Opening a bank account in Georgia is surprisingly easy — until it isn't. Most expats walk into a branch with their passport and walk out with an account in under an hour. But some get turned away with no explanation. The difference usually comes down to preparation, branch choice, and knowing how the system actually works.
This guide covers everything: which bank to pick, what documents to bring, how to avoid rejection, the fee structures nobody tells you about, premium banking options that are absurdly good value, deposit interest rates that'll make your home country look pathetic, and the currency exchange tricks that save hundreds per year.
Key Takeaways
- • Any foreigner with a passport can open a personal account — no residency required
- • Two main banks: Bank of Georgia (BoG) and TBC — both are excellent
- • Multi-currency accounts come standard (GEL, USD, EUR)
- • Takes 30–60 minutes at a branch, card issued same day or within a week
- • GEL deposit rates are ~10%+ — dramatically higher than Western banks
- • Premium banking (SOLO) costs ~$105/year and includes airport lounges, personal banker, and Visa Platinum
- • Banks can refuse you without explanation — bring supporting documents
What Changed in 2025–2026
If you've read older blog posts about Georgian banking, some information may be outdated. Here's what shifted recently:
Stricter KYC/AML Checks
Georgian banks have significantly tightened their compliance procedures. The days of walking in with just a passport and getting an account in 15 minutes are mostly over. Expect more questions about income sources, employment, and intended use of the account. This affects all foreigners, but especially those from higher-risk jurisdictions.
Labour Permit for Business Accounts
Since March 2026, foreign Individual Entrepreneurs need a labour permit. While banks don't always check for it during account opening, having one strengthens your application and avoids complications later when the bank reviews your IE account activity.
Application Fees at Some Banks
Some banks now charge a non-refundable processing fee of ~50 GEL (~$18) just to submit your application. If you're rejected, you don't get the money back. TBC is known for this. BoG generally doesn't charge upfront. Ask before starting the process.
Why Open a Georgian Bank Account?
You can survive in Tbilisi on a Wise or Revolut card for weeks, maybe months. But at some point, a local account becomes almost essential:
Pay Rent and Utilities
Most landlords want bank transfers in GEL or USD. Utility payments (electricity, gas, internet) are easiest through a local banking app.
Multi-Currency Accounts
Hold GEL, USD, EUR, and GBP in one account. Convert between them instantly in the app at competitive rates. This alone justifies opening an account.
World-Class Mobile Banking
Georgia's banking apps are genuinely excellent — better than many Western banks. Pay bills, transfer money, exchange currency, manage cards, all from your phone.
Business and Tax Requirements
If you register as an Individual Entrepreneur or LLC, you'll need a Georgian bank account for invoicing and tax payments.
High Deposit Interest Rates
GEL term deposits pay ~10% annually. Even USD deposits yield ~4–5%. If you're keeping cash anyway, it should be earning interest here.
Avoid Foreign Card Fees
Withdrawing cash from foreign cards at Georgian ATMs means conversion fees and ATM surcharges. A local debit card eliminates both.
Need the Short Version?
If you are specifically stuck between the two big banks, read our dedicated TBC vs Bank of Georgia comparison. This page explains the full banking system; that one is the direct head-to-head.
Opening an IE or Company Account?
Business banking is a different process from opening a normal expat current account. If you are an Individual Entrepreneur or founder, read the dedicated IE & business bank account guide for the KYC, documents, and labour-permit context banks increasingly care about.
Which Bank Should You Choose?
Georgia has 15 licensed commercial banks, but for expats, the choice really comes down to two — with a couple of alternatives if those don't work out.
Bank of Georgia vs TBC: Head-to-Head
These two banks together hold about 75% of the country's banking assets. Both are publicly listed (BoG on the London Stock Exchange, TBC on the same). Both are modern, well-capitalized, and genuinely good. Here's how they compare:
| Feature | Bank of Georgia | TBC Bank |
|---|---|---|
| Market position | Largest bank in Georgia | Second largest, close behind |
| Mobile app | mBank — excellent | TBC mobile — excellent, slightly more modern UI |
| Card types | Visa, Mastercard, Amex | Visa, Mastercard |
| Basic card cost | 40–110 GEL/year | 2–10 GEL/month (subscription) |
| Digital card | Available | 1 GEL/month (Visa Gold) |
| ATM network | Largest in Georgia | Second largest, nearly as wide |
| Apple Pay / Google Pay | Yes | Yes |
| English support | Central branches | Central branches |
| Premium tier | SOLO (~$105–260/year) | TBC Concept |
| Online account opening | Branch visit required | Available for some nationalities (lower success rate) |
| Business accounts | 20–85 GEL/year | 75–150 GEL/year |
| SWIFT outgoing | 0.2% (non-guaranteed) / 0.3% (guaranteed) | 0.15–0.25% (varies by plan) |
| Best for | Widest coverage, premium SOLO, large transfers | Modern UX, subscription flexibility, digital-first |
Open Both — It Costs Almost Nothing
Many long-term expats have accounts at both BoG and TBC. Maintaining two accounts costs maybe $50–70/year total, and having two cards means you're never stuck if one bank's system goes down for maintenance. It also gives you flexibility for different transfers and rate comparisons.
