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I will explain in this post everything about Garanti Bank, it’s fees in ₺ € $, swift code, how to open an account and more!
The bank is famous by its many services, in addition to the availability of its branches and ATMs everywhere, with a seamless application of use on the mobile phone.
About Garanti Bank
Garanti Bank is great, and there are a few standout points I’d like to share:
- Extensive reach: Garanti Bank is remarkable for its widespread presence, serving roughly 12 million customers throughout Turkey.
- Abundant branches: As of 2023, they boast 815 domestic and 8 international branches, according to the Turkish Bankers Association.
- Diverse services: They offer a wide range of services, whether it’s for personal banking or business needs, including retail, commercial, and investment banking.
- Long-standing institution: Operating since June 1946, Garanti Bank is a well-established presence in Turkey’s banking sector.
Their long history and broad service spectrum make them seem like a trusted name in the Turkish banking industry.
Services provided by the Turkish Garanti Bank
I’ve found Garanti Bank’s services to be incredibly comprehensive, and these are the ones I find most beneficial:
- Home financing: Their mortgage options are quite helpful for buying property.
- Loans: Easy access to credit loans for various financial needs.
- Online payments: Paying bills online is super convenient.
- International transfers: They make it easy to send money abroad with their Swift Code transfers.
- Domestic transfers: Instant fund transfers within Turkey, both to other banks and Garanti Bank accounts.
- Credit cards: Issuing credit cards tailored to my spending needs.
- Currency services: Their foreign currency exchange is smooth and hassle-free.
- Western Union: This comes in handy for quick international money transfers.
- Cards: The availability of prepaid and debit cards suits different financial strategies.
- Stocks and investments: Investing in the stock exchange is made accessible.
- Insurance: A range of insurance products to secure my assets and health.
- Gold investments: I can invest in gold, which is great for portfolio diversification.
- Safekeeping: Renting safe deposit boxes to keep valuables secure.
- Funds: Mutual funds are available for longer-term investments.
- Taxes and fees: Paying taxes and fees is super straightforward with their system.
Really, Garanti Bank seems to cover practically anything I might need, financially speaking.
Garanti Bank Branches Outside Turkey
I’ve taken a look at Garanti Bank’s international presence, and here’s what stands out:
- Northern Cyprus and Romania: They have multiple branches, which is great for anyone with connections to those areas.
- Malta: The presence of a branch on this island is convenient for those residing there or involved in business.
- Representative offices: The bank has strategic representative offices in Germany and Switzerland, which could be useful for European dealings.
Their cross-border reach suggests a strong network that could be beneficial for international banking needs.
Swift Code Garanti Bank
When sending money internationally to a Garanti Bank account, just remember to use their SWIFT code: TGBATRIS. It ensures the funds reach the right destination without any hiccups.
Money transfer 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.
Download the Garanti Bank app
Managing your banking with Garanti Bank is a breeze. Whether you go to your nearest branch for in-person assistance, use their website here, or just open their mobile app, which supports both English and Turkish. It’s available for download on both Android and iOS platforms.
Garanti Bank’s service fees in TRY, USD $ and EUR €
Looking into Garanti Bank’s service fees, here’s a simplified summary for Electronic Funds Transfers (EFT):
- Regular EFTs from 0 to 1,000 TL: 2.54 TL ($0.09 or €0.08).
- From 1,000.01 to 50,000 TL: 5.10 TL ($0.18 or €0.16).
- Over 50,000.01 TL: 9.79 TL ($0.34 or €0.31).
If you use an ATM for EFT:
- Up to 1,000 TL: 8.93 TL ($0.31 or €0.29).
- From 1,000.01 to 50,000 TL: 17.87 TL ($0.62 or €0.57).
- Over 50,000.01 TL: 128.08 TL ($4.47 or €4.11).
For transfers via Garanti BBVA Mobile/Online:
- Up to 1,000 TL: 2.54 TL ($0.09 or €0.08).
- From 1,000.01 to 50,000 TL: 5.10 TL ($0.18 or €0.16).
- Over 50,000.01 TL: 64.03 TL ($2.23 or €2.05).
Using a branch or Customer Contact Center for EFT:
- Up to 1,000 TL: 12.79 TL ($0.45 or €0.41).
- From 1,000.01 to 50,000 TL: 25.60 TL ($0.89 or €0.82).
- Over 50,000.01 TL: 256.16 TL ($8.93 or €8.20).
Note: After 4 PM, there’s a 50% surcharge on these fees. For credit card transactions, an additional 1% cash advance fee and interest apply. The fees were last updated on January 3 and 5, 2023. Taxes are not included.
These insights into costs can help you choose the best way to transfer money and avoid unexpected charges.
Garanti Bank Expat Banking
For expats needing banking services, Garanti Bank offers specialized branches with English-speaking staff. Just click here to locate these Expat Banking Branches.
You can also shoot any questions about their services or products to [email protected].
Additionally, within Turkey, you can speak to English-speaking agents at the Garanti BBVA Customer Communication Center by calling 444 0 333.
And if you’re abroad, simply dial +90 212 444 0 333 to get in touch with their customer service center.