Banks in Turkey 2022 | Bank transaction details for foreigners
The banking system in Turkey has developed greatly during the past ten years, making it easier for foreigners to open a bank account in private, public, or Islamic banks after it was previously conducted according to somewhat complicated procedures.
In this article from Taksim Real Estate Consulting, we tell you how to open a bank account in Turkey, and the required documents, highlighting the most important governmental and Islamic banks in Turkey.
Procedures for opening an account in a bank in Turkey
You can create a bank account in Turkey within only one day, after submitting the following documents:
• Passport document.
• Your residence address in Turkey.
• Tax number, extracted from the tax office.
• Mobile phone number "required by some banks".
Is it possible to open a bank account in Turkey without a residence permit?
Yes, foreigners who do not have a residence permit in Turkey can open a bank account in the State Bank of Ziraat, by depositing an amount of 30 thousand Turkish liras.
Does the foreigner get a credit card after opening the account?
Opening a bank account in Turkey does not guarantee that you will get a credit card; this can only be achieved after fulfilling some of the conditions under which the bank evaluates your application, and this evaluation depends on the following factors:
• Not be less than 18 years old.
• Financial income and profession.
• Credit rating.
• Previous financial behaviour of the customer.
How to open a bank account in Turkey remotely?
You can open an account in some Turkish banks remotely, by following the following procedures:
• Have a Turkish ID card and a smartphone; for remote identification.
• You need to download the mobile application of the bank you want to open an account with on your mobile.
• Contact a bank representative to perform remote identification via video call.
• Use a strong internet network, to ensure the quality of the image and sound during identification.
• Ensure that the information you provide on the application form is current and complete.
Advantages of opening an account in Turkish banks?
Opening a bank account in a Turkish bank gives you the following advantages:
• Paying various utility bills, such as water, electricity, gas, and the Internet.
• Payment of monthly rent, and annual returns.
• Transfer and receive money.
• Receipt of international transfers.
• Buying and selling currencies.
• Trade gold and metals.
What are the languages supported in Turkish banks for customer service?
With the increase in the demand for foreign expatriates to open bank accounts in Turkish banks, There was an urgent need to provide customer service in more than one language, which is what all banks in Turkey have done.
Where Turkish banks provide their services in more than one language, most notably: Turkish, Arabic, English, French, Russian, and other languages that vary from one bank to another.
The most important government banks in Turkey
|
Number of branches |
Total Assets (million TL) |
Founding date |
The Bank |
|
1863 |
579,377 |
1766 |
|
|
1336 |
425,982 |
1924 |
|
|
998 |
407,034 |
1938 |
|
|
950 |
363,224 |
1954 |
|
|
930 |
384,384 |
1946 |
|
|
780 |
356,833 |
1948 |
The most important Islamic banks in Turkey
As a result of the increase in the demand for Islamic banks in Turkey, the number of banks that provide their banking services following Islamic law has increased, in addition to the fact that several public banks have opened private Islamic branches.
The following are the most important Turkish Islamic banks that are preferred:
1 - Kuveyt Türk Katılım Bankası
3 - Albaraka Türk Katılım Bankası
5 - Türkiye Finans Katılım Bankası
Opinions vary about the best Islamic bank in the Republic of Turkey, as banks compete to provide a package of services and facilities that distinguish it from others.
In general, all the services provided take place following the banking system in Turkey, which is characterized by a strong infrastructure, which makes the process of opening a bank account in Turkey, an ideal option for all real estate investment and ownership operations.
If you would like to know more about the most important banks in Turkey and the services they provide; do not hesitate to contact us at Taksim Real Estate Consultancy, and our legal team will be happy to provide adequate answers to your inquiries... Contact now!
Editing: Taksim Real Estate Consulting©
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