Turkey is not only an attractive destination for tourists, but also a country where many foreigners decide to purchase real estate or open a business. One of the first steps to comfortable living and doing business here is opening a bank account. In this article, we will look at how to do this, discuss all the advantages and conditions, and also tell you about the most popular banks for this procedure.
The content of the article
- Advantages of opening a Turkish bank account
- Registration of a Turkish bank card for foreigners without a residence permit
- Popular Turkish banks for opening an account
- DenizBank
- VakıfBank
- Ziraat Bank
- Required documents for opening a Turkish bank account
- How to open a bank account in Turkey on your own
- Step 1: Preparation of documents
- Step 2: Choosing a Bank
- Step 3: Visit the bank
- Step 4: Getting the card
- The cost of issuing a Turkish bank card
- Opening a Turkish bank account remotely
- Assistance of intermediaries in opening an account
- Our recommendations on choosing a bank for Russian citizens
- Frequently Asked Questions about bank accounts in Turkey
Advantages of opening a Turkish bank account
Opening a bank account in Turkey may be convenient due to the following factors:
- Well-developed infrastructure and a variety of services, including savings accounts, loans, investment services and international transfers.
- Location. In 2023 and 2024, Turkey became one of the most popular travel destinations. Many freelancers, self-employed professionals and investors have chosen this country to organize remote work. The main reasons are proximity to the sea, affordable direct flights to various parts of the world and the possibility of transferring funds to European countries.
Registration of a Turkish bank card for foreigners without a residence permit
This is convenient for those who are temporarily in the country or planning only short-term trips. Foreigners can open an account in a Turkish bank and get a bank card without having a residence permit, but it is quite difficult.
Popular Turkish banks for opening an account
There are several large banks in Turkey that provide services to foreigners, including the possibility of opening an account. The most popular among Russians are Ziraat and VakıfBank.
Conditions in banks can often change and depend on the city and the specific office. Non-residents may sometimes be refused to open an account, so it is recommended that they first obtain a residence permit or citizenship.
DenizBank
DenizBank is one of the largest banks in Turkey, which offers a variety of financial products for both locals and foreigners. Currently owned by Emirates NBD. From 2012 to 2019, it was owned and controlled by a leading Russian bank, Sberbank.
Some conditions:
- A minimum initial deposit of 10 thousand euros may be required;
- the ability to open an account in Turkish lira, euros and US dollars;
- Client services: extensive online banking in English, MobilDeniz mobile application services, plastic cards, corporate accounts, deposits, lending.
Despite the fact that there was no official ban, DenizBank has refused to open accounts for many Russians since 2024.
VakıfBank
VakıfBank is one of the leading state—owned banks in the country, which also provides services to foreign clients. The second bank in Turkey in terms of assets.
Some conditions:
- opens accounts in dollars, euros and Turkish lira;
- A deposit of 1 thousand or more may be required. up to 10 thousand dollars;
- Features: online banking, plastic cards, mortgage and loan products, as well as business services, including checking accounts and credit cards.
Ziraat Bank
Ziraat Bankası is one of the oldest and largest state—owned banks in Turkey with branches in various countries, including in Russia, Kazakhstan and Uzbekistan. The Bank actively provides support to both individuals and businesses.
Some conditions:
- Accounts are available in various currencies, including lira, dollars and euros;
- there is no opening fee, but some branches may require a deposit for 1-3 months;
- opening an account without intermediaries is difficult;
- restrictions: 5-10 thousand dollars can be transferred in the mobile application (more — only at the bank branch);
Required documents for opening a Turkish bank account
To open an account, a foreigner will need the following documents:
- international passport (original and copy);
- passport (original, copy and translation into Turkish);
- Turkish taxpayer identification number;
- proof of residential address (for example, lease agreement, purchase and sale agreement, utility bill);
- completed application form (provided by a representative of the bank).
The tax number can be obtained when submitting an application on the website of the Digital Tax Service. You will be able to issue an INN only after arriving in Turkey.
How to open a bank account in Turkey on your own
Step 1: Preparation of documents
Collection of all necessary documents, including passport, TIN and documents confirming the address of residence. As for legal entities, they are required to register a company in Turkey.
Step 2: Choosing a Bank
You need to study different banks and choose the one that best suits your needs and conditions.
Step 3: Visit the bank
Contact the selected bank, where they will help with opening an account. In some cases, pre-registration and remote registration are possible. You need to buy a local SIM card in advance to link your phone number and prepare funds for the deposit.
Step 4: Getting the card
After successfully opening an account, a debit card will be issued to the foreigner within a week.
The cost of issuing a Turkish bank card
In some cases, a payment of 500-1000 liras may be required for issuing a card, depending on the bank. It is also possible to pay a deposit and a small commission related to international transfers.
Opening a Turkish bank account remotely
It is possible to open an account in a Turkish bank remotely only by proxy, but in most cases personal presence is required. To apply, you need to be present on the spot, as the manager conducts the identity verification procedure and even an interview. The client’s personal signature is also required on all documents.
Assistance of intermediaries in opening an account
Various companies providing consulting and immigration services can greatly simplify the process of opening a bank account in Turkey for foreigners. They have the necessary knowledge and experience, and can also help overcome the language barrier and bureaucratic difficulties. With their help, you can find reliable banks and their suitable offices where it will be easier to open an account.
Currently, it is quite difficult for Russian citizens and other foreigners to open a bank account in Turkey without a residence permit. This is usually possible only through intermediaries, and the process depends on the specific manager in a particular department. It happens that in one office you can open an account, and in another they will refuse. However, there are no official prohibitions on opening accounts for foreign citizens.
Our recommendations on choosing a bank for Russian citizens
When choosing a bank, pay attention to the following criteria:
- the presence of restrictions for foreigners;
- the presence of Russian-speaking or English-speaking representatives in offices and customer support;
- international transfer opportunities;
- reputation and reviews of other clients.
The Tranio team will help with opening a bank account in Turkey.
Frequently Asked Questions about bank accounts in Turkey
Is it possible to open a card in Turkey for Russians?
Yes, Russians can open a bank card in Turkey, but not all banks accept applications from foreign individuals in 2024. Despite this, registration in Turkey is simple: a passport and proof of residence, as well as a taxpayer number, are usually required.
How do I open a bank card in Turkey for a Russian?
To open a Turkish bank account for a Russian, you need to:
- Choose a bank or an intermediary who will help you make an application.
- Collect the necessary documents, including the INN after moving to Turkey.
- Visit the bank or apply remotely.
- After registration, get a bank card.
Which Turkish banks open accounts for Russians?
Some of the most loyal banks that offer services to Russians are VakıfBank and Ziraat Bank. DenizBank was popular, but since 2024 it has gradually tightened the conditions for opening an account for Russians.
Is it possible to open an account in Turkey for a foreigner without a residence permit?
Foreigners can open a Turkish bank account without a residence permit, as there is no official ban. However, it is easier to do this with a residence permit. In addition to obtaining a Turkish INN, there may be requirements for opening a deposit for a certain amount.
Is it possible to open a bank account in Turkey remotely from Russia?
Some banks offer the possibility of opening an account remotely, but this requires a power of attorney. Most often, a personal presence is required for an interview with a representative of the bank and signing documents.
What documents are required to issue a bank card in a Turkish bank?
You will need the following documents to open an account in Turkey and receive a card:
- international passport (original and copy);
- passport (original, copy and translation into Turkish);
- Turkish taxpayer identification number;
- proof of residential address (lease agreement, purchase and sale of real estate, utility bill);
- completed application form (provided by the bank).
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