With the developments in Turkish banking system at the last 10 years, the general condition has reached the qualification meet all needs and desires of foreigners with links to Turkey. Offered with a variety of services from different nationalities who are citizens of Turkey, or just foreigners living in Turkey, they can work with Turkey’s various private, public and Islamic banks.

There are a lot of advantages offered by banking institutues for foreigners in Turkey . They can be listed as invoice payments, to receive money from abroad, such as pensions, or to appreciate lucrative savings interest rates like most foreigners. Average interest rates on foreign currency deposit the beginning of many deposit accounts 10% live without touching the capital in Turkey.

As Ata Institutional Consultancy, we offer opening bank account services without problem for all customers who work with us for the concept of Turkish citizenship services. However, if you choose to carry out these processes on your own, the information below will guide you.

How to Open a Bank Account in Turkey ?

The documents are defined below while opening a bank account in Turkey :

  • Passport (The bank will get a photocopy for registration.)
  • Turkish Tax Identification Number
  • A document that proofs your residential address in Turkey (This may take the form of a bill such as electricity or water in the last three months.)

Note: Some banks are providing bank accounts for foreign people who live in Turkey permanently.

Hot wo get Turkish Tax Identification Number ?

If you previously purchased a property in Turkey, you already supposed to have a tax identification number. Otherwise, you can get a tax identification number by going to the Tax Office at your location and applying with your passport only.

Securities Offered by Turkish Banks

Some Turkish banks offer securities (hypothecate) to foreigners to provide housing finance. However, when a little research is done, you will find that the amount of tax resulting from this transaction is too high and this is not a smart financial investment option. In this way, you may be buying another new flat with the amount of tax you will pay.

How Safe Are Turkish Banks?

Naturally, the foreigners wonder about the safety conditions of Turkish banks while depositing money to the banks. At this point, the relevant TMSF regulation comes into force. The Savings Deposit Insurance Fund (TMSF) is the government’s official governing body for insurance savings and deposits.

The guarantee provided by the Savings Deposit Insurance Fund (TMSF) is valid up to 150.000 TL for savings on behalf of natural persons in banks. For this reason, some foreigners choose to allocate their money to two or three different bank accounts. For more information, you can reach the SDIF official website. – http://www.tmsf.org.tr/default-en.html

Popular Turkish Banks for Foreigners

Yapı Kredi has an individual banking section on its websites in English for foreigners. Yapi Kredi, Turkey’s fourth largest private bank with 908 branches.

İşbank calls itself “the Turkish bank for foreigners”. There is a separate “foreign banking” section on English websites, and its branches, which provide banking services for foreigners, offer one-to-one communication with English-speaking representatives.

HSBC is one of the most popular banks among foreigners due to its status as an international bank. But that is not connected to the international şubelerbirbir, you can not go to an office in Turkey to query your account in the UK. There is also an English-language website in addition to English-speaking staff at certain branches.

Denizbank is especially popular with foreigners who want to deposit money in an interest saving account, as it offers one of the best rates in the market. It reinforces this popularity thanks to its English-speaking staff in individual branches as well as an English website.

Garanti, another private bank’s overseas banking division, focuses on providing all its services in English, including internet, telephone banking, ATM and English-speaking staff at some branches. Garanti is also a Western Union organization.

Akbank also has overseas banking branches. In addition to the standard services, there are some advantages such as tax consultancy services and a foreign traveler card issued to earn miles while traveling. Akbank is another bank associated with Western Union.

Other options include state-owned Ziraat, Halk and Vakıf banks. Turkey is located a few Islamic banks such as QNB Finansbank and Kuveyt Türk.

