Student Bank Account

Most of the time, students who get on with higher education go away and establish their own lives away from the safe refuge of their families. Once the students try to stay up on their feet, the most important thing for their newly established lives becomes money and its management. The same goes for international students too as they also try to be on their own in a foreign country. For monetary situations, students can find grants and scholarships, but managing these still fell on their own shoulders. At least now there are multiple banks to help international students in their money management chores in their daily lives in a foreign country.

published: 12 July 2022 / updated: 7 March 2024

For an international student, having a bank account that is valid in the country of arrival is mandatory. Fortunately, there are many banks in Istanbul with ties to international areas for easy service to international students. In these banks, students can open an account for themselves, receive cards to use for that account, and benefit from many opportunities the banks provide like changing currency and sending and receiving different types of money in a variety of languages. With a small commission amount, the banks enable the international student to go between currencies to use in their country of arrival. Even though it is suggested that the students should have their money exchanged in foreign exchange offices, mobile or internet banking services save a lot of time for the students with a commission amount.

With a bank account in Turkey, students can use ATMs that can be found on almost every street that give services in a variety of languages and have no problem spending money by spending Turkish Lira. All a student needs to do to open a bank account is to go to a bank with their passport, residence permit, proof of address, and proof of signature. By providing these documents, students can open a bank account and begin operating that account from their phones in a few hours.

Highlights

Many choices in choosing a bank.
ATMs that give service in a variety of languages.
Money management through bank accounts.
Secure banking services for grants and scholarships.
Easy ways of exchanging foreign currency into Turkish Lira.

Even banking services are student-friendly in Istanbul!

International students need a more comprehensive approach to money management probably more than most people getting their higher education. They are not only trying to maintain a life in a foreign country but also spend foreign currency and need to keep a track of their money. For international students, banking services become essential, especially in today’s world in which managing bank accounts is easier than ever. There are many banks in Istanbul with ties and arrangements with other international banks, helping the students as best as they can. Every international student is required to open a bank account when they arrived in Turkey to operate their money.

Through their banks, students can have credit cards to use in their daily expenditures, operate their foreign currency, and exchange their main money for Turkish Lira. Banks cut a commission amount from exchange services, but they also provide an easier way of exchanging currency as going to foreign exchange offices may be burdensome even though these offices operate more correctly and cheaply. Students can apply to a bank in order to open their bank accounts by providing the bank with their passport, residence permit, proof of address, and proof of signature. After this process, they can use ATMs in their various languages and use telephone and internet banking opportunities

Frequently Asked Question

Why do I need to open a local bank account as an international student?

Local bank accounts help the students to manage their money in a foreign currency more correctly and offer currency exchange services with commission amounts.

Can I use ATMs in Istanbul with foreign currency?

Although banks cut a commission amount, you can get Turkish Liras from ATMs with the cards your local bank gives you.

How can I open a local bank in Istanbul?

All you need to do to open a local bank account in Turkey is to provide the bank with the documents like your passport, residence permit, proof of address, and proof of signature.