Georgia (GE)
Caucasus gateway with long visa-free stays for many nationalities, low business taxes, mountain-and-wine culture, and a fast-changing 2026 work-permit environment.
Banking in Georgia
Recommended banks, payment culture and credit score basics.
Georgia has a surprisingly sophisticated banking sector for a country of its size. The two dominant banks — TBC Bank and Bank of Georgia (BOG) — together hold over 80% of total banking assets and offer world-class mobile banking apps, multi-currency accounts, and English-language support. Georgia is one of the few countries in the world where foreigners can open a bank account with just a passport (no residence permit required) within 30–120 minutes at a branch. Georgian IBAN format: GE + 2 check digits + 2-letter bank code + 16-digit account number = 22 characters total. Example: GE29NB0000000101904917. Currency: Georgian Lari (GEL, ₾). GEL/USD exchange rate (May 2026): 1 USD ≈ 2.65–2.70 GEL. EUR ≈ 2.90–3.00 GEL. Credit cards: Visa and Mastercard both widely accepted in Tbilisi and major cities. American Express has very limited acceptance. Chip+PIN is standard. Contactless (NFC) payments widely available. Apple Pay and Google Pay accepted at most larger retailers, supermarkets, and restaurants. ATMs: TBC and BOG ATMs are located throughout Tbilisi (every metro station, shopping malls, petrol stations). ATM daily withdrawal limit: typically 2,000–5,000 GEL. Foreign card ATM fees: most Georgian ATMs charge 3–5 GEL per transaction to foreign cardholders plus foreign card conversion fees. Use Wise or Revolut for better ATM rates. Building credit history in Georgia: Georgia does not have a widely-used credit scoring system like the UK's Experian or US FICO. Creditworthiness for Georgian bank loans is assessed primarily through income documentation and banking history. A 3–6 month account history with regular salary deposits establishes a track record.
Recommended banks
TBC Bank
EnglishMonthly fee: Free standard account; Premium accounts from 15 GEL/month
Requirements: Passport (original) + Georgian phone number. No residence permit required for visa-free visitors. Visit any branch — no appointment needed. 30 minutes to 2 hours. Open GEL, USD, and EUR accounts simultaneously.
- + Largest bank in Georgia by assets — excellent stability
- + TBC SPACE super-app: banking, marketplace, payments, credit, insurance in one app
- + English-language mobile app and customer service
- + Multi-currency accounts (GEL, USD, EUR) opened simultaneously in one visit
- + TBC Pay: widely accepted contactless mobile payment system
- + Visa and Mastercard debit cards; credit cards available with income proof
- + International transfer via SWIFT (SWIFT code: TBCBGE22)
- + Wise integration for international transfers
- + TBC Business: dedicated small business banking with separate app
- + Investment products: TBC Investment; crypto-linked accounts available
- - Branch queuing can be long during peak hours — go early or later in the day
- - Some services require Georgian language; in-app translation sometimes incomplete
- - Credit card approval requires Georgian income documentation or significant bank balance
Bank of Georgia (BOG)
EnglishMonthly fee: Free standard account; BOG Premium from 20 GEL/month
Requirements: Passport (original) + Georgian phone number. No residence permit required. Branch visit required. 30 minutes to 2 hours. Multi-currency accounts available.
- + Second largest Georgian bank — highly stable
- + Excellent mobile app (BOG App) — English language, highly rated
- + BOG Pay: mobile payment system accepted across Tbilisi
- + Multi-currency accounts (GEL, USD, EUR)
- + BOG Business: dedicated business banking for SMEs and startups
- + Wider ATM network coverage in some districts
- + BOG Investment platform for stocks, bonds, and funds
- + SWIFT code: BAGAGE22 for international wire transfers
- - Some processes slower than TBC SPACE equivalents
- - BOG website less comprehensive in English than TBC
Basis Bank
Monthly fee: Free standard account
Requirements: Passport + residence permit or business documentation typically required; more restrictive than TBC/BOG for initial opening
- + Good for small business accounts
- + More flexible on business account requirements for new companies
- + Lower fees for some international transfer products
- + Less crowded branches than TBC/BOG
- - Limited English-language support
- - Smaller ATM network
- - Not recommended as primary account for general expat banking
Liberty Bank
Monthly fee: Free standard account; basic debit card GEL 0–5/year
Requirements: Passport + Georgian phone number. No residence permit required. Branch visit required. Liberty Bank is the third-largest bank in Georgia by customer numbers, with a strong presence outside Tbilisi.
