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Opportunity for Remote Bank Account Opening for Legal Entities

Starting from June 1st, legal entities can now become remote banking customers! With this recent regulation, we are entering a new era in the banking sector. Thanks to the new regulation introduced by the Banking Regulation and Supervision Agency (BDDK), it is now possible for legal entities to become bank customers through remote identification methods. This change was implemented on June 1, 2023, with the Regulation on Remote Identification Methods to be Used by Banks and the Establishment of Contractual Relationship in Electronic Environment prepared by the BDDK. With this update, it has become much easier for entities like trading companies to open bank accounts. The opportunity to become a remote banking customer will accelerate business processes and enable more efficient management. In the regulation, legal entities are defined as commercial companies and regulated in the Turkish Commercial Code numbered 6102, dated January 13, 2011. The general information infographic published by the Banks Association of Turkey also explains the steps to follow for opening a bank account through remote application. The steps to be followed are as follows: Steps to Open a Remote Bank Account Quickly and Easily

  1. Before starting a video call, you need to submit your application through an electronically filled form on the mobile application or the bank's website of the bank you want to open an account with.

  2. For remote identification, it is essential to have the new Turkish ID card and a smartphone.

  3. You can apply for remote identification either for yourself or on behalf of the legal entity you represent. The person applying on behalf of the legal entity must have the authority to represent the company. If multiple individuals have the authority to represent the legal entity, the verification can be performed at different times.

  4. The information on your ID card must be readable. Transactions cannot be conducted with a damaged ID card.

  5. Download the mobile application of the bank you want to open an account with to your smartphone or visit the bank's website.

  6. Verify the security of the platform where you will download the mobile application or the accuracy of the website address you will log in to.

  7. After the bank completes the verification of your information, you will need to contact a customer representative to proceed with the remote identification process. Therefore, please remember to move to a calm and well-lit environment before starting to use the bank's application.

  8. During the call, avoid using items such as sunglasses and masks that hinder facial recognition.

  9. Even if you are performing the transaction on a computer, please have your mobile phone with you. Check that the front and rear cameras of your phone are working and that your internet connection is stable. Your camera must be open during the call.

  10. Your bank may ask you to use the NFC (Near Field Communication) feature on your mobile phone. Therefore, make sure to learn in advance where the NFC feature is located in the menus of your phone and how to activate it.

  11. If the NFC feature is not available, the bank you want to open an account with may request a transfer from another bank account for the verification process. In this case, please follow the necessary steps to complete the requested transfer.

  12. During these procedures, please ensure that the information you entered on the application form is up-to-date and complete. Provide accurate and clear answers to the questions asked. In remote identification applications on behalf of legal entities, make sure that the information you enter for the company you represent is up-to-date and consistent with official records (such as the Central Registry Record System - MERSİS and the Trade Registry Gazette).

  13. Please note that the video call conducted for the identification of legal entities can only be performed with the authorized person specified in the application form. During the call, your Turkish ID card and, if necessary for legal entities, a sample of the signature circular may be requested by the bank. Therefore, it is important to have the signature circular with you.

  14. Ensure that the video and audio quality is sufficient to eliminate any doubts and does not impose any restrictions on identification.

  15. During the call, all transactions will be conducted solely with you. Therefore, do not seek assistance or support from a third party for the security of your account and transactions. However, disabled individuals can seek assistance from a third party during the video call stage of remote identification if needed. In such cases, the customer representative may request photos or screenshots of the third party's identification document showing the front and back.

As Nergiz Law Firm, we are proud to provide consultancy services to our clients in this field. With our extensive experience and expertise accumulated over the years, we assist our legal entity clients in managing their banking transactions effectively. Please feel free to contact us if you have any questions. #LegalEntities #RemoteBankAccountOpening #CorporateBanking #DigitalBanking #MobileBanking #BankingTransactions #BankingSolutions #EfficientBanking #SecureTransactions #TimeSaving



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