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Opening a Bank Account in Turkey as a Foreigner

Disclaimer: The information here is provided as a general guide. We endeavour to ensure that the information is up to date and accurate, information given here may be subject to change at any time.

Understand the Types of Bank Accounts Available
Before opening an account, familiarise yourself with the types of accounts offered by Turkish banks:

• Current Account (Vadesiz Hesap): Used for daily transactions, no interest
• Savings Account (Vadeli Hesap): Earns interest, usually requires a minimum deposit
• Foreign Currency Account: Allows holding funds in foreign currencies like USD, EUR, etc.

Prepare the Required Documents
Foreigners need to provide specific documents to open a bank account in Turkey. These typically include:

Valid Passport: Original and a photocopy
Turkish Tax Identification Number (Vergi Kimlik Numarası): Required for all banking transactions.

Proof of Address
This can be a utility bill, rental contract, or residence certificate.

Residence Permit or Visa
Some banks may require proof of legal stay in Turkey.

Phone Number
A Turkish phone number is often required for communication and verification.

Employment or Student Documents
Sometimes requested depending on the bank and account type.

Obtain a Turkish Tax Identification Number
The Tax ID number is mandatory for opening a bank account. You can get it at the local tax office (Vergi Dairesi) by presenting your passport. The process is usually quick and free.
Click for the details to obtain a tax number.

Visit the Bank Branch
All banks require you to visit a branch in person.

At the branch bring all your documents

• Inform the bank staff that you want to open a bank account as a foreigner.
• Choose the type of account you want.
• Fill out the application forms provided by the bank.
• Submit your documents for verification.

Deposit Initial Funds
Some (if not all) banks require a minimum deposit to activate the account. This amount varies by bank and account type. You can deposit cash or transfer funds from another account.

Receive Your Bank Card and Account Details
After processing, the bank will issue you a debit card (bank card) linked to your account. This may be given immediately or sent to your address within a few days.
You will also receive your account number, IBAN, and online banking credentials.

Activate Online and Mobile Banking
Most Turkish banks offer online and mobile banking services. Activate these services to manage your account conveniently, make transfers, pay bills, and monitor transactions.

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