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Opening a bank account
Turkey has been a favorite destination for investment and real estate purchases among foreign buyers and investors for the past two decades. When buying a home and investing, the first step for foreigners is to open a bank account in Turkey, transferring their money from their home countries to Turkey in a secure manner. Opening a bank account in Turkey is an easy and short-term process. The key challenge that foreigners may face in this process is the lack of familiarity with the Turkish language. Our representatives, who speak your language and will be with you at every stage of the real estate purchase, as well as other steps, will help you open your bank account.
The documents required to open a bank account in Türkiye are as follows:
Having a bank account in Türkiye has various benefits. Some of these are as follows:
You can transfer your money from your home country to your account in Turkey whenever you need it.
Automatic payment requests can be made for your utility bills.
You don’t need to pay cash, you can pay using your debit card.
When you invest in Turkish Lira, Turkish banks pay high interest on your investments.
Having a good relationship with your bank is very important. We recommend that our clients work with only one bank so that they can establish a good relationship with their bank. The more transactions you make through the bank, the sooner the bank will get to know you and the more welcoming you will be.
Frequently Asked Questions
No. Both banks are under government guarantee.
The information required to transfer money to Türkiye is as follows:
Full name of the recipient
Full address of the recipient,
Name of bank and branch,
Address of the recipient’s bank,
IBAN of the recipient.
Yes, your money does not have to remain in the bank for each period. However, you must notify the bank one day before you want to withdraw your money for amounts above 50,000 Turkish Liras.
When you go to the bank with the required documents, opening a bank account takes less than an hour.
No! Banks do not charge you a fee to open a bank account.
The documents required to open a bank account are: passport, Turkish tax number and proof of address (water bill, electricity bill or residence permit).
You can open a bank account at any Turkish bank.
Yes, all banks, in addition to operating in English, also have their own mobile apps.
SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. Each bank has its own unique Swift code. Hence, each Swift code is a unique identifier for a bank account. In case of transferring money abroad, a SWIFT number is enough to identify the recipient’s bank account internationally.
IBAN is a combination of the recipient’s quick code and bank account number. You need an IBAN for every money transfer.
In Türkiye you can open a bank account in all currencies.