Opening a local bank account in Turkey is now quite easy for foreigners who frequently visit or reside here for various reasons. What used to be a complex and difficult process has become extremely practical with the advancement of technology.
At banks operating within the borders of the Republic of Turkey, anyone who completes the necessary documentation can open an account quickly. Through these accounts, individuals can benefit from profitable savings interest rates, make international money transfers, and carry out various transactions such as bill payments.
By opening a bank account, foreigners living in or connected to Turkey can freely access and utilize their funds. Additionally, they can invest their savings with deposit interest rates. For those interested in obtaining a credit card, a regular income is typically required.
Opening a bank account also offers the opportunity to gain citizenship. The Foreign Exchange Transaction Form, which is among the documents required to purchase real estate, must also be obtained from a bank operating in Turkey.
Required Documents to Open a Bank Account in Turkey
Passport: Essential for almost every legal transaction in a foreign country, including opening a bank account.
Residence address in Turkey: The person wishing to open an account must have an officially registered address of residence.
Tax identification number: Easily obtained by applying to the tax office with a passport.
Mobile phone number registered in the applicant’s name.
Advantages of Opening a Bank Account in Turkey
- You can easily transfer money from your foreign account to a Turkish bank account.
- You can withdraw money with your bank card from ATMs across Turkey and manage your transactions.
- The rates provided by investment and foreign currency accounts are quite advantageous.
- Some banks offer reward points for expenses made with their bank or credit cards.
- You are not required to monitor your bills with the automatic payment system.
