Opening a Bank Account in Turkey for Expats
Turkey is magical. Its culture attracts expats and tourists alike, with more than 11 million tourists visiting the city in 2014. There are over 210,000 foreigners living in Turkey – 26,000 are workers and 25,000 come to Turkey to study. One of the first things you will have to do when you come to Turkey is open a bank account. And the truth is, opening a bank account in Turkey is pretty easy and straightforward.
Documents you need to open a bank account in Turkey:
- At least one form of identification (ID card, passport – not older than 10 years, birth certificate)
- Turkish Tax Number
- Residency permit is optional and it depends on your bank.
Best Turkish banks for expats
These banks have branches all over the country and make your banking as a foreigner easier.
Yapi Kredi Bankasi is one of the first banks in Turkey that performed foreign business. It offers a large selection of options for expats, making opening a bank account in Turkey easy.
- Utility bill payments
- Standing payments
- Rent payments
- Money transfer
- Online banking is available
İşbank is the largest bank in Turkey and the first bank to open in the country. It offers several English-speaking branches available for expats and has plenty of expat banking options available.
- Online banking
- English-speaking branches
- Money transfer
- Payments tracking
HSBC branches are available all over the country. The bank is a convenient choice for expats with a foreign bank account. English-speaking staff is available at all times and you can start the application process online.
- HSBC Advance, Premier and Credit Card accounts.
- Commercial and Business banking.
- 24/7 online banking
How long does the process take?
The process depends on the bank but it shouldn’t take longer than a few weeks to receive your bank card.
Congratulations! You’re now ready to start your life in Turkey!
Have you found your apartment yet? Visit Spotahome Istanbul for a selection of apartments and rooms available for rent in some of Istanbul’s most popular areas!
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