Turkish bank asks Russian clients for proof of residence permits
The Turkish bank DenizBank has sent out letters to Russian clients requesting documents confirming their right to reside in Turkey, writes RBC.
DenizBank is one of the few banks in Turkey that allowed Russians without residence permits to open accounts. However, since the beginning of the full-scale war in Ukraine, it has tightened conditions for clients several times; for example, it sharply increased the minimum deposit amount and the minimum amount for outgoing SWIFT transfers.
Sergey Ovsyannikov, an intermediary who helps Russians open accounts in Turkish banks, told RBC that DenizBank has not yet explained its reason for requesting the documents. He speculated that DenizBank may close accounts for clients without a Turkish residence permit if their account balance is deemed insufficient.
Another intermediary, Elena Chernyshova, said the bank could be requesting the information to update its database, as many clients have bought real estate in order to obtain citizenship or residence permits. She also believes DenizBank may block accounts where there is no movement of funds or balance.
In mid-January 2024, DenizBank practically stopped accepting new Russian clients. “The rejection rate is 95 percent,” said Ovsyannikov. Chernyshova, in turn, stated that DenizBank has completely stopped accepting account applications from any foreign citizens, not just Russians.
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