İŞ bank is the second largest bank in the Republic of Turkey in terms of assets
The bank provides all standard banking services, as it is one of the leading banks in Turkey in banking transactions.
History of iş bank
After the end of World War I in 1918, Turkey was declared a republic, and Parliament elected Mustafa Kemal Atatürk as the first president of Turkey.
Ataturk realized that the state needed a new national bank to rebuild the Turkish economy after the disaster of the war, and Işbank was established on the 26th of August 1924 at the First Economic Conference in Izmir.
Atatürk appointed Celal Bayar, who later became president of the republic as head of the newly formed bank, the bank started its operations with two branches and 37 employees only under the leadership of Pierre, and its establishment capital was 1 million Turkish liras, of which 250 thousand Turkish liras were paid by Ataturk, and the rest by investors from private sector.
iş bank today
The bank has 1354 branches within the borders of the Republic of Turkey, which gives it one of the largest branch networks in Turkey, after Ziraat Bank which has the top number of branches in Turkey .
Is Bank’s branch network also covers the Turkish Republic of Northern Cyprus, with 16 branches, and there are two branches in Iraq, Kosovo and the United Kingdom.
The bank has one branch in Bahrain, Shanghai, Cairo, Germany, the Netherlands, France, Switzerland and Bulgaria.
A Russian banking company affiliated with the Turkish iş Bank has 11 branches in Russia. There is also a subsidiary in Georgia with subsidiaries in Tbilisi and Batumi.
Services provided by iş Bank
The bank offers a number of distinguished banking services, most notably:
Transfer money inside Turkey for a small fee
Receiving Western Union transfers within Turkey
Making swift code transfers outside Turkey
Making Western Union transfers outside of Turkey
Issuance of credit cards
Issuance of debit and ATM cards
Safe deposit boxes
Investing in mutual funds.
Investing in gold
Read also: Learn about the Turkish Yapı Kredi Bank
• Some iş bank branches outside Turkey
Iş Bank Iraq:
There is a branch of the Turkish iş Bank in Iraq, and the Iraq branch in Erbil provides the following services:
Open a deposit account of 500,000 USD for a year.
More rapid remittances to and from Turkey Bank on the same day.
Iş Bank Erbil also provides cash loans, car loans and housing loans with suitable terms.
iş Bank Cairo:
In 2010, the Turkish ambassador opened a branch of the iş bank in Cairo, to finance joint projects and increase the volume of bilateral trade between Egypt and Turkey.
iş is located in Egypt in Cairo at the following address:
Nile City Towers, 2005 C Cornish El Nil North Tower, 27th Floor Cairo-EGYPT
You can contact the Turkish branch of İş Bank in Egypt at the following numbers: 020224619813 and 020224619810.
Money transfer and EFT in Turkey
Wise is one of the best ways to transfer money in Turkey easily, quickly and safely, as it is characterized by its lower transfer fees than Western Union and banks.
- Wise is completely secure for all types of transfers.
- You can send money outside of Turkey about eight times cheaper than with traditional methods.
- Transfer fees are straightforward, and there are no hidden Fees.
- The conversion process is done easily on the Internet.
- The funds are automatically transferred to the recipient’s bank account.
- Wise has around 750 different currencies to transfer, including the Turkish Lira, US Dollar, Euro, British Pound, and Egyptian Pound.
You can transfer via Wise directly online and easier than Western Union and banks by clicking here.
Western Union transfers in iş bank
Sending money to Turkey thought iş bank
Unless you are a bank customer, you are required to fill out a form with specific details at the branch closest to you.
The form includes the country of the addressee, the name of the recipient and the amount of the transfer, and you must provide your ID.
After money transfer, you must send the MTCN number (Money Transfer Control Number) that you will get from the branch to the recipient, who can get the transfer with this number within minutes.
If you are a bank customer, you can also transfer money via the Internet branch and İsCep app.
Receiving money in Turkey through iş bank
If you are not a bank customer, you can visit one of our branches closest to you and you can get the money transferred by filling out the form indicating the sender, the amount expected to be received, and the Money Transfer Control Number (MTCN)
You must also show an ID card or passport to receive the transfer.
Credit rating of iş Bank 2020
|Foreign Currency Issuer Default Rating||B + / Negative / B|
|Local Currency Issuer Default Ra ting||B + / Stable / B|
|National Long Term Rating||A + (tur) / Stable|
|Viability Rating||b +|
|Support Rating Floor||B-|
|Senior Unsecured Notes||B + / B|
|Subordinated Debt Notes||B –|
Long-Term / Outlook (if exists) / Short-term
|Foreign Currency Issuer Credit Rating||B + / Negative / B|
|Local Currency Issuer Credit Rating||B + / Negative / B|
|Turkish National Scale||trA + / trA-1|
Long-term / Outlook (if exists) / Short-term
|Bank Deposit Foreign Currency||B3 / Negative / Not-Prime|
|Bank Deposit Local Currency||B3 / Negative / Not-Prime|
|Senior Unsecured Debt Rating||B3 / Negative|
|Subordinated Debt Rating||Caa2 / Caa3 (HYB)|
Long-term / Outlook (if exists) / Short-term
Swift Code of iş Bank
To make international transfers to an account in İş bank, you can use the SWIFT bank code, which is: ISBKTRIS
You can also use the CHIPS UID for transfers from the United States, which is: 003546.
Download iş bank application (işCep)
You can perform all your banking transactions by visiting the nearest branch of the iş bank, and you can also visit the bank’s website by clicking here , and you can also download the application, which supports English and Turkish languages, for Android and İOS system.
What are the services provided by iş Bank?
the Bank offers many useful services, the mostthe important of which are savings accounts, debit and credit cards, in addition to investing in gold, and receiving Western Union transfers from outside Turkey.
Can a Western Union transfer be made from iş Turkish Bank?
Yes, you can do a Western Union transfer easily through the bank app or by visiting the nearest branch to you.
How do I receive a Western Union transfer from Turkish Iş Bank?
Go to the nearest bank branch with the MTCN number and proof of identity for you, and you can get the transfer in minutes you can also use the internet branch.