Other Banks Worth Knowing
If BoG and TBC turn you down (it happens), these are your backup options:
| Bank | Strengths | Weaknesses | Best For |
|---|---|---|---|
| Liberty Bank | Third-largest, good coverage, pension payments | App is less polished, fewer premium features | Budget-conscious expats |
| Credo Bank | More flexible with foreigners, lower rejection rate | Smaller branch/ATM network | If BoG/TBC reject you |
| Basis Bank | Business-friendly, flexible compliance | Limited ATM network | Business accounts, entrepreneurs |
| Terabank | Low fees, decent app | Fewer branches | Simple personal accounts |
Premium Banking: SOLO and TBC Concept
This is where Georgian banking gets genuinely impressive. The premium tiers offer services that would cost 5–10x more in Western Europe, and the entry requirements are surprisingly low.
SOLO by Bank of Georgia
SOLO isn't a separate bank — it's BoG's premium division with dedicated branches, personal bankers, and an absurdly good value proposition. Two tiers:
| Feature | SOLO Premium | SOLO International |
|---|---|---|
| Annual cost | ~$105 USD | ~$260 USD |
| Cards included | Visa Platinum + Mastercard World Elite | Visa Platinum + Mastercard World Elite |
| Airport lounge access | 2 free/year (then $35 each) | 9 free/year (then $35 each) |
| SWIFT wire fee | $35 flat (USD) / €45 (EUR) | $35 flat (USD) / €45 (EUR) |
| Foreign ATM withdrawal | 2% commission | 0% commission |
| Daily withdrawal limit | 50,000 GEL (~$17,500) | 100,000 GEL (~$35,000) |
| Personal banker | Yes, 24/7 | Yes, 24/7 |
| Private concierge | No | Yes, 24/7 worldwide |
| Minimum deposit | None (can open with 0 GEL) | None |
| Free data roaming | 3 GB in 120+ countries | 3 GB in 120+ countries |
The value here is remarkable. SOLO Premium at $105/year gives you Visa Platinum and Mastercard World Elite, airport lounge access, a personal banker, and flat-fee SWIFT transfers at $35 per wire regardless of amount. If you send even one large international transfer per year, the flat fee alone pays for the membership.
SOLO International for Frequent Travelers
If you travel regularly, SOLO International at $260/year is hard to beat. Nine free airport lounge visits, 0% foreign ATM withdrawal worldwide, and a concierge service. Compare that to a Priority Pass membership (~$429/year) that only gives you lounge access.
TBC Concept
TBC's premium offering includes Visa Platinum or Mastercard World Elite, higher withdrawal limits, and hotel/shop discounts. It's more expensive than SOLO but comes with its own perks. The main advantage is TBC's slightly more polished digital experience. Ask at the branch for current pricing — TBC changes their plans more frequently than BoG.
What Documents Do You Need?
Officially, you only need your passport. In practice, bringing more dramatically reduces your chance of being refused.
| Document | Required? | Why It Helps |
|---|---|---|
| Passport | Yes | Original only — not expired, not damaged |
| Georgian phone number | Yes | For SMS verification. Get a Magti or Beeline SIM first (~5 GEL) |
| Proof of income | Strongly recommended | Employment contract, invoices, or bank statements from home. Satisfies AML checks |
| Rental agreement | Recommended | Shows you have a local address and aren't just passing through |
| Home country bank statements | Helpful | Last 6–12 months. Banks may request this for compliance review |
| Business registration (IE/LLC) | If applicable | For business accounts — NAPR extract, plus contracts/invoices |
| IRS W-9 / SSN (US citizens) | Required for Americans | FATCA compliance — banks must report US person accounts |
The Application Form Trap
The form is often in Georgian. Don't leave fields blank — this is a common rejection trigger. The bank employee will help you fill it out, but have your answers ready: what you do for work, expected annual turnover, which countries you'll transact with, and why you want the account. Vague or contradictory answers raise flags. "I'm a remote software developer working for a US company" is clear. "Business" is not.
