Opening a bank account in Turkey is a straightforward process for foreigners, whether you’re an expat, investor, or student. Having a local bank account makes it easier to manage finances, receive payments, and pay bills. Here’s everything you need to know about opening a bank account in Turkey.
1. Why Open a Bank Account in Turkey?
- Convenient Money Transfers: Send and receive payments locally and internationally.
- Real Estate & Investment: Required for property purchases and business operations.
- Daily Transactions: Pay rent, utility bills, and other expenses smoothly.
2. Best Banks for Foreigners in Turkey
- Garanti BBVA: Popular among expats for digital banking services. (Our Favourite)
- Ziraat Bankası: Government-owned, ideal for long-term residents.
- Akbank: Offers English-language services and convenient online banking.
- İş Bankası: A leading bank with expat-friendly options.
- HSBC Turkey: Good for international banking and business accounts.

3. Requirements for Opening a Bank Account
To open a personal bank account in Turkey, you’ll need:
- Passport (Original & Copy)
- Turkish Tax Identification Number (Vergi Numarası)
- Proof of Address (Utility Bill or Rental Agreement)
- Turkish Phone Number (For SMS Verification)
For business accounts, additional documents such as company registration papers and tax certificates may be required.
4. Step-by-Step Process to Open a Bank Account
Step 1: Obtain a Turkish Tax Identification Number
- Visit the local Tax Office (Vergi Dairesi) or apply online.
- Required for all financial transactions in Turkey.
Step 2: Choose a Bank
- Research and compare banks based on fees, services, and language support.
- Visit a local branch or check if online applications are available.
Step 3: Submit Required Documents
- Bring your passport, proof of address, and tax number to the bank.
- Fill out the necessary forms and agree to the bank’s terms.
Step 4: Deposit Initial Funds
- Some banks may require a small deposit to activate the account.
- International transfers may take a few days to process.
Step 5: Activate Online & Mobile Banking
- Register for online banking to manage transactions digitally.
- Enable SMS notifications for security and updates.
5. Can Foreigners Open a Bank Account in Turkey Without Residency?
Yes, some banks allow non-residents to open accounts, but requirements may be stricter. It’s best to check with individual banks beforehand.
6. Tips for Managing Your Bank Account in Turkey
- Use Online Banking: Many banks offer apps for easy transactions.
- Check Fees & Charges: Be aware of international transfer costs.
- Keep Your Tax ID Safe: You’ll need it for various financial transactions.
Final Thoughts
Opening a bank account in Turkey is essential for managing finances efficiently as an expat or investor. By following these simple steps, you can easily set up an account and enjoy seamless banking services.
Need help opening a bank account in Turkey? Contact us today for expert guidance and support!