Nowadays, we usually deal with our financial affairs through online banking. We can easily track the status of our currency and the stock market. But when you go to a foreign country, you may be a little worried about encountering different banks and different currencies. There is no need to be afraid because quite crowded and lively cities, especially Istanbul, also retain these characteristics in an economic sense. While exploring Istanbul, you may encounter quite a lot of banks and currency exchange offices. So, it will be effortless for you to apply to these places without having a question mark about money, banking, and your currency.
Banking in Turkey
It is quite effortless to get to the branches and ATMs of Turkish banks in Istanbul. Therefore, banking in our country, and performing transactions related to a credit card and our currency will not cause concern for you. The Turkish banking system has developed considerably, especially over the past ten years. It has quickly become responsive to the financial needs of foreigners and Turkish citizens who have connections with Turkey. As a foreigner, foreign citizen, or tourist, the advantages offered by Turkish banks to you include paying utility bills, receiving your pensions, and having favorable interest rates.
As popular banks for foreigners, Yapıkredi, Işbank of Turkey, HSBC, Denizbank, Garanti BBVA, Akbank, Ziraat Bank and TEB can be given as examples. You have come to Turkey and want to live here permanently; that is, you will need a bank account. In these cases, it is also possible to open a bank account in Turkey by following some steps and keeping the necessary documents. But some Turkish banks open bank accounts only for foreigners who will stay in the country permanently. The documents required to open your bank account consist of your passport, Turkish tax identification number, and a document proving your residence.
Foreign Banks in Istanbul
There are many banks in Turkey, and most of these banks are foreign-owned banks. For this reason, you may want to use your bank in your own country to withdraw your cash, deposit money, and make transactions with your credit card. Thanks to these banks and ATMs, which you often encounter while you discover Istanbul, you can easily continue your trips and make purchases. Or, if the bank to which your credit card is linked has an agreement with another bank, you can make withdrawals without commission. Let's look at the banks with foreign capital located in Turkey.
Using Credit Cards
When discovering Istanbul, you may not want to have a lot of cash with you, so credit cards are always the saviors. It may be possible for you to continue using the credit cards you already use abroad when you come to Turkey. But here, you need to think about whether the bank of the credit card you have will be valid in Turkey. Therefore, one of the best methods to find out this may be to contact your bank and find out if they have branches in Turkey.
But it is essential to know that before coming to Turkey, you should find out if your credit card is available for use abroad. Because it will be much more challenging to understand this after arriving in the country and trying to fix it. If you are wondering whether it is safe to use your card internationally, it can be said that it is perfectly safe, except for copying your card. You should also pay attention to security and check your credit card movements when withdrawing money from banks located in Turkey or when shopping with your credit card.
Especially checking your bank cards and credit cards you open for international shopping is very important because you are in a country you don't know. However, situations such as copying and stealing your card may also occur in your own country, and it is crucial to be cautious at all times. This way, you can secure your money and spend time discovering Istanbul without having too much cash with you.
If the branch of the bank where your credit card is linked is located in Istanbul, it is also possible for you to conveniently make withdrawals and deposits. But before performing these operations, it may also be important to check whether a commission is charged when withdrawing money directly from your currency. For more detailed information on this issue, it is useful to find out all the details by contacting the relevant bank.
On the other hand, performing your banking transactions online is a method that will make your business ultimately easier. For example, you can convert your currency directly to the Turkish Lira via online banking. But it is very important that you stay in touch with your bank and be informed about the whole process.
Frequently Asked Question
Can foreigners get a credit card in Turkey?
The only way to use a credit card as a foreigner in Turkey is to load a deposit on your bank account.
Are credit cards widely accepted in Istanbul?
Yes, credit cards are accepted all around the city.
Is a credit card available in Turkey?
Yes, but as a foreigner, you can only use them if you have a Turkish bank account and have loaded the amount as a deposit.
Is it better to use cash or card in Turkey?
Credit cards are easier to use and are applicable all around Istanbul.
Can I use dollars in Turkey?
Yes, you can use dollars and euros in many tourist places as they usually accept foreign currencies.