- + Third-largest bank in Georgia — very wide branch and ATM network across all regions
- + Western Union and MoneyGram transfers available at all Liberty Bank branches — useful for emergency cash receipt
- + Lower minimum thresholds for basic accounts compared to TBC/BOG premium tiers
- + GEL, USD, and EUR accounts available
- + Salary and pension account for expats working with Georgian state institutions or schools
- - Limited English-language support — bring a Georgian-speaking colleague if possible
- - Mobile app and digital banking less advanced than TBC or BOG
- - Not recommended as a primary account for digitally active expats — use TBC or BOG for day-to-day digital banking
Payment culture
Cash and card coexist in Georgia. Tbilisi: contactless card and mobile payment (TBC Pay, BOG Pay, Apple Pay, Google Pay) accepted at: supermarkets (Carrefour, Fresco, Goodwill, Populi), restaurants, pharmacies, petrol stations, and most shops in Vake and Saburtalo. Cash (GEL) still dominant for: markets (Dezerter Bazaar, Green Bazaar), small neighbourhood shops, marshrutka (minibuses — only cash), street food vendors, many rural areas. Currency exchange: buy GEL at licensed exchange kiosks (better rates than banks for large amounts). Rustaveli Avenue has multiple licensed kiosks. TBC and BOG in-app exchange is competitive for smaller amounts. Never exchange money with street traders — short-changing is a known scam. Tipping: restaurants 10%; taxis optional but appreciated; hotel staff 2–5 GEL; other services discretionary.
Cash access
ATMs are widely available throughout Tbilisi — every major intersection, metro station, supermarket, and petrol station has at least one TBC or BOG ATM. ATMs outside Tbilisi: available in Batumi, Kutaisi, Rustavi, Gori, Telavi, and most large towns. Remote mountain areas (Kazbegi, Mestia/Svaneti): limited ATMs — bring sufficient GEL cash before venturing to remote areas. ATM fees for foreign cards: Georgian ATMs charge a per-transaction fee (3–5 GEL) to foreign cardholders in addition to your home bank's foreign transaction fee. Wise and Revolut users: use the dedicated ATM access feature to minimise fees. Emergency cash: if your cards fail, Western Union and MoneyGram are available at Liberty Bank and BOG branches nationwide. The "Expats in Georgia" Facebook group has members who can provide emergency cash exchange assistance (peer-to-peer).
Georgian Credit Bureau Score
CIBG (Credit Information Bureau of Georgia) maintains credit records. Request your credit report at creditinfo.ge. Limited English interface — ask your Georgian accountant or bank to assist.
Free annual check: One free credit report per year available from creditinfo.ge under Georgian law. Subsequent reports: small fee.
Georgia does not have a widely-used multi-factor credit scoring system equivalent to UK/US systems. Banks primarily assess creditworthiness through income documentation (payslips, bank statements), employment history, and existing banking relationship. A 6-month history of regular deposits at TBC or BOG significantly improves your credit profile for loan applications. Foreign-source income is acceptable if documented with bank statements.
International transfers
International transfer options from Georgian accounts: 1. SWIFT transfer: TBC Bank (TBCBGE22), BOG (BAGAGE22), Basis Bank. Fee: 20–50 USD per transfer. Processing: 2–4 business days. Good for large amounts (over 5,000 USD). 2. Wise: full Wise transfer functionality in Georgia (note: Wise card not issued to Georgian residents). Link Wise to your Georgian account for cheap international transfers. Receiving foreign-currency income into Wise and transferring to Georgian bank is a popular strategy for digital nomads. 3. Revolut: works from Georgian accounts. Georgian bank cards (Visa/Mastercard) link to Revolut. Useful for travel and small international transfers. 4. Western Union: branches in Liberty Bank and Post Bank; widely available but high fees. 5. MoneyGram: available at BOG branches. 6. Restrictions: Georgia has no currency controls preventing transfers. Large transfers (over USD 10,000) may require source-of-funds documentation from the bank. Tip: for receiving USD income from foreign clients, set up a Wise USD or EUR virtual account and forward to your BOG/TBC USD/EUR account — avoids conversion fees entirely.