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Open a TRY Account - Turkish Lira

Drapeau Open a TRY Account - Turkish Lira

The Benefits of a TRY (Turkish Lira) Account with Mondial Change

Opening a TRY (Turkish Lira) account is free and very quick. By opening this account through Mondial Change, you benefit from the following advantages:

  • No account maintenance fees are charged
  • No transaction fees are charged
  • An account with a unique personalized IBAN
  • An account opened with an approved partner institution within the European Union
  • The account can be located in different countries according to your needs (see the list below) and notably in France

Services Accessible with the Opening of a TRY (Turkish Lira) Account

  • You can receive payments in TRY from around the world and allow your subsidiaries or clients based in Turkey to pay you in their local currency
  • You can hold your TRY (Turkish Lira) in the account
  • You can reuse your TRY (Turkish Lira) to make payments and pay beneficiaries in TRY
  • You can convert your TRY (Turkish Lira) to any other major currency at very competitive rates

Mondial Change Answers All Your Questions About TRY - Turkish Lira Accounts

How to open a TRY (Turkish Lira) account?

Opening an account is very simple.

  1. Send us your request to open a TRY account via the form on the left or through the account opening form. We will contact you to schedule a phone call to fully understand your needs regarding TRY flows.
  2. Following this exchange, we will assist you with the administrative formalities to open access to the services of one of our partners, selected based on your needs. We remain your sole point of contact for the entire client relationship.
  3. Once access to the services is validated, you can request the opening of your Turkish Lira account and any other eligible currency. Your TRY account banking details are generally provided within a few minutes, and you can start receiving and making payments in TRY (Turkish Lira).
  4. If your business evolves and you have needs in other currencies, you can request the addition of an account in another currency at any time.

What are the fees associated with opening a TRY (Turkish Lira) account?

Access to our services and the provision of currency accounts are completely free. Our remuneration is solely based on the exchange rate applied to your purchases/sales of Turkish Lira. This exchange rate is always communicated transparently before the validation of your transactions.

Is the TRY (Turkish Lira) account a personalized bank account?

The Turkish Lira (TRY) account for which we provide the details is not a bank account per se because the account-holding institution is not a bank but a partner payment institution. These accounts are labeled in your name, and the IBAN associated with the account is unique. You thus have a guarantee of segregation of your funds in the books of our partners. The security guarantees for your funds are similar to those offered by traditional banks. The account can be located in different countries according to your operational needs. Please consult the page related to opening a Turkish Lira (TRY) account for more information.

In which countries can the TRY (Turkish Lira) account be located?

It may be useful for your TRY (Turkish Lira) account to be located in France or, conversely, in another country, depending on your operational needs and the location of your clients. This is why we allow great flexibility in the location of currency accounts. The TRY (Turkish Lira) account can be located in the following countries of your choice:

  • France
  • United Kingdom
  • Belgium
  • Netherlands

You can consult the updated table of possible locations for TRY (Turkish Lira) accounts here: account locations

Is it possible to hold TRY (Turkish Lira) in the TRY account?

You can use this Turkish Lira account to receive or store TRY for as long as you wish as long as your account is active. You are automatically notified by email each time a Turkish Lira transfer is received on your TRY account. You can then freely reuse these TRY to make payments in TRY to your suppliers or convert your Turkish Lira while benefiting from very competitive exchange rates. You have no obligation to move funds on the accounts. 

Is the TRY (Turkish Lira) account compatible for receiving TRY from marketplaces like Amazon or collection systems like Paypal?

Foreign currency payment collection systems like Adyen, Stripe, Paypal, Hipay, or internal systems of marketplaces like Amazon Pay are widely used by companies conducting international transactions. These systems are efficient, but if you do not have an account in the collected foreign currency, your income in that currency is automatically converted into euros at a frequently unfavorable exchange rate, and even when you have a bank account in the collected currency, this account often needs to be located in the country where the sale is made, which can be complicated with a traditional bank. Some of our partners offer currency accounts compatible with most marketplaces and collection systems.

Besides TRY (Turkish Lira), what other currencies are available for account opening?

You can find all eligible currencies for opening a currency account by visiting this page.

Can checks, cash, or the funds present in my TRY (Turkish Lira) account be used with a bank card?

It is not possible to deposit checks or cash into your TRY (Turkish Lira) account. Only bank transfers are accepted for transactions on the account. No bank card can be attached to the account at this time.

Are account statements listing all transactions in TRY (Turkish Lira) available?

Account statements detailing all operations in Turkish Lira are downloadable at any time from the online interface. These statements include maximum information on beneficiaries, the origin of funds, related exchange operations, to facilitate the work of your accounting department.

Can the entries of the TRY (Turkish Lira) account be integrated into an ERP or TMS like SAP, SAGE, AGICAP, or Kyriba?

All account statements can be automatically integrated into your treasury software or ERP through MT940 files. You will find all movements in TRY (Turkish Lira) in your software, and you do not even need to connect to our online interface to obtain the up-to-date balance of your TRY (Turkish Lira) account. Our technical teams can also automate the processing of currency payment files provided by your TMS / ERP.

YOUR ACCOUNT IN TRY
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