Opening a Bank Account: Licensed Banks and Branch Practices

This guide does not repeat the basic steps in the bank section of the first-week checklist (appointment vs. queue, university referrals); it goes deeper into bank types, the licensed-bank list, and branch/foreign-currency practices. For what to do in your first week, check that guide first.

Licensed banks

The TRNC Central Bank's bank branches list names 23 licensed banks (list). The list groups them as: the Central Bank itself, branches of Turkish (T.C.) banks operating in North Cyprus, the public deposit bank (Vakıflar), and privately owned local banks. The banks below are the licensed entities on that list (alphabetical); the full branch/phone breakdown is on the Central Bank's own page and downloadable as XML — this list makes no claim of completeness beyond what is on the Central Bank's licensed list:

Akfinans Bank, Albank, Asbank, Bankmare, Creditwest Bank, Denizbank, Highrise Bank, Kıbrıs İktisat Bankası, Kıbrıs Kapitalbank, Kıbrıs Türk Kooperatif Merkez Bankası, Cyprus Vakiflar Bank, Limasol Turkish Cooperative Bank, Nova Bank, Şekerbank (Cyprus), T. Garanti Bankası, T. Halk Bankası, T.C. Ziraat Bankası, Turk Bank, Türkiye Ekonomi Bankası (TEB), Türkiye İş Bankası, Universal Bank, Yakın Doğu Bank.

Some of these are the North Cyprus branch of a Turkish bank (Ziraat, Halk Bankası, TEB, Denizbank, Garanti, İş Bankası); others are locally capitalised. Branch count and geographic coverage vary by bank: Denizbank, for example, has a single branch in North Cyprus, in Kyrenia, while Bankmare has only two branches (Nicosia and Kyrenia); banks such as Vakıflar and the Cooperative Central Bank have a wider branch network across Nicosia, Kyrenia, Famagusta, and Güzelyurt.

Foreign-currency accounts and account types

Most banks do not publish account types or currency options in detail on their own product pages. The one confirmed concrete example is Limasol Turkish Cooperative Bank's personal banking page: it offers current accounts, term deposits (1/3/6-month or 1-year terms), and cheque accounts, and accounts can be opened in GBP, USD, and EUR alongside Lira.

Whether other banks (Kıbrıs İktisat Bankası, Turk Bank, Vakıflar Bank, Ziraat Bank Cyprus) offer foreign-currency accounts could not be confirmed while preparing this guide. If rent is quoted in sterling and you want a foreign-currency account, ask the bank you are interested in directly.

Turk Bank's card products category lists a prepaid card option alongside its credit cards; this can be an alternative for newcomers who do not yet have local credit history. A prepaid card option was not confirmed at other banks while preparing this guide.

Documents required to open an account

None of the banks checked (Limasol, Kıbrıs İktisat Bankası, Turk Bank, Vakıflar, Ziraat Cyprus) publish a standard document list for foreign nationals or students on their official pages. This is a confirmed gap in the source review — this guide does not make a generic claim like "ID and proof of address are enough," because no official North Cyprus bank source confirms it. Ask the bank directly what documents will be required when you book an appointment or walk in.

Branch contact details

The following head-office/general-directorate phone numbers come from the TRNC Central Bank's bank branches list (alphabetical):

• Akfinans Bank — Head office/Nicosia 0392 228 7020 / 0392 227 8390.
• Albank — Head office/central 0392 444 5252 / 0392 228 5510.
• Asbank — Nicosia central 0392 224 0963.
• Bankmare — Nicosia 0392 228 5286 (only 2 branches: Nicosia, Kyrenia).
• Creditwest Bank — Head office/central 0392 678 0000 / 0392 444 9378.
• Denizbank — North Cyprus Kyrenia branch (only branch) 0392 650 99 50/60.
• Highrise Bank — Head office/central 0392 444 1982.
• Kıbrıs İktisat Bankası — Nicosia central/head office 0392 600 4000; phone banking +90 392 444 4444.
• Kıbrıs Kapitalbank — Head office 0392 444 2265.
• Kıbrıs Türk Kooperatif Merkez Bankası — Yenişehir-Nicosia central 0392 622 1010.
• Cyprus Vakiflar Bank — Head office/Nicosia central 0392 228 3212.
• Limasol Turkish Cooperative Bank — Nicosia central/head office 0090 392 227 46 96, general line 444 58 52; address Atatürk Caddesi, Yenişehir-Nicosia.
• Nova Bank — Head office 0392 673 1111.
• Şekerbank (Cyprus) — Head office/Nicosia 0392 228 0677 / 0392 228 5587.
• T. Garanti Bankası — Nicosia 0392 600 5300.
• T. Halk Bankası — Nicosia 0392 612 2900; North Cyprus country directorate 0392 612 28 00.
• T.C. Ziraat Bankası — Nicosia 0392 224 05 22.
• Turk Bank — Head office/Nicosia 0392 600 3333; email mim@turkbankasi.com (site).
• Türkiye Ekonomi Bankası (TEB) — Nicosia 0392 229 20 40.
• Türkiye İş Bankası — North Cyprus country directorate 0392 228 3606; Nicosia 0392 225 2808.
• Universal Bank — Head office/Nicosia 0392 600 1300-1.
• Yakın Doğu Bank — Head office/Nicosia central 0392 228 38 34.

The full branch list for Kyrenia, Famagusta, Güzelyurt, and İskele, plus every other branch phone number, is on the Central Bank's bank branches page as a table (bank code, branch code, phone, fax, address, city) and downloadable as XML. For campus-adjacent university branches, see the bank section of the first-week checklist.

Numbers and branch details can change; confirm the current details on the bank's own site or the Central Bank's bank-branches list.

Fees and balance requirements

No monetary detail — minimum balance, card/ATM fees, deposit requirements — was found on any bank's official page, so none is given in this guide. Ask your branch, or check the bank's own fee schedule, for current figures.