Email: info [at] travok.estate
Company address: No. 20, Hajar St., Atatürk Sq., Alayna, Turkey
Days and working hours: Monday to Friday - 9:30 to 19:30
Travok construction
شرکت سازنده و املاک تراوک با بیش از ۱۰ سال سابقه
Opening bank account in Turkey
Opening bank account in Turkey is an essential step for anyone planning to live, work, study, invest, or purchase property in the country. It provides a secure platform for managing finances, conducting transactions, and accessing various banking services.
This guide will delve into the process of opening a bank account in Turkey for foreign nationals, highlighting the requirements, procedures, and benefits involved.
Opening a bank account in Turkey is a straightforward process that provides foreign individuals with a gateway to financial services, secure transactions, and investment opportunities. By following the outlined procedures, understanding the requirements, and selecting a suitable bank, you can seamlessly integrate into Turkey’s financial landscape and manage your finances effectively.
Eligibility for opening bank account in Turkey
Foreigners with a valid work permit or residency in Turkey, along with a valid foreign identity number, can easily open a bank account without any restrictions.
They can visit any bank of their choice and follow the standard account opening procedures. Additionally, foreigners who do not work or reside in Turkey can also open bank accounts under certain conditions.
Opening an international bank account in Turkey
Opening an international account based on global and reputable currencies such as USD, EUR, GBP, etc. is now possible with just your passport and without Turkish residency.
Having your own international account and a linked Visa or Mastercard that you fully own can be much more preferable for many than working with intermediaries with high fees.
These accounts are life-long as long as you comply with Turkish banking regulations (which we will discuss below) and allow you to deposit and withdraw any currency from around the world.
Here’s a table summarizing the general requirements and steps for opening a bank account in Turkey for residents and foreigners:
| Criteria | Details for Turkish Citizens | Details for Foreigners |
| Identification Document | Turkish ID card or passport | Passport (valid and translated if required) |
| Tax Identification Number | Not required (already linked to Turkish ID) | Required (obtained from the local tax office in Turkey) |
| Residence Address Proof | Utility bill or official residence document | Utility bill, rental contract, or residence permit |
| Phone Number | Turkish phone number (for SMS verification) | Turkish phone number (recommended) |
| Initial Deposit | Varies by bank (some accounts may require no deposit) | Varies by bank |
| Visa/Residence Permit | Not required | Valid visa or residence permit may be required |
| Additional Documents | Employer letter or income proof (for specific accounts) | Proof of income or financial activity (if requested) |
| Bank Options | Ziraat Bank, İş Bankası, Garanti BBVA, Akbank, etc. | Same banks available |
| Language Support | Turkish (default); some banks offer English/other languages | Foreign language support varies by branch |
Having a bank account in Turkey without residency
If you are a non-resident of Turkey, you will need a valid address to provide to the bank. You can open an account at Ziraat Bank (without a dollar account) and VakıfBank (+ dollar account).
Foreigners who do not reside in Turkey can open bank accounts under specific conditions:
-Deposit Requirement: A minimum deposit of approximately $6,000 is typically required, and the funds must remain in the account for a specified period, often three months.
-Authorized Representative: You may need to appoint an authorized representative in Turkey who can act on your behalf and handle account-related matters.
-Turkish Tax Identification Number: Obtaining a Turkish tax identification number is still necessary for non-resident account holders.
If you have Turkish residency, you can open an account at İş Bank. You will also need to provide the bank with a water and electricity bill in your name to prove your residency in Turkey.
However, even without residency, you can have an account at large and state-owned banks in Turkey.
Opening bank account in Turkey at Ziraat bank
Ziraat Bank has various accounts. The accounts opened for foreigners in this bank do not have a dollar currency and are based on 4 currencies: lira, euro, pound, and Swiss franc.
However, we will introduce banks that open dollar accounts for non-residents below.
Ziraat Bank is a state-owned bank in Turkey and is one of the oldest banks. Ziraat Bank offers good services for depositing and carrying out banking activities in Turkey.
This bank also offers powerful electronic banking. We will introduce Ziraat Bank’s mobile banking and internet banking services for opening a bank account in Turkey below.
Opening a bank account in Turkey by Ziraat Bank is usually done in less than a day.
Accourding to what Ziarrat banak announced”1863 yılında mütevazi bir yardımlaşma sandığı olarak kurulup zaman içinde büyük atılımlarla gelişen Ziraat Bankası bugün ülkenin en değerli aktifleri arasında yer almaktadır.” That means “Ziraat Bank, which was founded as a modest cooperation fund in 1863, now ranks among the most valuable assets in the country.
