Out of ten applications for opening an account, only one was approved. Having a residence permit or registration in Turkey does not help.
The Turkish bank DenizBank, which is one of the largest credit institutions in the country, has almost stopped opening accounts for Russian citizens since the beginning of 2024. Russian RBC writes about this in connection with two intermediaries that help to Russians to get cards from Turkish banks.
“Out of ten applications for opening an account, only one receives approval. It is impossible to open an account even with a residence permit and registration in Turkey,” one of the mediators described the situation. He added that DenizBank is now making exceptions only for clients with large deposits of $100 thousand and above.
The problem was confirmed by the managing partner of Lenar Wealth Management, Lenar Rakhmanov, who works in Istanbul. According to him, the possibility of a Russian to open an account is influenced by the “calibre of the client” and personal agreements with a particular bank branch.
As you know, at the end of last year, US President Joe Biden signed a decree introducing restrictions against foreign banks for helping Russian individuals and legal entities to avoid sanctions and for helping with supplies for Russia’s defense industry. After that, some foreign credit institutions tightened the conditions for serving Russians, and Russian citizens also began to have difficulties in making payments and transfers.
In the past, the US Treasury imposed sanctions on almost 60 people from other countries that allowed the Russian Federation to buy technology and equipment from other countries. Among them are also Turkish citizens.
It has also been reported that major Chinese banks are refusing to finance transactions related to Russia.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.