9 responses to “Banking in Turkey for Foreigners

  1. Imran

    OK so you cant get a residents permit until you have a bank account and you cant open a bank account until you have a residents permit 🙂


  2. Cynthia Brigola

    I want to know the exact amount of initial or opening deposit at any bank in Turkey,i got a friend there saying a ridiculously high amount was asked of him for opening an account, is this true, please need to know how much. Are all banks requires the same amount? Thank you..


    • I recommend your friend do some research on the banks and on what type of account they want to open. As with banks in any other country, there will be different minimum initial deposits required for different kinds of accounts (usually related to the interest rate). Initial deposits required do differ from bank to bank and, within the same bank, from one type of account to another.


  3. Ashkan

    I heard from one of my friends that the time deposit is not allowed for foreigner and we must get the citizenship for that . Is it true ?


  4. abdallah

    I want to open a currency account for trading stocks,have you an idea for this?


  5. Rinum.Kinsok

    If I retired and open a bank account in Turkey and transfer my savings to that account I will be subject to taxation even I am not working ?



  6. Theresa Ong

    I have tried twice to transfer money from my Bank Of America account to Ziraat bank in Turkey. The first time it was rejected because the name on my Bank of America account is different than my name on my Turkish bank account. The second time I tried to transfer the money to my husband’s Ziraat bank account. Everything was done as it should have been done. I was on the phone with a representative from Bank Of American while I was filling out the online form. Bank of America said everything was okay with them. They said the Turkish bank refused the transfer. What is the problem?!


  7. Alexander

    Great and very helpful information.
    I’m guided on which banking service would suit me as a businessman.

    Thanks a lot for your blog.


  8. Kim Wright

    We have a joint (myself and my husband) savings account in Turkey. Is the protected amount per person or per account? What is t currently?


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