Familiarity with Turkish banking
Turkey is connected to the international banking system. Due to the connection to the free world economy, you will not have any restrictions in terms of banking in Turkey.
In other words, having a bank account in this country is not only for everyday tasks such as transferring money and paying bills, but you can also do much more important things.
Turkey has several banks, but a number of Turkish banks do not provide services to foreign nationals Two well-known private and public banks in Turkey.
1. Işbank is the first private bank in Turkey.
2. Ziraat Bank, which is the largest state-owned bank in Turkey.
Fortunately, the services of both of these banks are at a good level and will meet all your banking needs.
The important thing about opening a bank account in Turkey is that by opening an account, you will receive a Visa or MasterCard. These are two American companies that provide banking services around the world.
This means that with this card, you will be able to pay from Turkey on foreign sites and also receive money from foreign countries. Of course, provided that you also activate the euro and dollar account when opening an account!
Best banks in Turkey for foreigners
The Turkish banking system has undergone significant transformations over the past decade, making it increasingly attractive for foreign investors.
This article delves into banks in Turkey for foreigners, encompassing both state-owned and private institutions, that play a pivotal role in the country’s economy and actively encourage foreign investment.
İş Bank
Established in 1924 during the era of Mustafa Kemal Atatürk, İş Bank stands as one of Turkey’s oldest and most reputable banks.
Ranked among the world’s top 18th largest banks, İş Bankası boasts an extensive network of over 1,000 branches within Turkey and 21 international branches. Its comprehensive range of services caters to both domestic and international clientele, encompassing various banking accounts tailored to individual needs.
Additionally, İş Bankası maintains strong global partnerships in Germany, Russia, and Georgia. Embracing the digital shift accelerated by the COVID-19 pandemic, İş Bankası has successfully expanded its activities.
Ziraat Bank
Proudly holding the title of Turkey’s oldest bank, Ziraat Bankası commenced operations in 1863 with a primary focus on supporting the nation’s agricultural sector.
Initially, the bank provided essential financial assistance to farmers by facilitating loans for the procurement of agricultural equipment.
Headquartered in Ankara, Turkey’s capital city, Ziraat Bankası has garnered a reputation for its exceptional customer service and streamlined account opening procedures, making it a preferred choice among foreign individuals seeking banking services in Turkey.
Opening a bank account is one of the requirements of life in any country. If you intend to live in Turkey, opening a bank account will be one of your first steps.
Vakıf Bank
Vakıf Bank, established in 1957, is one of the renowned Islamic banks in Turkey. It offers innovative banking solutions and services to individuals and businesses. It is the first and only Turkish bank to receive a banking license in Qatar.
VakıfBank has its own unique way of staying financially strong in the region. It also has branches all over the world, including New York, Erbil Iraq, Bahrain Coast, Australia, and Germany.
Garanti Bank
Next in our list of the best banks in Turkey is Garanti Bank. Established in 1946, it is the second-largest private bank in Turkey.
Its assets are worth approximately $65.5 billion. The bank provides banking services to large and small businesses and has served over 20 million customers to date. It has over 869 domestic branches and 8 international branches.
Deniz Bank
Deniz Bank was founded in 1938 as a state-owned bank. In 1997, it was purchased from the public sector and transferred to the private sector.
Then, the largest bank in the UAE, NBD, partnered with the bank, and its stock value reached $3.2 billion. This is a good reason for the confidence of foreign investors in the banking sector and the future of the Turkish economy.
DenizBank Turkey is considered the fifth-largest private bank in Turkey with 708 branches in Turkey and 43 branches outside of Turkey.
Halk bank
Established in 1933 in Ankara, the capital of Turkey, Halkbank is considered one of the most desirable banks for businesses both in Turkey and abroad.
A wide range of banking services are provided in this bank, including bill payments, money transfers within and outside Turkey, transactions outside Turkey, credit card issuance, and loans.
Opening an account in this bank is easy and you can easily control your account in this bank. It has over a thousand branches in Turkey and 5 branches outside Turkey.
Yapi Kredi Bank
Established in 1944 by Kazım Taşkent as Turkey’s first private bank, Yapi Kredi Bank has over 10 million customers and more than 1,000 branches. It is one of the largest investment and financial banks in Turkey.
| Bank name | Type | Ownership | Founded |
| Ziraat Bank | Public / State | Government-owned | 1863 |
| Halkbank | Public / State | Government-owned | 1933 |
| VakıfBank | Public / State | Government-owned | 1954 |
| İş Bank | Private | Publicly traded | 1924 |
| Garanti BBVA | Private | Foreign-owned (BBVA) | 1946 |
| Akbank | Private | Sabancı Holding | 1948 |
| Yapı Kredi | Private | Koç Holding & UniCredit | 1944 |
| DenizBank | Private | Foreign-owned (Emirates NBD) | 1938 |
You can definitely get to know these banks in Turkey by getting to know the best banks in Turkey. Foreigners can easily open an account in all banks.