10 Comments

  1. Kudalor kpotor Michael 31 May 2020 at 19:08 - Reply

    I want to open a bank account in turkey but am from Africa (Ghana) I need an investment account oversea and so far I have interest in turkey I need a proper way and a trusted method to open the account with a company and so far am getting confuse with tax identification number and stuff can u advice me a little about that please.. Thank u

    • ugur 19 April 2021 at 12:55 - Reply

      Hello,
      Foreigners, who are not residents in Turkey can open a bank account in Turkey for investment purposes under condition that they deposit amount of at least 6000 USD in the account. This amount can not be withdrawn for three months. Residence permit holders are eligible for opening a bank account with no requirement of making a deposit. Bank account can be opened without foreigner’s presence in Turkey under condition that someone within the country would be provided with Power of Attorney for this purpose issued by Turkish Consulate abroad.

      Kind Regards,

      Are you satisfied with the answers we have given to your questions? Ata Institutional Consuntancy would like to know your feedback. Please leave a comment on our page. https://g.page/r/CT9i2JXthUlOEAI/review

  2. yayne 19 November 2020 at 15:50 - Reply

    I want to save money in Turkish
    2 I don’t have residence permit & work permit
    3 I don’t want to keep my cash with me
    4 I want to use my money where eve I go, If your bank is ready to give me VISA card or other available methods to manage my cash ,

    • ugur 21 April 2021 at 13:18 - Reply

      Hello,
      Foreigners, who are not residents in Turkey can open a bank account in Turkey for investment purposes under condition that they deposit amount of at least 6000 USD in the account. This amount can not be withdrawn for three months. Residence permit holders are eligible for opening a bank account with no requirement of making a deposit. Bank account can be opened without foreigner’s presence in Turkey under condition that someone within the country would be provided with Power of Attorney for this purpose issued by Turkish Consulate abroad.

      Kind Regards,

      Are you satisfied with the answers we have given to your questions? Ata Institutional Consuntancy would like to know your feedback. Please leave a comment on our page. https://g.page/r/CT9i2JXthUlOEAI/review

  3. Abida Nasir 2 January 2021 at 22:30 - Reply

    Salaam, my name is abida Nasir and I’m living in united kingdom, Birmingham, I’m trying to open a account, I’m ful time working in Birmingham school, I’m interested to buy a property and apply for resident visa in further for my kid’s under 18, please help me open a account please

    • ugur 20 April 2021 at 16:41 - Reply

      Hello,
      Foreigners, who are not residents in Turkey can open a bank account in Turkey for investment purposes under condition that they deposit amount of at least 6000 USD in the account. This amount can not be withdrawn for three months. Residence permit holders are eligible for opening a bank account with no requirement of making a deposit. Bank account can be opened without foreigner’s presence in Turkey under condition that someone within the country would be provided with Power of Attorney for this purpose issued by Turkish Consulate abroad.

      Kind Regards,

      Are you satisfied with the answers we have given to your questions? Ata Institutional Consuntancy would like to know your feedback. Please leave a comment on our page. https://g.page/r/CT9i2JXthUlOEAI/review

  4. […] a well-known British multinational bank, which is one of the most popular banks among foreigners in Turkey due to its status. For customer convenience, for those who want acquire Turkish […]

  5. Waheed 28 February 2021 at 10:30 - Reply

    Hi,
    I want to invest in a bank in Turkey like in saving fixed deposit. I want to know am i elegible to do it?
    I am a forigner, and to enter turkey i need visa.

    • ugur 20 April 2021 at 17:24 - Reply

      Hello,
      Foreigners, who are not residents in Turkey can open a bank account in Turkey for investment purposes under condition that they deposit amount of at least 6000 USD in the account. This amount can not be withdrawn for three months. Residence permit holders are eligible for opening a bank account with no requirement of making a deposit. Bank account can be opened without foreigner’s presence in Turkey under condition that someone within the country would be provided with Power of Attorney for this purpose issued by Turkish Consulate abroad. Once you open a bank account within Turkey you are also allowed to make investment in fixed deposit.

      Kind Regards,

      Are you satisfied with the answers we have given to your questions? Ata Institutional Consuntancy would like to know your feedback. Please leave a comment on our page. https://g.page/r/CT9i2JXthUlOEAI/review

  6. gamesellru 17 May 2021 at 00:35 - Reply

    It agree, this remarkable message

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