Whether you’re moving to Turkey for work, study, or a long-term stay, opening a local bank account will make your daily life much easier. With a local account, you can receive payments, pay rent and bills, and avoid foreign transaction fees.

Turkey’s banking system is modern and well-connected, combining traditional banking with digital innovation. This guide will walk you through everything you need to know, from the currency and best banks to the required documents and helpful insider tips.

Currency in Turkey

Turkey’s official currency is the Turkish Lira (₺ or TRY).

Although foreign currencies like the Euro or US Dollar are sometimes accepted in tourist areas, the vast majority of transactions are done in Turkish Lira. Having a local account lets you manage your money easily, avoid currency exchange fees, and make payments for local goods and services.

Most Turkish banks are connected to SWIFT and SEPA networks, which means international money transfers are relatively fast and secure. Many also offer accounts in multiple currencies (TRY, EUR, USD) for expats or frequent travelers.

Best Banks in Turkey for Newcomers

Turkey’s banking sector is diverse and competitive, offering a mix of large national banks and efficient digital options. Here are some of the top choices for expats and newcomers in 2026:

Ziraat Bankası

One of Turkey’s oldest and largest state-owned banks, with branches across the country.

• Perk for newcomers: English-speaking staff at major branches and online banking in English.

• Why choose it? Great for those who prefer in-person service and wide accessibility, especially outside big cities.
  
  
  

Garanti BBVA

A modern, internationally connected bank known for its excellent digital banking platform.

• Perk for newcomers: English-language mobile app and customer service.

• Why choose it? Perfect for tech-savvy users or expats needing easy international transfer options.
  
  
  

İşbank (Türkiye İş Bankası)

One of Turkey’s most trusted financial institutions with a strong reputation and extensive network.

• Perk for newcomers: Multilingual support in larger cities and a well-designed online banking system.

• Why choose it? Reliable, efficient, and a good choice for both individuals and small business owners.
  
  
  

Akbank

A leading private bank with a reputation for customer service and innovation.

• Perk for newcomers: English-language mobile banking and debit cards usable worldwide.

• Why choose it? Excellent balance between digital convenience and personal service.
  
  
  

Yapı Kredi Bank

Highly rated for its digital tools and user-friendly app, often preferred by younger customers.

• Perk for newcomers: Quick online account setup and easy integration with foreign cards.

• Why choose it? Ideal for students and expats who prefer managing their finances via smartphone.
  
  
  

Digital Banks: Enpara & Papara

Two of Turkey’s most popular digital-only banking services, known for no-fee accounts and simple apps.

• Perk for newcomers: Instant account opening (with residency), and fully digital management.

• Why choose it? Perfect for those comfortable with online banking and looking to avoid maintenance fees.
  
  
  

Documentation Needed

Opening a bank account in Turkey is straightforward if you have the right paperwork ready. Here’s what most banks will require:

1. Valid Passport – Primary proof of identity.

2. Turkish Tax Identification Number (Vergi Numarası) – You can obtain this at any tax office (vergi dairesi), often within minutes.

3. Proof of Address in Turkey – Rental contract, utility bill, or residence registration (ikametgah).

4. Residence Permit or Visa – Most banks require a valid residence permit for foreign customers, though some allow short-term accounts with a visa.

5. Phone Number in Turkey – Needed for SMS verification and online banking access.

 If you’re not yet a resident, some banks (like Ziraat or İşbank) allow foreigners to open non-resident accounts, though functionality may be limited to basic deposits and withdrawals.

Tips for Opening a Bank Account in Turkey as a Foreigner

• Get your tax number first: It’s free and required for nearly all financial transactions.

• Start with a branch in a major city: Banks in Istanbul, Ankara, and Izmir are more accustomed to serving foreign clients.

• Ask for English-speaking service: Many bank branches, especially in business or tourist districts, have bilingual staff.

• Bring printed copies of documents: Turkish banks still rely on physical paperwork for identity verification.

• Link your Turkish phone number: You’ll need it for online banking and verification codes.

• Compare account fees: Many banks offer free basic accounts, but check for maintenance or transfer fees before committing.
  
  
  

• Enable online banking: Once your account is active, download your bank’s app, most now support English menus and real-time transfers.

• Bank hours: Most branches operate Monday to Friday, 9 AM to 5 PM, closing earlier on Fridays before prayer time.
  
  
  

Final Thoughts

Opening a bank account in Turkey is a vital step toward settling into life in this vibrant, welcoming country. With modern online banking, strong customer support, and multi-currency options, Turkish banks are well-prepared to serve international residents.

Traditional institutions like Ziraat Bank, İşbank, and Garanti BBVA offer stability and widespread access, while digital options like Enpara and Papara make everyday banking effortless and fee-free.

With your tax number, documents, and local phone in hand, you’ll be ready to manage your finances like a local, smoothly, securely, and in true Turkish style.