How to Open A Bank Account in Turkey

Nowadays, a bank account is a necessary attribute for a comfortable life. If you have an account and a bank card, you can not be tied to cash, make remote payments online, pay in stores, quickly transfer money to other accounts if necessary. In addition, having an account in Turkey is very often a prerequisite for many transactions – buying and selling real estate, obtaining a residence permit, etc..

In 2020, the legislation of the Republic of Turkey was amended and now foreigners, even without a residence permit and citizenship, can open an account in a Turkish bank.

There are many branches of various banks in Turkey and, in particular, in Alanya. When choosing a bank, you should pay attention to such important points and compare them: 

The profitability of interest rates for individuals.
The presence of Russian-speaking or, in extreme cases, English-speaking staff.
Availability of a mobile application for the convenience of using the account and making online payments, regardless of your location.
The availability of ATMs and the proximity of the location relative to your place of residence.
An optional, but very useful point is the existence of partnership agreements between a Turkish bank and banks in your country (this can guarantee a lower commission when withdrawing from the card, as well as for banking procedures).
The presence/absence of additional fees for data processing services, withdrawal of money from an ATM of another bank, transfers in different currencies, their unprofitable conversion, etc.

If you are planning to take out a loan for the purchase of real estate and have already decided on the choice of a bank for this parameter, then we recommend opening an account with this bank.

The procedure for opening an account in a Turkish bank is quite simple, we will describe it step by step.

1. Get a tax number.

An individual tax number can be obtained from the local tax office (Vergi Dairesi Müdürlüğü). To receive it, you need to have only a passport and a copy of it with you. The procedure for obtaining an IIN will take about 15 minutes. It should be borne in mind that in order to open a bank account, it is necessary that at least a day has passed since receiving the TIN.
Address of the tax Administration in Alanya: Kadıpaşa, Sugözü Cd. No:6, 07400 Alanya/Antalya.

2. Choose a Turkish bank.

Choose a bank based on your preferences and the important factors described above. You can also use the recommendations of a real estate agency or a developer with whom you plan to buy a property in Alanya.

3. Open an account.

In order for a foreigner to open an account with most Turkish banks (Garanti, Ziraat Bank, Yapı Kredi, etc.), a basic set of documents is sufficient:

Tax number or Vergi Numarası.The original passport, with a seal on crossing the Turkish border.
3 pcs. photo 3x4.
A document confirming residence in Turkey (for example, a lease agreement, a certificate of residence registration from the head of the district).

For different banking institutions, some items may differ, for example, sometimes they may also require the original of your internal passport with a residence permit. 

If you need online banking, you will also need to buy a Turkish SIM card before opening an account (at least a day in advance). 

A Turkish bank account can be opened in any convenient currency. As a rule, there are three standard options – lira, euro and US dollars.

Based on the information provided, the bank employee fills out a questionnaire, which you sign and immediately receive the current account number. The bank card can be received within 5-10 days.