Moving to a new country places expats in charge of numerous details, one of which is managing their finances. For those who have chosen Turkey as their new destination, opening a local bank account is a necessity. A Turkish bank account not only offers greater ease in managing everyday transactions but also provides various financial benefits. 

Navigating Turkey's banking system can be daunting for expats, especially without the proper guidance. In this guide, we will begin by providing an overview of the major banks operating in the country, highlighting some of their unique services and catering to expatriate clients. With a better understanding of the banks' offerings, expats can make informed decisions to choose one that matches their financial and banking needs.

Major Banks in Turkey

Turkey boasts a diverse banking sector with well-established domestic banks and international financial institutions providing various banking services. Some of Turkey's major banks that cater to expatriate clients include:

1. Türkiye İş Bankası (İş Bank)

2. Garanti BBVA

3. Akbank

4. Yapı Kredi

5. DenizBank

6. Ziraat Bankası

7. Kuveyt Türk

8. TEB (Türk Ekonomi Bankası)

These banks typically offer a range of services suitable for personal banking needs, such as savings and current accounts, credit cards, loans, and investment options. Visit the banks' websites or local branches to learn more about their specific services for expats and choose the one that best aligns with your financial goals.

Opening a Bank Account

To open a bank account in Turkey, follow this step-by-step guide:

1. Gather Required Documents: Before heading to the bank, ensure you have all necessary documents, including a valid passport, Turkish Tax Identification Number (Vergi Numarası), and proof of address (a utility bill or rental agreement).

2. Choose a Bank and Branch: Select a bank that best fits your financial needs and preferences, and visit a local branch or one near your residence or work. Some banks may have dedicated branches for expats or English-speaking staff to better cater to their needs.

3. Meet with a Bank Representative: Upon arriving at the bank, communicate your intent to open a bank account to a bank representative. Present the required documents and answer any questions pertaining to your account type or purpose.

4. Complete Account Opening Forms: With the bank representative's assistance, fill out the necessary account opening forms. Ensure your name, address, and other personal information are accurately recorded.

5. Deposit Initial Funds: Some banks may require an initial deposit to open the account. The amount can vary, so confirm this requirement with the bank representative.

6. Receive Account Details and Debit Card: Once the account opening process is complete, you will receive your account details, including account number, IBAN, and a debit card, either immediately or within a few days via mail.

Types of Bank Accounts

There are various types of bank accounts available in Turkey to cater to different financial preferences and requirements. Here are some of the most popular options for expats:

1. Current Account (Vadesiz Hesap): A current account is suitable for managing daily transactions, such as receiving salary payments, paying bills, and using debit cards for purchases. These accounts can be maintained in Turkish Lira or major foreign currencies.

2. Savings Account (Vadeli Hesap): Savings accounts focus on accumulating funds and earning interest over a predetermined term. These accounts are ideal for short or long-term savings goals and can be in Turkish Lira or foreign currencies.

3. Foreign Currency Account: Foreign currency accounts allow expats to maintain their funds in foreign currencies, such as US Dollars, Euros, or British Pounds. These accounts can be useful for expats working with multiple currencies or when the Turkish Lira experiences exchange rate fluctuations.

Online and Mobile Banking

Most Turkish banks offer comprehensive online and mobile banking services that allow customers to manage their finances with ease and flexibility. Here are a few benefits of utilising digital banking services in Turkey:

1. Account Management: View account balances and transaction history, transfer funds between accounts, and manage credit card payments via online or mobile banking platforms.

2. Bill Payments: Set up recurring payments for utility bills and other services, ensuring timely payments and avoiding late fees.

3. Money Transfers: Initiate domestic and international money transfers securely and quickly through online banking platforms.

4. Customer Service: Access customer support services through live chat, phone, or email via online and mobile banking platforms.

Crediting Salary and Utility Bill Payments

A local bank account becomes an essential tool for expats to manage salary payments and utility bill payments in Turkey. Many employers prefer to credit salaries directly to Turkish bank accounts, making it essential for expats to have a local account. Additionally, having a local account enables smoother management of utility bills, including the ability to set up automatic payments or utilise online and mobile banking services.

Money Transfers and International Banking

Transferring money between international and local bank accounts is a common concern for many expats. Thankfully, Turkey's banking sector offers various options for money transfers:

1. Bank Wire Transfers: Initiate international wire transfers through your local bank branch or online banking platform. Bear in mind that banks may charge transfer fees and foreign exchange fees.

2. Online Money Transfer Services: Use online money transfer services such as TransferWise, Western Union, or MoneyGram to send funds between international and local accounts, usually with lower fees and more competitive exchange rates.


For expats in Turkey, understanding and navigating the country's banking system is vital for seamless financial management and peace of mind. By following this comprehensive guide on opening a bank account in Turkey, choosing the right bank, and utilising online and mobile banking services, you will be well-prepared for a hassle-free financial experience in your new environment. 

If you're an expat living in Turkey or planning to move there, Ikamet is your ultimate destination for all your needs. We offer comprehensive resources on citizenship, residency, property, insurance, and other aspects of expat life. Our team of expert residency advisors in Turkey is dedicated to providing you with the most up-to-date and accurate information to make your transition as smooth as possible. Don't let the challenges of expat life overwhelm you. Contact us today, and let us help you navigate your new home with ease!