Opening a bank account in Turkey

The Turkish economy has made qualitative leaps in the past few years. It has succeeded in elevating Turkey to the rank of superpower, which contributed to attracting capital to it from everywhere in the world to establish current investment projects that benefit everyone. As a result, the question increased about how to open A bank account in Turkey to deposit money and ask about available options. This article will cover all the details related to opening a bank account in Turkey.

What is the importance of opening a bank account in Turkey?
Some people may think having a lot of money or being a business must have a bank account. Otherwise, there is no need for that, and this is not true; as a result of the significant progress and development that the world has witnessed, a person must have his account in One of the banks because most of the operations and accounts are done in this way, in Turkey you can benefit from your bank account in several ways:

- Pay all installments and fees incurred by you, such as property rent or study fees.
- Paying all bills, including water, electricity, gas, and Internet.
- Facilitating the process of transferring funds, whether from one account to another in the same country or other countries.
- Take advantage of all the online market services and enjoy unlimited shopping with a credit card.
- Exchange of currencies and convert them from one form to another at a reasonable exchange rate different from exchange houses.
- Solving all matters and paying fees and bills over the phone without the need to visit the bank through a particular application for each bank saves effort and time.

What are the forms of bank accounts in Turkey?
Current account :
It is one of the most common types of accounts, and through it, an account is opened without specifying a deadline for it, and it does not result in any profits, and you can withdraw and put your money in it at any time you want.

As for the services that can be collected from this account, they are:

- Pay fees

- Pay bills and taxes

- Money Transfer

- Transfer between currencies

- Automatic payment orders, and by that, we mean the monthly fees arranged on the account holder, such as property rent or monthly bills, which are automatically deducted monthly.

Participatory account:
The account owner participates with the bank and operates its money within its projects, and all profits or losses are deducted from the bank and the account.

As for the projects being worked on, they are financing for commercial, industrial, and tourism businesses.

And returns are not determined in this type of account at the beginning but rather after the completion of the project.

Current Gold Account:
In this type of account, savings and money are evaluated in gold, and some banks allow the possibility of keeping them according to the price of other minerals. This account is also not fixed for a term.

What are the documents required to open a bank account in Turkey?
There is a set of papers that must be prepared in case you wish to have a bank account in one of the banks affiliated with Turkey, which are:

- Your passport.
- The tax number is extracted from the tax department in Turkey.
- Turkish residence number.
- A document to prove the address in Turkey must not be more than three months old.

What are the steps for opening a bank account in Turkey?
In the beginning and as the first step, a document must be brought proving the place of residence in Turkey, and it can be any service bill. Then all foreigners must extract the tax number; this process is simple and does not take several minutes. After receiving the tax number, you can go to the bank you chose to follow the procedures and sign the necessary documents. Finally, you can open an account in Turkish currency or dollars or euros.

And if you want to open a bank account in Turkey but do not reside there, there is no problem, as non-residents have the right to open a bank account in Turkish banks, and all procedures are completed via the Internet.

What are the best banks in Turkey?
There are many options for banks, and all of them provide many distinctive services, and below we will mention the most famous of them:

- Ziraat bank is considered the oldest bank in Turkey and provides many services. It also supports the use of the Internet to complete the procedures and provides its application for all its users.
- AK bank: This bank was inaugurated in 1948, and it provides distinguished services to individuals, institutions, and projects of all kinds.
- Finans Turkiye bank: This bank is considered the official partner of the National Commercial Bank of Saudi Arabia. It has gained great fame for being the first bank to use the installment card for services in Turkey.
- Is bank: It is located within the top 100 international banks and provides many services to customers as it supports many economic projects on Turkish territory.

Can Syrians have a bank account with Turkish banks?
Many banks in Turkey allow Syrians to open their bank account through the Kamlek card, including the Ziraat Bank and Kuwait Turk Bank, and there is no doubt that Syrians who have a passport have the most comprehensive options for them.