So, why would you want to know how to open a bank account in Turkey as a foreigner? Well firstly, having a bank account has become one of the necessities to meet the demands of modern life.

Secondly, when it comes to managing our financials, opening a bank account has become an essential part of our daily life regardless of our location or profession in the world. Whether you are a student, an employee, business person or tourist, having a bank account in Turkey opens the door to many privileges.

Thirdly, when you are a foreigner in Turkey, you may have some concerns regarding foreign regulations that you might be unaware of and the language barrier that can prove to be a problem when dealing with these formalities.

So, If you are looking to purchase property in Turkey or move to Turkey, we strongly recommend you open a bank account. Examples of the benefits of having a Turkish bank account are:

· Enables you to pay and receive due fees such as study installments or rent.

· Paying household bills.

· Transferring money smoothly within the country as well as outside of it.

· Grants you access to online shopping and the use of e-commerce websites.

· Conducting currency exchange.

· Provides access and ability to conduct all main bank services through smartphone applications from the comfort of your home and at any time without having to visit your bank.

· Facilitates easy payment of due tax. (As in order to acquire a residence permit, you will be required to get a tax identification number, application to the tax office to pay Turkish tax as you will be dealing with Turkish lira, not your home currency.) 

· Turkey has a total of 53 banks, 34 of which operate as deposit banks, 13 are development and investment banks, 3 are state-owned and 9 are private banks. There are also many international banks offering different types of services satisfying different ethics and religious doctrines. Whether you have a property in Turkey or not, having a bank account in Turkey can only work to your advantage.

· So how do you know which one to go for and which ones are best for foreign investors and expats?