However, opening an account may differ from one bank to another. It is best to evaluate all of these banks and choose the one that best suits your needs.
Before opening an account in any bank, you should know your purpose for opening an account in that bank and become a special customer in that bank. Travok company can help you to open an account bank in Turkey.
Opening bank account in Turkey fees
Turkey Helper’s fee for receiving a debit and credit card at Ziraat Bank is $100 (around 3300 lira) all-inclusive, which is paid in full by you after opening the account and no fees are charged to the customer before then.
Turkey Helper also opens accounts at VakıfBank in addition to Ziraat Bank, which has different documents and requires translation of some documents, so the cost varies depending on the conditions. You can contact our experts to find out.
Since Turkey Helper is an official and registered institution, the customer must be present at the Istanbul office and will go to the bank with a Turkey Helper bank expert to open an account. Please note that opening a bank account without residency in Turkey is not illegal.
This is done by us through legal processes and is completely different from many similar services that are scams or illegal actions. The post-opening account payment terms are designed to assure you that this process is legal and not a scam.
Also, no fees are charged from Iran for processing and the fee is paid in full after opening the account.
Required documents for opening account banks
In answer to how to open a bank account in Turkey, foreign individuals typically need to provide the following documents:
-Original Passport: A valid passport is mandatory for identification purposes.
-(Kimlik Kart): If you have a residency permit in Turkey, you will need to present your Kimlik Kart.
-Tax Identification Number: Obtaining a Turkish tax identification number is crucial for opening a bank account. You can apply for this number online or at the Turkish tax office.
-Turkish SIM Card: A Turkish SIM card is required to receive bank notifications and access mobile banking services.
Reasons for opening an account bank in this country
Opening a bank account in Turkey offers several advantages for foreign individuals:
-Secure Financial Management: A bank account provides a safe and secure way to store and manage your money in Turkey.
-Convenient Transactions: With a Turkish bank account, you can easily make payments, transfer funds, and withdraw cash within Turkey and internationally.
-Access to Banking Services: You can avail of various banking services, including online banking, mobile banking, debit cards, and credit cards.
-Investment Opportunities: Bank accounts can facilitate investments in the Turkish stock market and other financial instruments.
-Business Transactions: If you are running a business in Turkey, a bank account is essential for business transactions and receiving payments
Steps for opening bank account in Turkey
The general process for opening a bank account in Turkey involves the following steps:
-Select a Bank: Choose a reputable bank that suits your needs and preferences. Research and compare different banks’ offerings and fees.
-Visit the Bank Branch: Visit the chosen bank branch with the required documents.
-Complete the Application Form: Fill out the bank’s account opening application form accurately and provide all the necessary information.
-Submit Documents: Submit the original and copies of the required documents to the bank representative.
-Deposit Funds: Make the initial deposit as required by the bank’s policy.
-Account Activation: Once the verification process is complete, your account will be activated, and you will receive account details and access credentials.
-Additional Services: You can request additional services like debit or credit cards, mobile banking, and online banking.
How to open bank account in Turkey in 2025
As of 2025, Turkey’s banking sector continues to evolve, offering enhanced services tailored to the needs of foreigners.
Whether you’re planning to reside, invest, or conduct business in Turkey, understanding the process of opening a bank account is crucial.
Typically, bank working hours in Turkey are from 9:00 AM to 5:00 PM, Monday through Friday. However, hours can vary based on the bank and branch location.
It’s advisable to check the specific working hours of your chosen branch, especially during public holidays or in different regions.
For those seeking flexibility, digital banking platforms like Wise and Revolut offer multi-currency accounts that support Turkish Lira (TRY).
These platforms allow you to hold, send, and receive payments in TRY, often with lower fees and without the need for a physical presence in Turkey.
In summary, opening a bank account in Turkey as a foreigner has become more streamlined, with numerous banks offering services tailored to international clients.
By understanding the requirements and exploring both traditional and digital banking options, you can efficiently manage your financial activities in Turkey.
Considerations before opening bank account in Turkey
Choose a Convenient Location: Select a bank branch that is easily accessible to you for regular transactions and account maintenance.
-Understand Fees and Charges: Carefully review the bank’s fee schedule and ensure you are aware of all applicable charges and commissions.
