Secure Vehicle Purchase and Sale System

How Does the Secure Payment System Work?

The Seller, who is a Vakıf Katılım customer, initiates a vehicle sale transaction from the relevant area in Vakıf Katılım Mobile Branch or Internet Branch.
Transaction information is sent via SMS to the Seller and Buyer mobile phone numbers regarding the initiated vehicle sale.
The buyer starts the vehicle purchase process by filling out the form with the Reference Number and Identity Number information sent via SMS.
The buyer transfers the amount determined as the sale price to Vakıf Katılım Secure Payment account number, with the reference number explanation. (For example, if the Secure Vehicle Purchase-Sale reference number is 12345678, 12345678 should be written in the explanation section during the transfer.)
Vehicle sale price is blocked in Vakıf Katılım Secure Payment Account on behalf of the Buyer until the vehicle is registered.
The Buyer and the Seller go to the notary and perform the vehicle transfer process.
After the Seller and the Buyer complete the registration procedures at the Notary, the amount pending in Vakıf Katılım Secure Payment Account is unblocked and transferred to the Seller's account.

A service fee of 66,26 TL is charged for 2023 from the amount to be transferred to the seller after the vehicle transfer process is completed with Vakıf Katılım Secure Vehicle Purchase and Sale System. 10 TL of this service fee is collected by the Notaries Union of Turkey as system participation fee.

The system can be used by people who want to buy and sell used vehicles. Transactions can be initiated digitally, not only individually, but also as a commercial user. Secure Vehicle Purchase and Sale System is not used in new vehicle registration processes.

In order to use the system, the Seller must be a Vakıf Katılım customer, the Buyer does not have to be a Vakıf Katılım customer.

The Seller and the Buyer will be able to make the cancellation process from the system before the registration from the Notary. The registration process must be carried out at the Notary until the end of the working hours of the business day following the day of the application. If the registration process is not completed, the transaction will be canceled automatically and the amount pending in Vakıf Katılım Secure Payment Account will be returned to the Buyer's account.

In case of cancellation, the sale amount is returned instantly if it is sent by remittance, and during the hours when the CBRT system is open if it is sent by EFT. If the EFT deadline has passed as of the moment of cancellation, the refund will be processed within the next business day and the Buyer/Seller will be informed via SMS. In case the cancellation is made after the end of the business day, the sale amount will be returned to the account that the Buyer has entered into the system and to which the purchase price has been sent, until 10:00 on the next business day at the latest. In refund transactions, it is determined as the end of the working hours until 17.00 on full days and until 12:00 on half days.

The Buyer and the Seller may cancel their transactions before the notary public receipt of the Vehicle Sales Contract is issued and the vehicle is registered in the name of the Buyer. The right of withdrawal cannot be exercised after the registration of the vehicle before the notary public.

The accounts of the Buyer and the Seller must be TL drawing accounts, not blocked and not joint accounts. No transactions can be made on accounts that are not of this nature.

With the monitoring status prepared in the relevant fields in the Internet Branch and Mobile Branch for the Seller and the Buyer, the stage of the transactions can be followed.