Owning bank accounts is no longer a luxury for the velvet layer, so it is necessary to open a bank account in Turkey to take advantage of the various banking services.
Steps, method and how to open a bank account in Turkey
In order to facilitate their tasks and benefit from the various banking services present in Turkish banks, all residents resort to opening a bank account in Turkey, which comes in parallel with what Turkey recently witnessed of qualitative leaps that included several vital sectors in the country, after which the Turkish economy entered a new sphere of effectiveness, to become An attractive investment pole, not only at the regional level, but also at the global level.
The importance of opening a bank account in Turkey
Not so long ago, having bank accounts and dealing with them was a luxury matter for the velvet class in society, with only businessmen and wealthy people.
Today, this is no longer the case. Rather, having a bank account in Turkey has become one of the necessary requirements to meet the requirements of modern life.
Whether you are a student, an employee, or a tourist, opening a bank account in Turkey brings the following benefits to you:
Pay the fees due (study installments - purchases - rent)
Pay bills of all kinds (water - gas - electricity - internet)
Easily transfer funds within and outside the country
Provide access to the world of online shopping via credit cards
Conducting exchanges between currency denominations with reasonable margins compared to exchange shops
Banks' adoption of smart device applications, making all previous operations possible where you are, without the need to personally visit the bank.
What are the types of bank accounts in Turkey?
current account
It is the account with no time limit, and it is characterized by being able to deposit and withdraw funds at any time, and it does not result in any profits
Through the current account, several banking services can be implemented, such as:
Money transfer
Check book transactions
Pay off loans and credit cards
Paying donations, fees and rent
Pay bills, taxes, insurance premiums and Social Security
Trade securities and sukuk
Transfer between foreign currencies and precious metals
Paying periodic installments (transferring deferred funds) such as buying real estate in Turkey in installments and paying the value of the installments monthly to the construction company account
Automated payment orders (transferring an amount or paying an invoice automatically every month, for example, and this process is done automatically, scheduled without the need for the intervention of the account holder).
Share account:
It is a type of account that allows dividends to be distributed - within the scope of the profit and loss partnership - between the account owner and the bank that operates according to the participatory system Funds collected from participation accounts are used to finance the trade, industry and services sectors in line with the principles of interest-free Islamic banking.
The most important point in this system is that the rate of return is not specified at the beginning, but at the end of the term.
What documents are required to open a bank account in Turkey?
To open a bank account, the applicant must prepare the following required papers and proofs:
Turkish residence number, if any
passport
Tax number from the tax department office
Proof of address document (such as a utility bill not older than 3 months)
Steps to open a bank account in Turkey
Submit proof of address document
Going to the tax department in person with the passport, and obtaining a tax number for foreigners for free, and the process is completed within minutes unless there is crowding
After obtaining the tax number, you can now go to any bank of your choice and open an account, whether in Turkish pounds, dollars or euros
It is possible to open a bank account in Turkey for non-residents, so that it is not required to be in Turkey to complete the process of opening a bank account, by conducting all transactions on the Internet from outside Turkey, which makes opening a bank account in Turkey for foreigners available, except that some banks may need a number Turkish mobile phone to send a text message to confirm ownership
It should be noted that the websites of banks in Turkey support the English and Turkish languages, and some of them support the Arabic language as well.
How to open a bank account in Turkey for non-residents?
Non-residents can open bank accounts in some Turkish banks, but they require special conditions related to the mechanism of work of each bank, and the volume of funds to be deposited determines the pattern of interaction by Turkish banks, and the method is to choose the type of account, and that there is a residence, until If he is not a resident, there are those who leave the residence and travel, and to obtain the tax number from the tax department, and a valid passport.
Is it possible to open a bank account in Turkey via the Internet?
Some major banks in Turkey allow opening a bank account via the Internet, especially after the Corona crisis, and there are for each bank its own conditions that it puts on its site to make things easier for people.
What is the best bank in Turkey to open an account?
Turkey has recently witnessed a remarkable development in the fields of banking, and one of the most important private, governmental and Islamic banks in Turkey, which allows opening an account in the simplest way.
Ziraat Bank: It is the oldest bank and the second largest bank in Turkey, and it provides electronic services through the Internet and banking networks, and it also provides services for smartphones through the bank's applications.
AK Bank: The White Bank, which was opened in 1948 and provides banking services to individuals, projects and institutions large and small
Finans Turkiye Bank: It was established in 1987 and is the main partner of the National Commercial Bank of Saudi Arabia, and it provides the most traditional banking services.