Frequently Asked Questions

  1. 1. For those who don’t know, what is Takasbank?
    Takasbank is a central clearing and settlement institution authorized to finalize the cash and securities clearing and settlement transactions with regard to stocks, debt instruments, foreign securities, derivatives and precious metals transactions at Borsa Istanbul markets. Takasbank is also an investment bank providing investment banking services within the scope of Banking Law and regulations.
  2. 2. What is the TapuTakas application?
    TapuTakas is an application that allows for simultaneous exchange of real estate and cash, in order to prevent problems encountered by the buyers and the sellers during exchange of ownership rights and sale amount.
  3. 3. What advantages does TapuTakas offer to the real estate sellers?
    • Protects you from the risk of receiving counterfeit money or theft of money.
    • You can instantly inquire the sale amount being sent to Takasbank by the buyer and Takasbank blocking the amount in a special account. You can safely sign the title deed at the Land Registry Office once you see that the money has been blocked.
    • A short time after the completion of procedures at the land registry, your money is transferred via EFT to the account you specified during registration.
    • Since the real estate sale amount is blocked and will automatically be transferred to your account following signature, any trust issues with the buyer will be eliminated
    • You can avoid dealing with blocked checks or notary fees and thus execute your sale at a lower cost (70 TL).
    • Simple and user friendly screens allow you to complete your processes easily.
    • You will be fully informed about the whole process by receiving notifications through SMS and e-mail at every stage of the transaction.
    • You can easily track each stage of every process via “Status Check” at the www.taputakas.com.tr website.
  4. 4. What advantages does TapuTakas offer to real estate buyers?
    • Protects you from the risks of stolen or lost money during the cash transfer.
    • Since the sale amount won’t be transferred to the seller account before finalization of the processes at land registry, there is no risk of the seller not showing up or refusing to complete the process at the land registry.
    • Real estate sale amount being blocked and transferred to the seller’s account after the sale being realized eliminates any trust issues you might have with the seller.
    • You can easily complete your processes via simple and user friendly screens. You will receive notifications via SMS and e-mail at every stage of the process. Thus, you will be fully informed about the whole procedure.
    • You can avoid dealing with blocked checks or notary fees and execute your sale at a lower cost (70 TL).
    • If the sale is cancelled, the money you sent to Takasbank will be returned to the account you specified during registration.
    • You can easily track each stage of every process via “Status Check” at the www.taputakas.com.tr website.
  5. 5. Which stage of the buy-sell process does TapuTakas application come into play?
    You can use TapuTakas application after the buyer and the seller finalized the land registry applications and obtained the receipt number sent by the Directorate of Land Registry to pay the required fee.
  6. 6. How is this application used?
    You can start using the application by clicking the “Registration” button on the www.taputakas.com.tr website.
  7. 7. How are the parties informed about the stages of the transfer processes?
    Parties are notified via SMS at every stage of the processes. If you specify your e-mail during registration, notifications will be sent via e-mail. All notification messages sent by Takasbank (SMS and e-mail) are sent with the “Tracking Verification Code”, and messages which do not include the “Tracking Verification Code” or are incorrect should be disregarded.
  8. 8. How does the process work if the sale process is cancelled?
    If the amounts entered into TapuTakas system by the buyer and the seller had not matched (matching based on the amount entered into the system by the buyer and the seller), then the process can be waived by cancelling registration from the system even if the money had been transferred by either party. Registrations cannot be cancelled in TapuTakas system once amount-based matching is executed and money is received from either party. After this stage, as long as the process is not conducted at the land registry, and if the land registry fee is not paid within three business days, then the transferred sale amount is returned to the buyer IBAN account specified during registration into the system on the next business day without any notification. If the fee is paid, then it will be returned at the moment of the fee cancellation at the land registry and if fee cancellation is not affected at the land registry, then it will be returned to the buyer IBAN account specified during registration into the system on the 30th calendar day following the payment of the fee.
  9. 9. Which platforms is the application operable?
    The application is operable on the web as well as IOS and Android platforms.
  10. 10. How much does it cost to use TapuTakas application?
    The Buyers and the sellers are charged 70 TL regardless of sale price.
  11. 11. Where can I find detailed information and news about TapuTakas application?
