Turkish Banking Group was established in Cyprus in 1901. Then named Nicosia Savings Box, it was originally aimed at providing financial support for local businesses. It was turned into a savings bank in 1925 and was operating internationally by 1974, opening its first London branch in Haringey. Turkish Bank UK was created as an officially incorporated company in 1992 and now operates as a wholly-owned subsidiary of the Group. There are six London branches; Haringey, Dalston, Edmonton, Palmers Green, Lewisham and Borough High Street.
Turkish Bank is a member of both BACS and Faster Payments.
Turkish Bank Products and Services
Turkish Bank offers a range of deposit accounts, including fixed term, 35, 60 and 90-day notice accounts, a savings account, instant access account and Turkish Lira fixed deposit account. The bank also offers current accounts and a current account switching service.
Turkish Bank UK also offers mortgage products, specifically aimed at helping Turkish nationals living in the UK to purchase a home.
Turkish Bank UK also provides business banking services to commercial organisations and SMEs. These services are tailored to meet the needs of individual businesses, and include:
Business bank accounts
Alongside these products, the bank also offers a range of payment management services including CHAPS, SWIFT, BACS and FasterPayments, plus standing orders and direct debits. Cheque payments can be made in pounds sterling, Euros and US dollars.
Customers looking to bank with Turkish Bank UK who have been resident in the UK for less than two years can apply to be a global banking customer, with specialised products available via two of the London branches. Non-residents can also apply.
Turkish Bank Security
Turkish Bank UK is authorised by The Prudential Regulation Authority and regulated by The Financial Conduct Authority and The Prudential Regulation Authority.