Required Documents, Bank Evaluation Criteria, POS Application, and Bank Selection for Startups

A business bank account is essential for receiving payments, issuing invoices and managing financial operations.
This guide explains how to open a business bank account in Turkey in 2025.

1) Who Can Open a Business Bank Account?

• Sole proprietorships

• Limited companies

• Joint-stock companies

• Partnerships

Using a personal account for business transactions is legal but not recommended, as it creates tax and audit risks.

2) Required Documents

For Sole Proprietorships

• Tax certificate

• Signature declaration

• ID

• Address proof

• Contact information

For Limited Companies

• Tax certificate

• Trade registry gazette

• Signature circular

• Articles of association

• Partner IDs

• Authorization document

Banks may additionally request:

• Website

• Service description

• Sample invoices

3) Business Account Opening Process

Step 1: Choose the bank

Step 2: Submit documents

Step 3: Bank conducts risk assessment

Step 4: Account is opened

Step 5: Online banking is activated

Most accounts are opened same day.

4) POS / Virtual POS Application

Requires additional documentation:

• Tax certificate

• Signature circular

• Trade registry gazette

• Website information

• Return/refund policy

• SSL certificate

Average Commission Rates (2025)

• Blocked POS: 0.99% – 2.10%

• Unblocked POS: 3.20% – 5.00%

• Installments: +1–3%

Digital services like hosting and software are considered higher risk, so banks may charge higher commissions.

Recommended for your industry:

• PayTR

• İyzico

• Garanti Virtual POS

5) Best Banks for Digital Businesses (2025)

Garanti BBVA

• Fast virtual POS approval

• Friendly to software & hosting companies

İş Bankası

• Strong corporate products

Ziraat Bankası

• Cheaper SME packages

Third-Party POS Providers (PayTR / Iyzico)

• Easiest and fastest approval

• Better fraud management

6) What Banks Evaluate Before Approval

• Sector risk level

• Website existence

• Transaction volume expectation

• Tax compliance

• Owner credit history

• POS chargeback risk

7) Common Mistakes

• Using personal accounts for business

• Accepting payments before issuing invoices

• Missing refund policy on the website

• Hiding product/service risk details

• Delayed financial reporting

8) Conclusion

A business account and POS system are essential for financial credibility and operational stability.
For digital businesses, the ideal approach is:

• Business account → Traditional bank

• Virtual POS → PayTR / Iyzico

This combination provides low cost, fast approval and strong risk protection.