Last Updated: 27 June 2025
1. Purpose and Scope
This Cash Transfer Procedure (also referred to as Asset Transfer Procedure) outlines the protocols for fiat currency transactions between customers and OKX TR, in compliance with Article 46/1 (b) of the Communiqué III-35/B.1 for Crypto Asset Service Providers.
Key Focus Areas:
- Segregation and monitoring of customer cash assets.
- Deposit and withdrawal processes.
- Compliance with anti-fraud and regulatory standards.
2. Segregation of Customer Assets
Customer cash and crypto assets are strictly separated from OKX TR’s platform assets.
Critical Safeguards:
- Customer funds cannot be seized, pledged, or included in bankruptcy proceedings.
- Banks holding customer cash must allocate funds to dedicated accounts, monitored separately from OKX TR’s operational accounts.
- Ownership rights remain with the customer at all times.
3. Cash Deposit Process
a. How to Deposit Funds
- Deposits are available 24/7 via integrated banking partners.
- Technical integrations with additional banks are ongoing.
b. KYC Requirements
- Mandatory: Complete Know Your Customer (KYC) verification before depositing.
- Unverified deposits are automatically refunded.
c. Partner Banks
OKX TR collaborates with these trusted institutions:
- Türkiye Vakıflar Bankası TAO
- T.C. Ziraat Bankası AŞ
- Türkiye İş Bankası AŞ
- Fibabanka AŞ
- Şekerbank AŞ
Selection Criteria: Security measures, customer accessibility, and compliance with asset segregation rules.
d. Deposit Rules
- Funds must originate from an account registered in the customer’s name.
- Not permitted: ATM deposits, third-party transfers, or transactions via e-money/payment institutions.
- Foreign currency deposits may be introduced later, pending regulatory approval.
👉 Explore seamless deposit options
e. Identity Verification (TCKN Matching)
- Deposits are validated by matching the sender’s Turkish ID number (TCKN) with OKX TR’s records.
f. Fraud Prevention
- Non-matching TCKN transactions are rejected instantly.
- Suspicious deposits trigger alerts and refunds to the sender.
4. Cash Withdrawal Process
a. Withdrawal Limits
- Follows the same principles as deposits.
- Additional limits or delays may apply based on risk assessments.
b. Verified Bank Accounts Only
- Withdrawals are restricted to the customer’s pre-verified bank account.
- Protects against fraudulent transfers.
5. Fees and Commissions
- Bank fees: Vary by institution; charged to the customer.
- OKX TR fees: Published on the website; currently no fee for withdrawals (subject to change).
6. Interest on Customer Cash
Customers may request interest accrual for cash holdings above OKX TR’s threshold, subject to framework agreements.
7. Handling Complaints
Common reasons for delays/rejections:
- Non-compliant deposit/withdrawal channels.
- Suspicion of money laundering or terrorism financing.
- Account ownership mismatch or insufficient funds.
Resolution: Contact OKX TR support for investigation.
8. Enforcement and Review
- Effective Date: 18 June 2025.
- Annual Review: Updated to reflect regulatory changes.
- Record Retention: Stored for 10+ years per legal requirements.
FAQs
Q1: Can I deposit cash via ATM?
A: No. Only bank transfers from registered accounts are accepted.
Q2: What happens if my TCKN doesn’t match during deposit?
A: The transaction is rejected, and funds are returned to the sender.
Q3: Are foreign currency deposits allowed?
A: Not currently. Future options depend on regulatory approvals.
👉 Learn more about secure transactions
Final Notes: