Opening a Bank Account in Turkey as a Foreigner

Türkiye has a well-established banking system that is very helpful, produces solutions, and doubles profits. It is not difficult for foreigners to open a Turkish bank account. However, you may encounter a language barrier when collecting documents.

But if you are a TEKCE customer, you do not need to deal with these transactions alone during investing, settling in, or establishing a company in Turkey. TEKCE experts help you find the most suitable bank in Turkey for you, collect documents, and open a bank account.

The required documents to open a bank account in Turkey as a non-resident are:

• Passport. Most banks ask for a notary-approved passport translation as well.
• Turkey tax identification number.
• Proof of address. The address can be verified using your utility bill or a residence permit. This utility bill could even be from your home country. Your name and home address must be visible on the bill.
• Phone number.

The required documents to open a bank account in Turkey for foreign banks are:

• A notification address.
• A tax number.
• A passport.
• A phone number or a bill.

What are the Advantages of Opening a Bank Account in Turkey as a Foreigner?

You will receive a wide range of advantages from bank services in Turkey. The first thing that comes to mind is that you can transfer money from your foreign account to a Turkish account very easily and with reasonable fees.

You can withdraw money from anywhere in the country with your debit card and complete all your transactions at the ATM. Your card can work at ATMs of all banks. All ATMs have multiple language options too.

The rates provided by saving accounts and foreign currency accounts are also very attractive. Some banks also give cash points for spending with your debit card.

You do not even have to keep track of your bills. With the automatic payment system, your bank pays your bills on time. Turkish banks provide you with a lot of ease.

If you are going to open a bank account for a foreign company, each bank offers a wide range of additional perks, opportunities, and rates for companies. Your bank will give you detailed information about the benefits.

FAQ About Opening a Bank About in Türkiye

Here are the most asked questions about the bank services in Türkiye.

Q: Can a foreigner open a bank account in Turkey?
A: Yes, but some banks may request a residence permit. It differs between banks, and possibly even between branches.

Q: Can non-residents open a bank account online in Turkey?
A: Yes, with some banks.

Q: Can foreign companies open a bank account in Turkey?
A: Yes with the required documents.

Q: Can a US citizen open a bank account in Turkey?
A: Yes, but some banks may request a residence permit. It differs between banks, and possibly even between branches.

Q: How to choose a Turkish bank and open an account?
A: TEKCE property experts not only help you select the best bank for your needs, but they also assist you in gathering all the required paperwork and completing your transactions.

Q: What are the documents required for foreigners to open a bank account in Turkey?
A: All you need is a passport, a tax ID number, proof of address, and a phone number.

Q: What are the documents required for a foreign company to open a bank account in Turkey?
A: The required documents are a notification address, a tax number, a passport, and a phone number or a bill.

Q: How long does it take to open a bank account in Turkey?
A: It takes less than one hour.

Q: Are there any fees for bank accounts in Turkey?
A: Generally no, but some banks may require some money to be deposited into the account initially.

Q: Do you need proof of residency to open a bank account in Turkey?
A: Some banks may request a residence permit. It differs between banks, and possibly even between branches.

Q: Do Turkish banks offer services in English?
A: Most of them are yes.

Q: Do Turkish banks have mobile apps?
A: Yes, all banks have their mobile apps. Additionally, they all offer English-language services.

Q: What is the IBAN?
A: The IBAN is a combination of the recipient's swift code and bank account number. For every money transfer, you need an IBAN number.

Q: What currencies am I allowed to have in my bank account?
A: In Turkey, you can open a bank account in all currencies.

Contact TEKCE experts for more.