Cash Transfer Procedure

Published on Mar 29, 20258 min read

Last Update: 27 June 2025

1. PURPOSE AND SCOPE

This Cash Transfer Procedure  (Asset Transfer Procedure) (“Procedure”) has been prepared in accordance with Article 46/1 (b) of the Communiqué III-35/B.1 on the Principles of Establishment and Operation of Crypto Asset Service Providers (“Communiqué on Principles of Operation”). With this Procedure, the procedures and principles of money transfer transactions received from customers and carried out by the Company to customers will be explained.

The Procedure is limited to cash transfer transactions. The Procedure covers segregation and monitoring of customer cash assets, cash deposit process, cash withdrawal procedures and other principles for cash transfer transactions.

2. SEGREGATION AND MONITORING OF CUSTOMER ASSETS FROM PLATFORM ASSETS

Cash and crypto assets belonging to customers are separate from the assets of crypto asset service providers and records are kept in accordance with this provision.  The cash assets of the customers in the custody of the crypto asset service providers under any circumstances whatsoever cannot be seized, pledged, included in the bankruptcy estate and no precautionary measures can be placed on them due to the debts of the crypto asset service providers, even if it is for public receivables.

Customer cash held at banks is monitored separately from OKX TR's own cash assets. Necessary notifications are made to the banks we work with to ensure that customer cash assets are allocated to a separate account and separated from OKX TR cash assets. The right of ownership over customer assets belongs to the customer.

3. CUSTOMER'S CASH DEPOSIT

a. Cash Deposit Process

OKX TR has bank integration that allows customers to make deposits and withdrawals 24/7. Technical integration with banks with which OKX TR has not yet established integration is in progress.

b. Requirement to Complete Customer Acceptance Processes for Cash Deposit Transactions

The transfer of Turkish Lira from banks to OKX TR accounts is mandatory for the completion of customer acceptance processes (“KYC”). OKX TR has established a system that relies on both its own control mechanisms and the verification mechanisms put in place by the customers' registered bank in the KYC steps. Although KYC processes are not completed, the amounts deposited by persons who transfer cash to OKX TR accounts are refunded.

c. Contracted Banks and Considerations in Bank Selection

OKX TR works with the following banks and our customers can deposit cash into their accounts at OKX TR by depositing cash into these bank accounts:

- Türkiye Vakıflar Bankası TAO;

- T.C. Ziraat Bankası AŞ;

- Türkiye İş Bankası AŞ;

- Fibabanka AŞ;

- Şekerbank AŞ.

In the selection of banks that store customer cash, attention is paid to whether the bank has taken security measures, whether the bank is widely used by customers, and compliance with the rule of segregation and monitoring of customer assets.

d. Obligation to Transfer Customer Cash Assets from Bank Account

Customers can only deposit money from bank accounts registered in their own name and withdraw money only to bank accounts registered in their own name. Deposits cannot be made through ATMs or any other channel. In addition, deposits cannot be made through electronic money institutions or payment institutions. Currently, customers can only deposit and withdraw Turkish Lira. Cash deposits in foreign currency may be possible in the future, provided that the deposit in foreign currency is not contrary to the legislation and is permitted by the banks.

OKX TR has integrated bank systems and company systems to ensure that Turkish Lira deposits and withdrawals are carried out continuously and smoothly. For this integration, OKX TR receives services from third party service providers that are widely used in the sector. These third party service providers work with many organisations and banks in this field. OKX TR continuously monitors the balances in the accounts in the above-mentioned banks, thus ensuring that customers can withdraw Turkish Lira from any of the banks listed without any problems. Reconciliations with banks are made daily, weekly and monthly.

e. Matching the Republic of Turkey Identity Number during Deposit

When customers deposit Turkish Lira to their OKX TR accounts, thanks to the technical integrations made, the Turkish Republic Identity Number (“TCKN”) information is extracted from the relevant bank and a comprehensive verification process is carried out by matching it with the TCKN provided and verified by the customers when opening an account at OKX TR. Thus, customers can only deposit funds to their account at OKX TR from a bank account registered in their name. These controls also apply to withdrawals.

