1000s of immediate openings! Teaching positions soar in China, Colombia, Korea... more info 1-888-225-2480
Banking in Turkey
Costs in Turkey
When working in Turkey, there are a few banks that one may encounter frequently, these include: Yap? Kredi Bankas?-Koçbank, Türikiye ??? Bankas? (Isbank), Akbank and Garanti Bankas?. No matter what part of Turkey you are in, one of these banks should be present. Many sources have suggested that Garanti Bankas? makes a strong effort to offer English-speaking staff at most branches. There are foreign banks in Turkey as well, including: HSBC, Deutsche Bank, Citibank, and J.P. Morgan Chase.
Banks will require that you have a residency permit before you can open an account in Turkish lira, but some may make exceptions for customers making larger investments. If you don´t have a residency permit, many banks will be happy to open you an account in Euros, British pounds or US dollars. The disadvantage to foreign currency accounts is that they pay less interest. In order to open an account one will first need to register for a Tax Number. Upon completion of the required application form and the presentation of one’s tax number, an account may be issued.
A current account is one that allows people to store and transfer money, as well as complete online banking so that you can arrange automatic bill payment. A savings account is another option, but please notes that these accounts typically need to remain open for a minimum of one month and that all interest earned is subject to a 15% withholding tax which should be included in the interest rate quoted by your bank.
Most banks operate between 9:00am and 5:00pm, and during these hours you will have full access to all bank services. They typically remain open during lunch hours, but they have been known to have longer wait times during this time of day.
Expected Apartment Costs
As with anywhere in the world, various factors influence the cost of housing in Turkey, including city, neighborhood, and size. Many employers will pay for housing or provide a stipend which will help any ESL teacher’s saving potential. Although, if this benefit is not provided one should consider that as a foreigner it can be extremely difficult to find accommodation in a specific location that is affordable, safe and close to your place of employment. If the school does not offer housing assistance one should ensure to do thorough research on the location in which they will be living. Cost of rent in major cities within Turkey ranges from 400 TRY – 1,300 TRY per month.
Food Costs
The following table provides ESL teachers with the approximate costs of food in Turkey. As a whole, it is cheaper to eat Turkish food rather than to purchase American-style food or to eat at American-style restaurants.
100% Safe and Secure