-Activate Mobile Banking: Set up mobile banking to conveniently manage your account on the go through your smartphone or tablet.
-Keep Account Information Secure: Protect your account details, login credentials, and bank cards to prevent unauthorized access and fraud.
Which Turkish banks is better for foreigners?
Choosing the right Turkish bank as a foreigner depends on your specific needs, such as personal banking, investment opportunities, or convenience for international transactions. Several banks in Turkey cater to foreigners with user-friendly services, English-language support, and competitive offerings. Here’s a detailed guide to help you decide which bank suits you best.
Top Turkish Banks for Foreigners
1.Ziraat Bankası
As a state-owned bank, Ziraat Bankası is highly reliable and widely accessible, with branches across the country. It offers straightforward services for foreigners, including multi-currency accounts and competitive fees for domestic transactions. While its online banking system supports English, it may not be as advanced as some private banks.
2.Garanti BBVA
Garanti BBVA is one of the most popular choices for foreigners, thanks to its advanced mobile banking app, comprehensive English support, and excellent customer service. It offers a variety of account options, investment tools, and easy international money transfers. However, some services may have slightly higher fees compared to state banks.
| Bnak name | Account Type | Interest rate (%) | Maturity Period (Days) |
| Garanti Bnak | e-Svaing account | up to 46.00% | 32-400 |
| ZIraat bank | TL time deposit | Up to 30.00% | 365 (1 year) |
3.İşbank (Türkiye İş Bankası)
As Turkey’s oldest private bank, İşbank is a trusted choice with robust online banking features and English-speaking staff. It provides flexible account options, including savings and investment accounts, making it ideal for expats and foreign investors. İşbank also has extensive branch coverage in major cities and tourist areas.
4.Yapı Kredi
Yapı Kredi is known for its modern banking solutions and user-friendly digital services. Its multi-currency accounts and accessible mobile app make it a great choice for foreigners who prioritize convenience and efficiency.
5.Akbank
Akbank offers competitive options for daily banking, loans, and credit cards. Its online banking system is efficient, and its staff often speaks English in major branches.
Factors to consider for opening bank account in Turkey
•Language Support: Private banks like Garanti BBVA, İşbank, and Yapı Kredi typically provide better English-language support than state-owned banks.
•Digital Services: If you prefer managing your accounts online, Garanti BBVA and Yapı Kredi stand out for their advanced mobile apps.
•Fees and Charges: State banks like Ziraat Bankası often have lower fees for domestic transactions.
For foreigners in Turkey, Garanti BBVA and İşbank are excellent options due to their robust services, English support, and easy-to-use digital platforms.
However, if cost is a priority, Ziraat Bankası offers reliable services with lower fees. Assess your banking needs and prioritize factors like location, language, and digital tools to choose the best bank for you.
Important questions about bank accounts in Turkey
What types of bank accounts are available in Turkey?
Savings accounts, checking accounts, foreign currency accounts, and time deposit accounts.
What documents are needed to open a bank account in Turkey?
Valid ID (passport or national ID), proof of address, and tax identification number.
Is it possible for foreigners to open a bank account in Turkey?
Yes, foreigners can open bank accounts in Turkey.
What is the minimum deposit required to open a bank account in Turkey?
Minimum deposits vary by bank and account type, often starting around 100 TRY.
Are there any fees associated with bank accounts in Turkey?
Yes, banks may charge monthly maintenance fees, transaction fees, and withdrawal fees.
Can I access my Turkish bank account online?
Yes, most banks offer online banking services.
What is the currency used for bank accounts in Turkey?
The Turkish Lira (TRY).
How can I transfer money internationally from my Turkish bank account?
Through SWIFT transfers, online banking, or remittance services.
Is there a limit on cash withdrawals from ATMs in Turkey?
Yes, limits vary by bank and account type, typically ranging from 1,000 to 3,000 TRY per transaction.
How do I close my bank account in Turkey?
Visit the bank branch with your ID and request account closure, ensuring all transactions are settled.
About us
Travok real estate and construction has stated its activities since 2014. We can help you to get Turkish citizenship and also Turkish residency in a short time.
For more information about our property for sale in Alanya or houses for sale in Istanbul buying any property for sale in Turkey you can contact our experts.
If you have any questions about the Greek Golden visa or buying property in Dubai, you can read our other articles.
Contact us
List of Travok properties in Alanya
You can only compare 4 properties, any new property added will replace the first one from the comparison.
Turkey Residence, Real Estates, Investments and jobs
April 18, 2025 Friday!
Travok construction
- Login
- Register