f. Rejection and Refund of Non-Matching TCKN Payments

In the event that an OKX TR customer attempts to send TL from another customer to the account of an OKX TR customer registered on the OKX TR platform, OKX TR takes immediate action to protect both the sender and the platform. Any payment that cannot be matched to a registered TCKN will be immediately rejected and returned to the sender. These measures prevent unauthorised deposits and ensure that only verified and legitimate deposits are accepted.

g. Measures in place for Potentially Risky or Fraudulent Activities

In order to protect customers against fraud cases, OKX TR applies a waiting period for the withdrawal of crypto assets purchased by customers identified as potential victims of fraud or involved in risky transactions to other wallets by reporting suspicious transactions, in accordance with the provisions of the Law No. 5549 on the Prevention of Laundering Proceeds of Crime and other relevant legislation or upon the requests of judicial or administrative authorities. This measure prevents unauthorised withdrawal of crypto assets.

These measures collectively ensure that OKX TR provides a secure and reliable platform environment for its customers and protects fiat assets through rigorous verification processes and protective features.

4. CUSTOMER'S CASH WITHDRAWAL

h. Cash Withdrawal Limit

For cash withdrawals, the principles regarding cash deposits are applied by analogy. In some cases, cash withdrawal may be subject to various additional limits, controls and approvals and a lower limit may be imposed.

Cash withdrawal request may be delayed due to the bank. The customer can follow the cash withdrawal movements from the transaction result form or account statement. 

ı. Verified Bank Account Withdrawals

OKX TR allows customers to make withdrawals only to their own bank accounts that are registered in the OKX TR system and match the verified Turkish ID number. In other words, customers cannot withdraw Turkish Lira from their accounts registered on the OKX TR platform to bank accounts of other customers. This verification process ensures that withdrawals are directed only to the bank account of the rightful owner, minimising the risk of fraudulent withdrawals and protecting customers' assets.

5. BANK AND COMPANY COMMISSION FEES

Banks may apply different commission rates in customer cash deposits and withdrawals. The customer is responsible for the payment of these commissions. Company commission rates are published on the company website. OKX TR does not charge an additional commission fee for withdrawals. However, a commission fee may be charged for withdrawals in the future.

6. VALUATION OF CUSTOMER CASH

Clients may request interest accrual on their cash assets above the threshold set by OKX TR. In terms of the principles regarding the interest accrual of customer assets, the framework agreement and interest accrual conditions should be examined.

7. REVIEW OF CUSTOMER COMPLAINTS

Clients should notify the customer support team if cash deposits and withdrawals are not processed within a reasonable time. OKX TR will inform the client of the reason for the delay, where permitted by the legislation. Cash deposits and withdrawals may be delayed or not realised for justified reasons in the following cases

  • Failure to make cash deposits and withdrawals through the channels (bank) specified by the legislation;

  • Cash deposits and withdrawals are made in violation of the relevant legislation, particularly the legislation of the Financial Crimes Investigation Board and the Capital Markets Board;

  • The cash deposit and withdrawal transaction is a suspicious transaction for money laundering or terrorism financing;

  • The owner of the bank account does not match the OKX TR account owner;

  • There is insufficient funds in the account;

  • There is a reasonable suspicion that the customer account has been stolen or there is a complaint in this direction.

8. ENFORCEMENT

The Procedure enters into force on 18 June 2025. The procedure is published on the website. 

9. REGULAR REVIEW AND APPROVAL

This Procedure will be reviewed annually, or more frequently if necessary, by the Document Owner or the Document Author to ensure it remains up-to-date with regulatory changes and business practices. If deemed necessary (e.g., for the purpose of aligning with current industry practices or complying with new legislative requirements), it will be updated accordingly.


The Document Approver's approval is required at least once every year or when major and significant revisions are made, whichever precedes. Minor and limited revisions may be approved by the Document Owner, unless the Document Owner is also the Author.

Revisions are notified to customers.

10. RECORD KEEPING 


A copy of this Procedure will be retained for a minimum of ten (10) years or longer, in accordance with applicable legislation.