Turkish Banks Tighten Non-Resident Account Opening Requirements in 2025
Several major Turkish banks have updated their account opening procedures for foreign nationals, introducing stricter source-of-funds documentation and enhanced KYC checks. Here is what has changed and which banks remain accessible for newly arrived expats.
A number of Turkey's largest retail banks have revised their account-opening procedures for foreign nationals following updated Banking Regulation and Supervision Agency (BDDK) guidance issued in late 2024 on anti-money laundering and counter-terrorism financing compliance for non-resident and newly resident customers.
The most significant change affects the documentation required to demonstrate source of funds. Previously, most banks accepted a simple income declaration or employment contract alongside a passport and residence permit. As of early 2025, several institutions — including Garanti BBVA, Akbank, and İş Bankası — now require at least one of the following: three months of bank statements from a foreign account, a formal employment contract specifying salary in a verifiable currency, proof of pension or retirement income, or a letter from a Turkish employer.
Ziraat Bankası, the state-owned bank, remains the most accessible option for newly arrived expats and continues to accept account applications from foreign nationals presenting a valid residence permit and Turkish tax number, without the enhanced source-of-funds documentation. However, Ziraat's international transfer limits have been reduced for new accounts during a 90-day observation period.
DenizBank and QNB Finansbank continue to offer relatively streamlined onboarding for EU and UK nationals, and both maintain English-language service counters at select Istanbul and Antalya branches.
For expats who have not yet obtained a residence permit, Papara and IBAN Turkey continue to offer alternative payment accounts that do not require a formal bank license or residence permit, though these carry transaction limits and are not full banking alternatives.
Our guide to the best banks for expats in Turkey has been updated to reflect these changes, including a comparison table of current requirements by institution.