BDDK, the Banking Regulation and Supervision Agency, licenses and supervises banks, leasing, factoring, financing and savings finance companies and card issuers under Law No. 5411, Law No. 6361 and Law No. 5464. Payment and electronic money institutions fall under the Central Bank and crypto platforms under the Capital Markets Board; BDDK awards no compensation. Complain to the bank in writing first, then via BDDK's electronic complaint system on e-Devlet. For money claims in 2026, use a consumer arbitration committee below 186,000 Turkish Lira, or mediation and the consumer court above it.
Most foreigners never think about the Bankacılık Düzenleme ve Denetleme Kurumu, the Banking Regulation and Supervision Agency known as BDDK, until a Turkish bank blocks a card, asks where a transfer came from or closes an account with little explanation. The practical question then is whether BDDK decides the dispute, and if not, who does. Three recent changes matter. Since 1 January 2026, consumer disputes worth less than 186,000 Turkish Lira must go to a consumer arbitration committee. Since 25 December 2025, banks may suspend an account for up to 48 hours in listed fraud cases under Article 128/A of the Code of Criminal Procedure, Law No. 5271. And on 7 October 2026 the identification thresholds in the anti money laundering regulation were doubled, to 370,000 Turkish Lira for occasional transactions and 30,000 Turkish Lira for wire transfers. This guide explains what BDDK supervises under the Banking Law, Law No. 5411, what belongs to other authorities, how to complain about a bank in the right order, and how banks and finance companies are licensed.
BDDK is a public legal entity with administrative and financial autonomy, established by Article 82 of Law No. 5411 and headquartered in Istanbul. Its decision making body is the Banking Regulation and Supervision Board, which has seven members under Article 83. Article 82 provides that BDDK exercises its powers independently, that its decisions are not reviewed for expediency and that no authority may instruct it. That does not put it beyond the courts: under Article 105, administrative sanctions imposed by the Board can be challenged before the competent administrative court, and such cases are treated as priority matters.
Article 1 of Law No. 5411 states its aims: confidence and stability in financial markets, an effective credit system and protection of depositors. Under Article 93, BDDK regulates and supervises the establishment, activities, management, mergers and liquidation of banks, financial holding companies and the other institutions placed under it, and must act against practices that endanger depositors or the sound operation of banks. In practice it writes the regulations banks follow, inspects them under Article 95, grants and revokes licences and imposes sanctions. It supervises institutions; it is not a court for individual disputes, which is why the complaint routes in section 6 matter.
Article 2 of Law No. 5411 covers deposit banks, participation banks (which collect funds through special current and participation accounts rather than interest bearing deposits), development and investment banks, branches of foreign banks, financial holding companies and the two banking associations. Other provisions add:
BDDK publishes lists of every authorised bank and finance, leasing, factoring, asset management and card institution on its website, and checking that list is the simplest way to confirm a lender is licensed. Under Article 60, only credit institutions and those authorised by special law may accept deposits as a business, and Article 150 punishes unauthorised banking or deposit taking with three to five years' imprisonment and a judicial fine of up to 5,000 days.
Many complaints sent to BDDK concern matters it does not regulate. The division of authority in 2026 is:
| Matter | Competent Authority and Legal Basis |
|---|---|
| Banks, participation banks, financial holding companies | BDDK, Law No. 5411 |
| Leasing, factoring, financing and savings finance companies | BDDK, Law No. 6361 |
| Card systems and card issuers | BDDK, Article 4 of Law No. 5464 |
| Payment and electronic money institutions | Central Bank of the Republic of Türkiye, Articles 14 and 18 of Law No. 6493 |
| Fees banks charge to consumers | Central Bank, Communiqué No. 2020/7 |
| Capital markets, brokers, investment funds | Capital Markets Board (SPK), Law No. 6362 |
| Crypto platforms and custodians | Capital Markets Board, Articles 35/B and 35/C of Law No. 6362, added by Law No. 7518 |
| Anti money laundering compliance | MASAK, the Financial Crimes Investigation Board, Law No. 5549 |
| Insurance and private pensions | Insurance and Private Pension Regulation and Supervision Agency (SEDDK) |
| Deposit insurance and failed banks | Savings Deposit Insurance Fund (TMSF), Article 63 of Law No. 5411 |
| Individual money claims against a bank | Consumer arbitration committees and courts, Law No. 6502 and Law No. 6102 |
Two points are often missed. Payment and electronic money institutions, including many transfer apps, are licensed by the Central Bank under Law No. 6493, not by BDDK. And crypto platforms belong to the Capital Markets Board; BDDK only approves banks that wish to offer crypto custody and gives its opinion on rules that impose duties on banks (Articles 35/B and 35/C of Law No. 6362). Our article on current cryptocurrency laws in Türkiye covers that regime.
