The Guaranteed Fund Transfer -GFT

What are the features of GFT?

GFT is an irrevocable payment commitment of Vakıf Katılım.
With GFT, the businesses can make their deferred payments in digital channels under the guarantee of Vakıf Katılım.
GFT turns into a digital payment instrument where the sellers can use their deferred receivables collected as GFT to purchase commercial goods and services.
Deferred payments are made with low cost and under the guarantee of Vakıf Katılım.
he maturity of the GFT receivable of the seller is fixed and not changed.
The seller which holds the GFT amount in his/her account can transfer, in whole or in part, the GFT receivable to other customers who have a GFT account using digital channels.
Deferred commercial payments can be made under the guarantee of Vakıf Katılım by transferring, in whole or in part, the GFT financing or the transferred GFT amount between our customers who have a GFT account with the same maturity.
As an alternative to traditional deferred payment instruments, the GFT reduces the operational risks and costs thanks to use of digital channels.
The transfer and circulation of GFT is as easy, fast and simultaneous as remittance and EFT.
Thanks to the guarantee provided by Vakıf Katılım, it eliminates the risk of non-payment of the deferred payments.
Guaranteed Fund Transfer (GFT) is the first in sector and registered under the name of Vakıf Katılım.
There is no restriction or limitation in the transfer of GFT amounts; they can be transferred between Vakıf Katılım’s customers in any amount and for several times.
The purchase of goods and services by Vakıf Katılım’s customers using the GFT builds up trust in trade due to guarantee provided by Vakıf Katılım.

GFT in 8 Steps

The GFT account is an account where GFT balances can be held and transferred. Our customers who wish to make a GFT transaction must have a GFT account.

Our commercial customers can open a GFT account from our Branches or through our Internet and Mobile Branch. You can follow “Financing-Guaranteed Fund Transfer- My Guaranteed Fund Transfers” menu on Internet and Mobile Branch to open a GFT account. Non-customer businesses can open a GFT account by arriving at the nearest branch.

The GFT transfer enables our customers to make their payments using undue GFTs held in their accounts without waiting for the maturity. The businesses which hold undue GFTs in their accounts will be able to purchase goods and services or make their payments by transferring, in whole or in part, their GFTs to another GFT account.

The businesses which have a balance in their GFT accounts can transfer, in whole or in part, their available balance through Internet and Mobile Branch or from the nearest branch. You can follow “Financing-Guaranteed Fund Transfer-Make a Guaranteed Fund Transfer” steps to transfer GFT amount through Internet and Mobile Branch.

It is a non-cash financing under the guarantee of Vakıf Katılım for the deferred payments to be made by the buyer in return for the goods and services purchased from the seller.

Our customers who wish to make a GFT transaction must have a GFT account or a financing limit at our Bank. Our customers can benefit from GFT with the details of seller, financing amount and maturity.

On maturity date, the relevant amount is withdrawn from the buyer’s account and automatically transferred to the seller’s account by the system. The GFT balance in GFT accounts is closed and transferred to the relevant current account with “Paid at Maturity” status. If the GFT amount was transferred by the seller to another seller, the payment is made to the account of such transferee seller. In the event of insufficient balance in buyer’s account, the payment is made to the seller by Vakıf Katılım and the buyer becomes indebted to Vakıf Katılım.

Cash + Funded GFT, which is formed by combination of the features of GFT and Funded GFT products, is paid through any of 3 different methods below according to the account balance status of the customer on the maturity date.

In the event of sufficient available balance in the account of the buyer customer, it is paid from the account,

In the event of partial available balance in the account, the relevant amount is paid from the account and remaining amount is paid through financing over the agreed number of installments and profit rate,

In the event of no available balance in the account, it is paid directly through financing.

It is a system which enables our customers to carry out GFT use and GFT transfer transactions without going to branch through our internet branch.

All our customers, who have GFT account and Digital GFT limit, can use GFT. For this transaction, our customers need to make Digital GFT Definition from our branches for once only.