Upon enrollment at a university in Northern Cyprus, all students can apply for a Student Certificate. With this certificate, they can open a bank account at one of the local banks by providing a copy of the certificate along with their dormitory or house rental certificate, residence permit certificate, and the amount of money they wish to deposit.
The most common bank for students to open an account with is the İş Bank. After depositing the required amount, the bank will provide them with a bank card on the same day, and a credit card will be ready after about 15 days. The account can be opened in both dollars and Turkish lira, and both currencies can be deposited and withdrawn. However, if you deposit dollars, you will first need to convert them into lira before making any transactions.
Recently, the Bank of Agriculture (Ziraat Bankası) has also started offering accounts for students, and they can open an account at this bank like any other.
Most ATMs in Northern Cyprus dispense lira, but some ATMs also allow withdrawals in dollars and euros. To withdraw dollars, you need to have them converted into lira first and then withdraw them through your bank account. After receiving a bank account card, students can also request an internet service password to make various financial transactions through the bank’s website and the internet.