Article 76 of Law No. 5411 prohibits banks from opening any account or providing banking services to customers who do not document their identity and tax number, so a foreigner needs a Turkish tax number, vergi kimlik numarası, first; see our page on the tax identification number for foreigners. Under Article 6 of the Regulation on Measures for the Prevention of Laundering Proceeds of Crime and Financing of Terrorism, a foreigner's identity is verified on a passport, a residence permit or another document approved by the Ministry of Treasury and Finance, and the address through a residence document, a utility bill from the last three months or a public document. The law does not itself require a residence permit, but banks add their own risk policies, so practice differs.
Identification is required whenever a continuing relationship begins, whatever the amount, and for occasional transactions at or above the thresholds, which since 7 October 2026 are 370,000 Turkish Lira, counting linked transactions together, and 30,000 Turkish Lira for wire transfers. The bank must also record the purpose and nature of the relationship (Article 5). That is why a foreign client is asked what the account is for, where the money will come from and what monthly volume to expect; transactions that later depart from that profile will be flagged. Our guide on how foreigners can open a bank account in Türkiye lists the documents banks ask for in practice.
Under Article 22 of the Regulation on Measures, a bank that cannot identify a customer or learn the purpose of the relationship must not establish it or carry out the transaction, and where later doubts cannot be resolved by fresh verification the relationship must end. The bank must also consider whether a suspicious transaction report is due. A request for a rental contract, title deed, payslips or a foreign bank statement is therefore usually the bank protecting itself, and a full, prompt answer is the fastest way back to normal use of the account. The bank may not tell you everything: Article 4 of the Law on the Prevention of Laundering Proceeds of Crime, Law No. 5549, forbids disclosing to anyone, including the customer, that a suspicious transaction report was filed. MASAK's own powers are explained in our MASAK compliance guide.
A closure ends the contract, but the balance is still yours: ask in writing for a statement of the closing balance and transfer to another account in your name. Article 76 obliges banks to give a certified copy of loan agreements and, on request, a copy of every document on your other transactions. If the account instead shows bloke, a block, the cause may be a MASAK suspension, a criminal seizure, an enforcement or tax attachment or a 48 hour suspension under Article 128/A of Law No. 5271, each with its own remedy; see our article on a bank account frozen in Türkiye.
Under Article 73 of Law No. 5411, data created after the banking relationship begins is a customer secret and, outside the statutory exceptions, may not be shared with third parties in Türkiye or abroad without the customer's request or instruction, even with explicit consent under the data protection law; breaches carry one to three years' imprisonment under Article 159. Under Article 62, deposits not claimed for ten years from the holder's last transaction or instruction become time barred and, if the holder cannot be reached, pass to the Savings Deposit Insurance Fund after an announcement. Foreigners who left money in Türkiye, and heirs of foreign account holders, should act well before then.
The order of steps matters, because each body expects to see that the previous one was tried.
Article 76 requires banks to run a system that answers customer questions. Use it in writing, through the complaint channel, internet banking or a letter to the head office, stating the account, the transaction and what you want by when, and keep the reference number and reply. In serious disputes, a formal notice through a notary, ihtarname, fixes the dates.
BDDK's electronic complaint system, reached through the e-Devlet government portal, covers banks and the other financial institutions it supervises. BDDK's own guidance says every complaint is forwarded to the bank and assessed with the bank's reply, and that complaints are resolved faster if they go to the bank first. BDDK can check whether banking rules were followed and use its supervisory powers, but it does not decide money claims or award compensation. Insurance complaints belong to SEDDK.
The Banks Association of Türkiye runs an Individual Customer Arbitration Committee, Bireysel Müşteri Hakem Heyeti, and the Participation Banks Association runs its own. Applications are made online or through e-Devlet with the bank's reply attached, and the committee's role ends once the matter goes to court or a consumer arbitration committee, so choose deliberately and check its current rules first.
A banking contract with an individual acting for private purposes is a consumer transaction under Article 3 of the Consumer Protection Law, Law No. 6502. For applications in 2026, disputes worth less than 186,000 Turkish Lira must go to the provincial or district consumer arbitration committee, tüketici hakem heyeti, where you live or where the transaction took place (Article 68 and the communiqué of 23 December 2025). Its decision binds both sides, and either may object to the consumer court within two weeks of service (Article 70). Above the threshold, the consumer court decides, but mediation must be tried first under Article 73/A. Our guide to applying to the consumer arbitration committee covers forms and evidence. Company accounts differ: disputes under the rules on banks and financial institutions are commercial cases under Article 4 of the Turkish Commercial Code, Law No. 6102, and Article 5/A requires mediation before a money claim.
| Route | When It Fits |
|---|---|
| Written complaint to the bank | Always first; it creates the record others ask for |
| BDDK electronic complaint | Breach of banking rules or no answer; supervisory action, no compensation |
| Banks association committee | Individual customer dispute after the bank's reply |
| Consumer arbitration committee | Consumer claims below 186,000 Turkish Lira in 2026; mandatory |
| Mediation, then consumer court | Consumer claims at or above that figure |
| Mediation, then commercial court | Money claims on company accounts |
| Criminal complaint | Fraud, card misuse or account takeover |
Bank fees are a Central Bank matter. Its Communiqué No. 2020/7 lists the products and services for which banks, consumer lenders and card issuers may charge, and Article 6 bars any fee outside that list, apart from third party costs passed on unchanged. Article 5 requires readable contracts in at least twelve point type, a copy for the customer and the customer's consent for each product carrying a fee. A recurring fee you never agreed to is exactly what the routes in section 6 are for. Card fraud often needs a criminal complaint as well: Article 245 of the Turkish Penal Code, Law No. 5237, punishes misuse of bank and credit cards, and it is one of the offences for which the receiving account can be suspended for 48 hours under Article 128/A.
