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July 1, 2022Procedures of opening a Turkish Bank Account for foreigners
I explain the procedures of opening a Turkish Bank Account for foreigners. You can discover how you can open bank account and enter the financial system in Turkey. Also, I will give you insights about the advantages of using Turkish banks. In the final section, I will share the required documents and procedures.
Section 1: Advantages of Opening Bank Account
- When you have bank account, you don't need to carry cash with you all the time
- Easier to pay your rent and to shop
- International money transfer fees and commissions are lower than other channels of sending money abroad.
Section 2: Compliance Departments of Banks
- Every bank has its compliance department and they set the regulations of opening bank account for foreigners
- If you have residence permit and address registration, you can open bank account in most of the banks
- If you don't have residence permit, I can recommend Ziraatbank. They open bank account without residence permit if you deposit 30,000TL for 3 months.
Section 3: Required Documents to Open Bank Account in Turkey
- Passport
- Residence Permit (Turkish tax id number if you don't have residence permit yet)
- Turkish phone number
Section 4: Steps of Opening Bank Account
- Visit the bank branch. Note that some banks have specific branches for foreigners. It is better you visit these branches.
- Bring your passport, residence card and mobile phone
- Receive credentials for mobile banking