In short:
- In Turkey, collecting a company's balances and transactions from several banks with the company's consent is a regulated payment service called the account information service (hesap bilgisi hizmeti), defined in Law No. 6493 and supervised by the Central Bank of the Republic of Türkiye (CBRT).
- Corporate options fall into four groups: banks' own cash management channels, bank modules of accounting and ERP programs, independent account information providers, and global aggregators with limited Turkish coverage.
- Turkish bank data can be synced to global ERPs such as Microsoft Dynamics or Oracle NetSuite through an API, and a multinational group can see all its Turkish subsidiaries' balances on one screen.
How account information services work in Turkey
Turkey's payment services framework is set by Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions. Article 12 of the law lists the account information service: with the customer's consent, balance and transaction information from one or more payment accounts is presented in one place. Since 2020, licensing and supervision of payment and electronic money institutions has been carried out by the CBRT.
Banks and authorised institutions exchange data through GEÇİT, the common open banking gateway operated by the Interbank Card Center (BKM), using standard APIs. The customer authenticates in the bank's own flow; the bank password is not shared with the provider. Processing of personal data is also subject to Turkey's Personal Data Protection Law No. 6698 (KVKK).
Which providers serve corporate accounts in Turkey?
| Option | What it covers | Limits for multi-bank companies |
|---|---|---|
| Banks' corporate cash management channels | Accounts at that bank, sometimes file exports | One bank per channel; separate logins and formats |
| Bank modules of accounting and ERP programs | Statement import into that program | Coverage and freshness depend on the program and the bank |
| Independent account information providers | Balances and transactions from many Turkish banks on one screen, often with ERP transfer | Check legal status, bank coverage and POS detail |
| Global aggregators | Many countries through one API | Turkish bank coverage is often limited |
Before choosing, ask each provider: Which Turkish banks are covered, including state-owned and participation banks? Are POS (card acquiring) transactions included? Is data updated during the day? How is data transferred to your ERP? What is the provider's legal status with the CBRT? Is the bank password ever requested?
Syncing Turkish bank statements with Microsoft Dynamics or Oracle NetSuite
Turkish banks publish statements in different formats, and many companies still rely on end-of-day MT940 files. For a global ERP there are three practical routes:
- API (recommended for multi-bank groups): A provider collects balances and transactions from all Turkish banks and delivers them in one format through an API. Your integration team or ERP partner maps each Turkish account to the ERP bank account and posts transactions on a schedule.
- Statement files: MT940 or Excel files are downloaded from each bank and imported. This works for a few accounts but adds manual work and is end-of-day only.
- Spreadsheet import: For a small number of accounts, transactions from all banks can be exported to a single Excel file and imported.
Matching rules (sender IBAN, tax number, reference in the description, amount) should be agreed before go-live so that incoming payments post to the right customer accounts.
One dashboard for a multinational's Turkish subsidiaries
Group treasury teams usually need three things from Turkey: the daily cash position per entity and bank, foreign-currency balances in their own currency and in a common currency, and transaction detail for reconciliation. A multi-bank platform gives each Turkish entity's accounts in one list, filtered by company, bank and currency, so the group does not depend on local teams sending spreadsheets.
How Finstant does this
- Coverage: 32 banks in Turkey; more than 12,000 banks and payment institutions abroad. Foreign-currency accounts and balances are shown.
- Data: balances, account transactions and POS transactions, including each POS transaction's commission, blocked amount information and net amount. Transactions can be filtered by company, account and date and exported to Excel.
- Companies and users: unlimited companies and users; access can be restricted per user to specific companies and accounts. The number of banks, companies and users does not change the price.
- ERP transfer: ready-made transfer to Logo programs; other programs, including global ERPs, connect through the Finstant API (offered with at least 50 accounts).
- Access: web, iOS and Android apps and Apple Watch; interface in Turkish, English, German, French and Italian.
- Security: your bank password is not given to or stored by Finstant; each account is connected through the bank's own authorisation flow over an encrypted connection.
- Legal status: Finstant is provided by Finstant Ödeme Kuruluşu A.Ş. Its application for a payment institution operating licence under Law No. 6493 is pending with the Central Bank of the Republic of Türkiye. Finstant's service is in the account information field: viewing balances, account and POS transactions and transferring them to accounting programs.