Establishing a bank, or opening a foreign bank's first branch, requires a decision of at least five Board members (Article 6 of Law No. 5411), notified within three months of a complete application. Under Article 7 the bank must be a joint stock company with registered shares issued for cash, qualified founders and directors, a transparent ownership structure, paid in capital of at least 30 million Turkish Lira (two thirds of that for development and investment banks) and a business plan with a three year budget and internal control, risk management and audit systems. Article 8 excludes founders who are bankrupt or convicted of listed offences such as fraud, embezzlement, money laundering or tax evasion. A separate operating permit follows under Article 10, published in the Official Gazette, after at least a quarter of a system entry fee of 10 percent of the minimum capital is paid to the Fund. A foreign bank's branch needs its home supervisor's non objection and allocated capital of at least the Article 7 minimum (Article 9). Under Article 18, acquiring 10 percent or more of a bank, or crossing 20, 33 or 50 percent, needs Board permission, and unauthorised transfers cannot be entered in the share ledger.
Law No. 6361 applies a lighter version of the same model, with BDDK as licensing authority: a permit adopted by at least five Board members (Article 4); a joint stock company whose trade name contains "Finansal Kiralama Şirketi", "Faktoring Şirketi", "Finansman Şirketi" or "Tasarruf Finansman Şirketi"; paid in capital of at least 50 million Turkish Lira, or 100 million Turkish Lira for savings finance companies, which the Board may raise (Article 5); qualified founders (Article 6); and an operating permit applied for within six months, with an entry fee of 5 percent of the minimum capital paid to the state budget (Article 7). Savings finance contracts finance a home, workplace or vehicle on non interest principles after a saving period (Article 39/A). Carrying on any of these activities without a permit is punishable by two to five years' imprisonment (Article 46), so investors should treat the licence as the first step of the project.
Many bank problems are solved by a clear letter and the right documents. Legal help is worth it when:
Our banking and finance law team acts for individuals in disputes with banks and for investors in licensing work. If your concern is a bank's strength rather than a dispute, see our note on how safe Turkish banks are and when one last failed.
Bankacılık Düzenleme ve Denetleme Kurumu, the Banking Regulation and Supervision Agency, established by Article 82 of Law No. 5411 and based in Istanbul.
No. The Central Bank licenses payment and electronic money institutions under Law No. 6493 and sets the rules on consumer bank fees; BDDK licenses and supervises banks and finance companies.
No. BDDK forwards complaints to the bank and supervises compliance; money claims are decided by consumer arbitration committees and courts.
Through BDDK's electronic complaint system on e-Devlet, after complaining to the bank in writing and keeping its reply.
Disputes worth less than 186,000 Turkish Lira must go to a consumer arbitration committee; larger claims go to the consumer court after mediation.
Yes for consumer court claims above the threshold (Article 73/A of Law No. 6502) and commercial money claims (Article 5/A of Law No. 6102), but not for committee cases.
It must end the relationship where it cannot complete identification and may be barred from mentioning a suspicious transaction report, but your balance must be paid out unless an official order blocks it.
The law requires identity and a tax number (Article 76 of Law No. 5411), and identity can be verified on a passport; some banks still ask for a residence permit under their own risk policies.
Deposits unclaimed for ten years become time barred and pass to the Savings Deposit Insurance Fund after an announcement (Article 62).
The BDDK Board, under Law No. 6361, with a statutory minimum paid in capital of 50 million Turkish Lira.
At least 30 million Turkish Lira paid in cash (Article 7 of Law No. 5411), and enough to carry out the planned activities (Article 10).
No. The Capital Markets Board licenses them under Law No. 6362 as amended by Law No. 7518; BDDK only approves banks offering crypto custody.
Yes. Administrative sanctions imposed by the Board can be challenged before the competent administrative court under Article 105.
BDDK licenses and supervises banks, financial holding companies, leasing, factoring, financing and savings finance companies, asset management companies and card institutions under Law No. 5411, Law No. 6361 and Law No. 5464. Payment and electronic money institutions belong to the Central Bank and crypto platforms to the Capital Markets Board, and no regulator decides your money claim for you. In a dispute with a Turkish bank, the effective order is a written complaint to the bank, the BDDK electronic complaint where banking rules were broken, and then the consumer arbitration committee below 186,000 Turkish Lira or mediation and the court above it.
If a bank has closed or restricted your account, refused a transfer or charged fees you did not agree to, or if you plan to license a bank or finance company in Türkiye, we can review the documents, identify the right authority and act within the deadlines. To discuss your situation, contact our legal team.
