?How to open a bank account for foreigners in Turkey

آOr do you need a bank account in Turkey but you are not a citizen of the Republic of Turkey? You can still open a bank account within the country's borders as a foreign citizen. If you travel to Turkey often, are a student in Turkey, or plan to live and work in Turkey, it's time to open a bank account.

In the past, opening a bank account as a foreigner in Turkey was somewhat complicated. After the latest regulations, this confusion has disappeared and foreigners who intend to open a bank account in the country can easily open an account. Opening a bank account in Turkey as a foreigner is possible with the necessary preparation, proper documents and a little patience.
So, how to open a bank account for foreigners in Turkey and which banks open accounts for foreigners? Here we tell you everything you need to know.
How can foreigners open a bank account? While opening an account, banks ask you to provide certain information and documents. As a foreigner, you can easily open a bank account by collecting the information and documents requested by banks and making the necessary preparations. Documents and information that must be requested when opening an account:

Passport. Residence address. Tax number. Mobile number. It is mandatory to have a passport at the time of account opening and you must carry it with you.

Another document that will be requested from you at the time of account opening will be your residential address. For this reason, if you do not yet have an official residential address, you can start by determining the notification address first. The residential address is also required to receive the tax number.
اForeign nationals who want to open a bank account in Turkey must also provide a tax number. You can easily get the tax number from the tax offices. Your passport and residential address are enough to get a tax number. Some banks require a mobile phone number to open an account, which is obtained from GSM operators in Turkey. This is not mandatory in some banks, but if you want to use channels such as the Internet branch to access your bank account, you must get a mobile phone line from Turkish operator companies. You can buy a credit or postpaid mobile phone line from Turkish operator companies such as Tercel, Vodafone or Turk Telekom.
In short, passport, residential address and tax number are enough to open a bank account as a foreigner in Turkish banks. After submitting these items, you can open a bank account and start your bank transactions. Which banks open accounts for foreigners? You can open a bank account in any Turkish bank. One of the favorite banks of foreigners in Turkey is Ziarat State Bank. For example, you can open an account at Ziarat Bank.
It is important that a bank account meets the needs and expectations. We think that the number of branches or ATMs of banks is a criterion in this regard. To discover banks and their services, you can browse our list of the largest banks in Turkey. This list includes both the size of the total assets and the number of bank branches.
Another criterion that will help you find the most suitable bank may be whether the bank you are opening an account with supports opening a foreign currency account or not. In all Turkish banks, you can open a bank account in Turkish Lira, US Dollar and Euro currency. However, if you want to open an account in currencies like Swiss francs, Kuwaiti dinars, or Saudi riyals, your options may be a little more limited. If you have such intention, you can check our list of currency account offers.
What can be done by opening a bank account in Turkey? With a bank account that you open in Turkish banks, you can freely access your money and avoid international fees while you are in Turkey.
If you work in a company located in Turkey or if you plan to work in the future, you can receive your salary directly from your bank account. You can make purchases with the bank account card that will be sent to you after opening the account. . Likewise, you can use your bank account card to shop online. You can also use your debit card for transactions such as depositing and withdrawing money from ATMs to your account.
Bank accounts in Turkey basically charge more interest. You can use your savings with deposit interest. In addition, you will be able to evaluate your savings by taking joint funds from your bank.
Can I get a credit card after opening an account? Opening a bank account in Turkey does not guarantee that you will be able to get a credit card from the bank you opened the account with. There are requirements to get a credit card in Turkey and it is checked whether people are suitable for these conditions or not.
In order for a citizen of the Republic of Turkey to get a credit card, a good credit score and documented regular income are checked. It is also checked whether there are similar conditions for foreign nationals.
Banks require a guarantor from foreigners who want to buy a credit card, provided that they have a stable and documented income. You can find more information about this in our article Can foreigners get a credit card? How to get a Turkish tax identification number?If you have already purchased a property in Turkey, you must already have a Turkish tax identification number. Otherwise, you can get a tax identification number immediately by visiting your local tax office and applying with just your passport.
Housing loans offered by Turkish banks Some Turkish banks offer housing loans to foreigners for housing financing. However, if you do a little research, you will find that the tax implications of this transaction are very high and it is not a smart financial investment option. In this way, you may buy another new apartment with the tax amount you pay.How can foreigners without a residence permit open a bank account in Turkey? Foreign citizens who do not have a residence permit can open an account in Turkey by depositing a deposit of 30,000 liras only in Ziarat Bank.

How safe are Turkish banks? It's natural to expect that any foreigner would be concerned about how safe their money is in a Turkish bank account. At this point, the relevant SDIF regulations come into effect. Savings Deposit Insurance Fund (TMSF) is the official government institution of savings and insurance deposits.
The guarantee of the Savings Deposit Insurance Fund (TMSF) is valid for savings opened in banks by natural persons up to 150,000 liras. For this reason, some foreigners decide to split their money into two or three different bank accounts. For more information, you can visit the official website of TMSF.

Popular Turkish banks for foreigners

Yapı Kredi Bankası has a retail banking section in English on its website. Yapı Kredi is the fourth largest private bank in Turkey with 908 branches.

Türkiye İş Bankasıİşbank calls itself "Turkey's Bank for Foreigners". There is a separate 'Overseas Banking' section on their English website, and branches offering banking services for foreigners offer one-to-one communication with English-speaking representatives.

HSBC HSBC is one of the most popular banks among foreigners due to its position as an international bank. However, as the international branches are not connected, you cannot go to an office in Turkey to inquire about your UK account. There is also an English language website in addition to English speaking staff in certain branches.

DenizBank Denizbank is especially popular among foreigners who want to deposit money into an interest savings account because it offers one of the best rates on the market. Its popularity is boosted by its English-speaking staff at individual branches, as well as an English-language website.

Garanti Another private bank, Garanti's overseas banking division focuses on providing all its services in English, including internet, phone banking, ATMs and English-speaking staff in some branches. Guarantee is also a Western Union institution.

AkBank also has bank branches abroad. In addition to the standard services, benefits such as tax consulting services and foreign travel cards are issued to earn miles during travel. Akbank is another bank associated with Western Union.

بState-owned banks Other options include Zirat, Halk, and Vakiflar state-owned banks. There are also some Islamic banks in Turkey such as QNB Finansbank.