{"id":92270,"date":"2021-01-21T17:57:44","date_gmt":"2021-01-21T17:57:44","guid":{"rendered":"https:\/\/www.expatinfodesk.com\/?page_id=92270"},"modified":"2023-02-06T13:26:17","modified_gmt":"2023-02-06T13:26:17","slug":"banking","status":"publish","type":"page","link":"https:\/\/www.expatinfodesk.com\/destinations\/istanbul\/banking\/","title":{"rendered":"Banking"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row type=&#8221;container&#8221; padding_top=&#8221;&#8221; padding_bottom=&#8221;&#8221; el_class=&#8221;three-top-tips&#8221; css=&#8221;.vc_custom_1599875304748{margin-left: 0px !important;border-right-width: 0px !important;padding-right: 0px !important;padding-left: 0px !important;border-right-color: #ffffff !important;}&#8221;][vc_column width=&#8221;2\/3&#8243;][vc_column_text]<\/p>\n<div class=\"\">\n<h2 class=\"western\">Banking in Istanbul and Turkey<\/h2>\n<p class=\"western\">Whilst Ankara is the capital city of Turkey, Istanbul is the financial and business capital of the country. Most export and import businesses operate out of Istanbul. Therefore, there are many banks, domestic and international in Istanbul. Fifty-three to be exact.<\/p>\n<p class=\"western\">Due to the 2016 military coup and other terrorist attacks, Turkey lost its place as a top tourist destination. Consequently, the economy is still suffering. The Turkish lira is at an all-time low and times are tough for the average Turk. Still, there are many banks in Istanbul and many ATMs scattered around the city.<\/p>\n<p class=\"western\">Banks are open between 9:00 and 17:00 every weekday. They are closed on the <a href=\"https:\/\/www.expatinfodesk.com\/destinations\/istanbul\/weekends\/\">weekends<\/a> and religious and national holidays.<\/p>\n<p class=\"western\">As an ex-pat in Istanbul, you will need a local bank account for various reasons. It is the easiest way to pay bills and have your local wages deposited directly into your account.<\/p>\n<h3 class=\"western\">How to open a Turkish bank account<\/h3>\n<p class=\"western\">The basic requirements to open a Turkish bank account are:<\/p>\n<ul>\n<li>\n<p class=\"western\">Your passport<\/p>\n<\/li>\n<li>\n<p class=\"western\">Your Turkish tax identification number<\/p>\n<\/li>\n<li>\n<p class=\"western\">Proof of address such as a lease or utility bill from the last three months.<\/p>\n<\/li>\n<\/ul>\n<h3 class=\"western\">How to obtain a Turkish Tax Identification number<\/h3>\n<p class=\"western\">To obtain this number you have to apply at your nearest tax office with your passport.<\/p>\n<h3 class=\"western\">Turkish banks that have English websites<\/h3>\n<ul>\n<li>\n<p class=\"western\"><a href=\"https:\/\/www.yapikredi.com.tr\/en\/limitless-banking\/internet-banking\/\">Yapi Kredi <\/a>is Turkey&#8217;s fourth-largest bank with 908 branches around Turkey. Their website can be accessed in English which makes its a favorite with ex-pats.<\/p>\n<\/li>\n<li>\n<p class=\"western\"><span style=\"color: #000000;\"><a href=\"https:\/\/www.isbank.com.tr\/en\">\u0130\u015fbank<\/a> is a popular bank for foreigners and has all communications possible in English.<\/span><\/p>\n<\/li>\n<li>\n<p class=\"western\"><span style=\"color: #000000;\"><a href=\"https:\/\/www.hsbc.com.tr\/en\/\">HSBC <\/a>is an international bank however the Turkish account is not connected to a UK account. HSBC does have a website in English and has English-speaking staff at all their branches.<\/span><\/p>\n<\/li>\n<li>\n<p class=\"western\"><span style=\"color: #000000;\"><a href=\"https:\/\/www.denizbank.com\/en\/\">Denizbank<\/a> is another excellent choice for ex-pats as it has a website in English, English speaking staff at all branches and offers competitive interest rates for investors.<\/span><\/p>\n<\/li>\n<li>\n<p class=\"western\"><span style=\"color: #000000;\">Akbank associated with Western Union has an English website for foreigners.<\/span><\/p>\n<\/li>\n<\/ul>\n<p class=\"western\"><span style=\"color: #000000;\">Other large banks in Turkey are Ziraat, Finansbank, Vakifbank, Halkbank, Garanti Bank. For a list of all Turkish banks and their websites, click <a href=\"https:\/\/thebanks.eu\/banks-by-country\/Turkey\">here<\/a>.