The Leisure Property Developer...
Agent Login
Welcomes Turkey

Banks in Turkey

The Banks in Turkey are modern and well established as they all are legally obliged to the Banking Association of Turkey (Turkiye Bankalar Birligi ), to ensure that banks comply with the regulations. Turkish banks offer a modern banking service with advanced financial products. The quality of service offered by banks in Turkey is of a high standard, as in Europe.  

If you are interested in buying property in Turkey, during your inspection Trip of your dream home, it is advisable to open a bank account with a Turkish Bank.  This can save you some valuable time, particularly when you have lots of legal matters to attend to during the purchase. It avoids you having to change money every time you come, and means that you can pay community charges, local rates, Turkish property taxes and bills directly from your Turkish bank account, which is much cheaper than doing so from your bank in your home country. If you rent your  Turkish property out while you aren't in Turkey, your tenants can pay their rent directly into your Turkish bank account, which again avoids having to pay commission. 

How to Choose a Turkish Bank

While choosing the bank in Turkey , you should consider if the bank haves a branch or an affiliation with any bank in your own country. If it does, are there any benefits to having your account with that bank comparing to other banks in Turkey?  Also to avoid paying more, you should make sure that the bank you choose in Turkey has a good online banking service, if you spend a long time away from your property in Turkey,  so that while you are at home you can pay all bills easily. Many banks in Turkey provide very good internet banking services wiith their English Language web sites .The final consideration on which bank you should choose, is that you need to make the decision whether you are going to require a Mortgage in Turkey or not. If you are taking a Mortgage to buy a property in Turkey, then it is probably a requirement that you also open an account with that Bank.

Many Turkey banks have ATMs  enabling you to draw foreign currency while you stay in Turkey. Credit cards and debit cards are widely accepted in tourist areas.  Exchange offices are widely available in tourist areas and are often open until midnight. In case you need to go to any branch office of your Turkish bank, English is widely spoken in Turkish banks by the bank's staff  who will be able to help you with your requirements.

Most banks in Turkey provide excellent internet banking services in English. Please ask your bank to provide you with the necessary authorization password that you will need for internet banking. 

How to Open a Bank Account in Turkey :

All foreigners are able to open bank accounts in Turkey on their name. What all holiday home buyers in Turkey need to do is  just to have a tax number from a local tax office and then give it to the bank of your choice, and a fotocopy of your passport. That's all !!

The list of Important banks in Turkey:

2006 – 2009 © Model Invest Ltd. All rights reserved
                           created by Model Invest IT department

Agent Login