All the details and procedures for opening a bank account in Turkey

If you are thinking of making this magnificent country your new home or planning on buying a property in Turkey, then you’ll need a bank account in a Turkish bank, because it is necessary for many things, starting with different purchase processes to the payment of different monthly bills.

What are the most important details and procedures for opening a bank account

Not to mention that foreigners who are thinking about buying property in Istanbul or Turkey, in general, need a Bank account in Turkey to pay the property value.

So, What is the way to open a bank account in Turkey, which banks are the best and most suitable for foreigners? And what are the papers and documents needed?

What are the documents required for opening a bank account in Turkey?

Whenever a foreigner wishes to open a bank account in Turkey, the bank employee requests the following papers:

• Residence "of all types"
• A valid passport if he has not obtained residency yet
• The address of residence in Turkey is confirmed by the Registry Department
• The address in the country of origin if the account was opened with a passport: "Opening a bank account by passport is only accepted by some banks"
• The tax number extracted from the Tax Directorate
• The Turkish National Number or TC, but the banks rarely ask for this number, i.e. it is according to the bank that the foreign had chosen  in Turkey

How to communicate with banks in Turkey

Banks in Turkey provide several ways to communicate with them, including:

• A field visit to the main banking agency or one of its branches in various regions of Turkey, its states and municipalities.
• Through the means provided by the bank, such as the website, phone numbers, etc.
• By e-mail or various social media platforms.
• Through the various ATMs distributed in all regions of Turkey if not all neighborhoods.

A list of banks in which any foreigner can open an account in Turkey

Many Turkish and foreign banks are active in Turkey and attract many foreign customers, but recently, foreigners have turned towards specific banks, given that they provide services that are more appropriate to the desires of foreigners, including:

Kuveyt Turk , Al Baraka, Ziraat Bank, Anadolubank, Ak Bank, Yapıkredi, Is bank, Vakif Bank, DenizBank and Garanti Bank.

Important advice for those wishing to open a bank account in Turkey

Before opening a bank account in Turkey, foreigners must know all the following information:

• It is preferable to open an account in the three currencies "lira, euro and dollar"
• The activation of the bank account via the Internet through the mobile application should not be neglected.
• Not to leave the bank’s headquarters until receiving the letter of activating the bank account electronically because of the importance of the step in transferring funds inside and outside Turkey.
• Receive your credit cards directly if possible "depending on the bank".

Finally, it should be noted that opening a bank account in Turkey for new residents is very important since it provides great facilities in daily financial transactions, not to mention its role in saving money, which creates psychological comfort for the foreigner residing in Turkey, whether he is staying with a real estate residence after buying property in Istanbul or other cities, or any other type of residence.