Elite Sinerji-Blog-How to Open a Bank Account in Türkiye in 2023?

Opening a current account in a bank in Turkey for foreign nationals provides a number of advantages:

- Significant transactions, such as buying a property/car or renting/leasing a home, are done through a personal bank account.

- The option to open an account in a variety of currencies, including euros, dollars, rubles, lira and others is available.

- Convenient payment of utility bills and annual tax obligations.

- Ability to make electronic payments for goods and services in all organizations and stores operating in the country.

- With the help of a current account you can reliably save personal savings, make financial transfers not only within the country, but also abroad, as well as safely receive funds.

In which bank in Turkey can a foreigner open an account?

- Ziraat Bank, Turkey's largest bank in terms of assets, stands out for its origin, as it was established with the cooperation of Russia and Turkey. This makes it particularly open to sending money to CIS countries, which attracts the attention of non-residents and tourists.

- Denizbank offers an interesting feature: it is convenient for foreign citizens to open a multi-currency account with a minimum deposit (starting from 10,000 Turkish Liras). The bank has 13 branches in different parts of the world.

- VakıfBank, which is one of the leading banks in Turkey, offers the possibility of opening multi-currency accounts. VakıfBank has 4 foreign branches in New York, Erbil, Bahrain and Qatar.

- Türkiye İş Bankası is the very first bank in Turkey. It has branches in various locations around the world including Russia, UK, China, Germany.

- Yapı Kredi Bankası is deservedly reputed as one of the most reliable banks. Additionally, the bank is also present with branches in Russia, the Netherlands and Azerbaijan.

- Halk Bank stands out as a leading bank, which is favored by a variety of customer categories, especially traders, artisans and small medium-sized businesses. The bank also has several overseas branches, including a presence in the UK, Bahrain, Singapore and Cyprus.

- Akbank represents one of the most ambitious state-owned banks in Turkey. In 2017, the bank achieved significant achievements, including being listed among the 500 most valuable banking brands in the world. The banking organization also has branches in Germany and the United Arab Emirates.

- Among private banks, QNB Finansbank is deservedly recognized as one of the most sought-after banks. The bank has branches in more than 30 countries in different parts of the world.

How to open a bank account in Turkey for a foreigner?

There are many banks operating in Turkey, each of which has its own terms and conditions and list of required documents for opening an account.

Documents required to open an account may include:

- Foreign passport (with a notarized translation into Turkish)

- Internal passport (with a notarized translation into Turkish)

- Temporary Residence Card in Turkey (TRC)

- Taxpayer Identification Number (TIN).

- Turkish Taxpayer Identification Number (TIN).

- Certificate of residence in Turkey.

- Receipts of paid utility bills.

- Turkish SIM card.

To open an account in Turkish banks you need to make a deposit, the amount of which varies from 3,000 to 10,000 US dollars.

Work schedule of Turkish banks

In Turkey, banks operate according to the following schedule:

Monday through Friday from 8:30 to 17:30, with a lunch break from 12:30 to 13:30.

Weekends are Saturday and Sunday.

When buying real estate in Turkey, the team of experts from Elite Sinerji Construction Company is ready to support you in the process of collecting the necessary documents for the sale and purchase transaction. As part of this support it is also possible to receive assistance in opening a bank account in a Turkish bank.