<\/span><\/p>\n<h3 class=\"western\">Transferring money overseas and vice versa<\/h3>\n<p class=\"western\">This operation is getting simpler and faster as more facilities are now available. Our site offers a link to a great and competitive foreign exchange service.<\/p>\n<p class=\"western\"><a href=\"https:\/\/www.expatinfodesk.com\/foreign-exchange-for-expatriates\/\"><span lang=\"en-US\">https:\/\/www.expatinfodesk.com\/foreign-exchange-for-expatriates\/<\/span><\/a><\/p>\n<h3 class=\"western\">Are Turkish banks safe for expatriates?<\/h3>\n<p class=\"western\">In these days of uncertainty and the economic downfall due to Covid-19, no bank&#8217;s security is sure. Turkish banks are as secure as most places in the world at this time. Your bank offers protection in the event of a financial crash. Your savings are guaranteed by your bank up to 100,000 TL. Expats should be careful about placing all their eggs in one basket.<\/p>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/3&#8243; el_class=&#8221;city-side-bar&#8221;][vc_row_inner el_class=&#8221;sidebar-section-one&#8221;][vc_column_inner][vc_custom_heading text=&#8221;Top Tips&#8221; font_container=&#8221;tag:h4|font_size:24|text_align:left|color:%23ffffff&#8221; google_fonts=&#8221;font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal&#8221;][vc_separator color=&#8221;#ffffff&#8221; type=&#8221;full_width&#8221; thickness=&#8221;1&#8243; up=&#8221;&#8221; down=&#8221;&#8221;][vc_column_text]<\/p>\n<table class=\"table table-condensed sidebar-section-one-table\">\n<tbody>\n<tr>\n<td class=\"number\">01<\/td>\n<td>Respect the culture. Even though Turkey is a liberal country in regards to dress, it is still advisable to dress more modestly. Super short shorts and revealing tops will get you some unwanted attention.<\/td>\n<\/tr>\n<tr>\n<td class=\"number\">02<\/td>\n<td>Bring along a scarf. If you intend on visiting any of the beautiful mosques, you will need to cover your hair. Also, entry will be denied if not dressed respectably. Shorts and short skirts won\u2019t be allowed.<\/td>\n<\/tr>\n<tr>\n<td class=\"number\">03<\/td>\n<td>When you arrive in Istanbul, buy an Istanbul Card which allows you to travel on all buses, ferries, trams, metros and funiculars. It is prepaid and rechargeable and definitely worth it, as all fares are discounted. You can even use it on the iconic Taksim tram.<\/td>\n<\/tr>\n<tr>\n<td class=\"number\">04<\/td>\n<td>If you want to experience authentic Turkish cuisine, then leave the tourist areas and head for the suburbs.<\/td>\n<\/tr>\n<tr>\n<td class=\"number\">05<\/td>\n<td>Refrain from voicing your opinions on Turkish politics and the present President. In Turkey, this can get you into hot water and its best to avoid all political discussions.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=&#8221;container&#8221; padding_top=&#8221;&#8221; padding_bottom=&#8221;&#8221;][vc_column][vc_column_text]<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row type=&#8221;container&#8221; padding_top=&#8221;&#8221; padding_bottom=&#8221;&#8221; el_class=&#8221;three-top-tips&#8221; css=&#8221;.vc_custom_1599875304748{margin-left: 0px !important;border-right-width: 0px !important;padding-right: 0px !important;padding-left: 0px !important;border-right-color: #ffffff !important;}&#8221;][vc_column width=&#8221;2\/3&#8243;][vc_column_text] Banking in Istanbul and Turkey Whilst Ankara is the capital city of Turkey, Istanbul is the financial and business capital of the country. Most export and import businesses operate out of Istanbul. Therefore, there are many banks, domestic [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":92047,"parent":92012,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-istanbul.php","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"footnotes":""},"class_list":["post-92270","page","type-page","status-publish","has-post-thumbnail","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Banking Options for Expats in Istanbul | Expat Info Desk<\/title>\n<meta name=\"description\" content=\"Learn all about the banking options for Expats and Global Nomads in Istanbul. 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