire from the US). All deposits are free.
- The recipient's Turkish bank details. IBAN, phone number, or TC Kimlik number.
- No Turkish bank account or TC Kimlik on your end. You won't need a Turkish national identification number or local bank account to send money into Turkey through Peanut.
Specific requirements and transaction limits will be confirmed at launch.
Fees & Exchange Rate
Peanut charges no fees on payments. When FAST support goes live, you'll convert digital dollars to Turkish lira at a competitive market exchange rate with no transaction fee and no hidden charges.
The Turkish lira has experienced significant inflation and depreciation in recent years, making exchange rate timing especially important. Peanut's rate will lock at the moment you confirm each payment — no slippage, no post-transaction adjustments. This gives both senders and recipients certainty on the exact amount being delivered.
Detailed rate comparisons and savings estimates for the Turkey corridor will be published closer to launch. Given the large volume of remittances flowing from Germany, the UK, and the Netherlands to Turkey, Peanut aims to offer a significantly faster and more competitive option than traditional transfer services.