    Detailed information is available on the www.taputakas.com.tr website.
  12. 12. How long does it take for my account to be credited after finalizing the process at land registry?
    The sale amount is transferred to the seller account within minutes subsequent to the finalization of registry process by the land registry. However, if the process is finalized at the land registry after 17:15, then the sale amount is transferred to the seller account on the next business day.
  13. 13. How can I, as the seller, make sure that the money is blocked at Takasbank?
    Although notifications are made by SMS and, if specified during registration, e-mail at every stage of each process, you can also make sure that the sale amount is blocked by using the “Status Check” button on the www.taputakas.com.tr website.
  14. 14. How can I know at which stage is the process ?
    You can find out the stage of the process is by using the “Status Check” button on the www.taputakas.com.tr website
  15. 15. Can I waive the process after transferring money?
    Even if money was transferred by either party, the process can be waived by cancelling registration from the system if the amounts entered into the TapuTakas system by the buyer and the seller had not matched. Registrations cannot be cancelled in the TapuTakas system if an amount-based matching is executed and money is received from either party. After this stage, as long as the process is not executed in the land registry and if the land registry fee is not paid within three business days, then the transferred sale amount is returned to the buyer IBAN account specified during registration into the system without any notification on the next business day.
  16. 16. How much will I have to pay?
    The Buyers and the sellers are charged 70 TL regardless of the sale amount.
  17. 17. If the process isn’t completed, can I take back the fee I paid?
    The fee is not returned even if the process is not completed.
  18. 18. What is the E-Payment number?
    E-Payment number is the receipt number sent by the Land Registry to pay the land registry fee prior to sale.
  19. 19. Can I transfer the fee or sale amount to Takasbank from any bank?
    Transfers can be made from all banks. However; the IBAN number of the bank you want to send the fee or sale amount should be entered into the TapuTakas system.
  20. 20. How can I confirm the accuracy of the notifications made by Takasbank?
    All notification messages sent by Takasbank (SMS and e-mail) are sent with the “Tracking Verification Code”, and messages which do not have the “Tracking Verification Code” or are incorrect should be disregarded.
  21. 21. Can I cancel my registration?
    The buyer and the seller can cancel their registration even if money has been transferred as long as matching is not affected (matching of the amount entered into the system by the buyers and the sellers). If a buyer sending the sale amount executes a cancellation, then the sale amount they sent to Takasbank is returned to them automatically via EFT. If matching has been affected (matching of the amounts entered into the system by the buyers and the sellers) and money has been transferred, then cancellations cannot be executed.
  22. 22. Can I amend my registration?
    The buyer and the seller can execute amendmends as long as matching is not affected (matching of the amounts entered into the system by the buyers and the sellers). The buyer and the seller cannot execute amendmend if money has been transferred by either party regardless of matching (matching of the amounts entered into the system by the buyers and the sellers).
  23. 23. Can the system be operational in case of multiple sellers/buyers?
    Yes, it is operational. All buyers and sellers should register into the system separately, and the sale amount they enter into the system should only be amount belonging to themselves.
  24. 24. Do I have to pay an EFT commission when my account is credited?
    No. Takasbank is not charging any additional fees except 70 TL Takasbank fee.
  25. 25. How do I log into the TapuTakas system?
    You can login by clicking the “Registration” button on the www.taputakas.com.tr website
  26. 26. How is the sale amount transferred to accounts in joint sales?
    Sale amount is not transferred to joint accounts and is only sent to the personal account of each seller.
  27. 27. Does the sale amount have to be the same as the sale amount in land registry?
    There are no checks to determine differences between the actual sale amount and the sale amount presented to the land registry. The preferred sale amount can be executed by using the TapuTakas system.
  28. 28. Are the accounts credited at the same day as the title deed transfer?
    The sale amount is transferred to the seller account on the day of the execution of the land registry. However, if the process is executed at the land registry after 17:15, the sale amount is transferred to the seller account on the next business day.
  29. 29. In transactions via proxy , is the sale amount transferred to the account of the proxy owner?
    Even if the process is executed via a proxy at land registry, it is mandatory to determine an account for the seller into the TapuTakas system and as such, the sale amount is only sent to the seller’s account.