Step-by-Step: Opening Your Account
Get a Georgian SIM Card
Buy a SIM from Magti, Beeline, or Geocell at any mobile shop or supermarket. Costs ~5 GEL. You need this before visiting the bank — they'll send SMS codes to verify your number. A WhatsApp or Skype number won't work.
Choose Your Bank and Branch
Go to a central Tbilisi branch — never a small neighborhood or rural branch. Central branches handle foreigners daily and have English-speaking staff. BoG on Pushkin Street and TBC on Marjanishvili are popular choices. Mall branches (Galleria, East Point) also work and have extended hours.
Take a Queue Ticket and Wait
Most branches use a ticket system. Wait times vary — expect 10–40 minutes. Avoid Mondays, first/last days of the month, and mornings. Tuesday–Thursday early afternoon is ideal.
Present Documents and Fill Forms
Hand over your passport, provide your Georgian phone number, and fill out the application form. The banker will ask about income source and purpose — answer honestly and specifically. "I'm working remotely for a tech company and living in Tbilisi" works. Don't mention crypto as primary income.
Choose Your Card and Plan
The banker will offer different tiers. For most expats, a standard Visa or Mastercard is plenty. Don't let them upsell you to premium unless you actually want SOLO perks. Ask about subscription vs annual payment — sometimes monthly is cheaper initially.
Get Your Card and Download the App
Some branches issue instant cards — ask for one, it saves a second visit. Otherwise, 3–7 business days. Download BoG's "mBank" or TBC's app immediately. Set up Apple Pay or Google Pay. You can use online banking right away while waiting for the physical card.
Fee Breakdown: What Banking Actually Costs
Georgian banks are affordable, but some fees catch expats off guard. Here's the complete picture:
| Fee Type | BoG | TBC | Notes |
|---|---|---|---|
| Card issuance | 40–110 GEL/year | 12–120 GEL/year | Depends on card tier |
| Monthly maintenance | 0–5 GEL | 0–10 GEL | Depends on plan |
| ATM (own bank) | Free | Free (within limits) | Unlimited at your bank's ATMs |
| ATM (other bank) | 0.5 GEL | 0.5–1 GEL | Small cross-bank fee |
| SWIFT incoming | 0.1–0.15% | 0.1–0.2% | Plus correspondent bank fees |
| SWIFT outgoing | 0.2% (min ~$15) or 0.3% (guaranteed, min ~$35) | 0.15–0.25% (min ~20 GEL) | SOLO: flat $35/$45 regardless of amount |
| Currency conversion | ~1–1.5% spread | ~1–1.5% spread | Better rates for larger amounts |
| Inactivity fee | 5 GEL/month | 5 GEL/month | After 12 months of zero activity |
| Account closing | Free | Free | Must be done in person at a branch |
Annual Banking Cost: Standard Account
Annual Banking Cost: SOLO Premium
Deposit Interest Rates: Why Your Money Should Work Here
This is the part that surprises most newcomers. Georgia's central bank (NBG) policy rate sits at 8%, which means commercial banks offer deposit rates that make Western savings accounts look embarrassing.
| Currency | Savings Account | 6-Month Term | 12-Month Term | Notes |
|---|---|---|---|---|
| GEL | ~5–7% | ~9–10% | ~10–11% | Highest rates at smaller banks (Basis, Credo) |
| USD | ~2–3% | ~3.5–4.5% | ~4–5% | Competitive with US money market accounts |
| EUR | ~1.5–2.5% | ~2.5–3.5% | ~3–4% | Better than most EU banks currently |
GEL Currency Risk
Those 10%+ GEL rates come with a catch: currency risk. The lari can (and does) depreciate against the dollar and euro. If GEL drops 5% against USD while you're earning 10% on your deposit, your real return in dollar terms is only ~5%. For money you plan to spend in Georgia (rent, food, utilities), GEL deposits make perfect sense. For savings you'll eventually repatriate, USD deposits may be the safer play — still ~4–5% with no currency risk.
Term deposits lock your money for a fixed period (3, 6, 12 months). If you withdraw early, you typically forfeit the interest. Savings accounts (sometimes called "accumulation accounts") let you withdraw anytime but pay less. Both BoG and TBC offer these through their apps — you can set up a deposit in two minutes without visiting a branch.
Tax on Interest
Interest income from Georgian bank deposits is taxed at 5% for GEL deposits and 5% for foreign currency deposits. The bank withholds this automatically — you don't need to do anything. This is a final tax, so it's not added to your IE or personal income tax.
Currency Exchange: Getting the Best Rates
If you're earning in USD or EUR and spending in GEL, how you convert currency matters more than you think. A 1% difference on $2,000/month is $240/year.
| Method | Typical Spread | Best For | Convenience |
|---|---|---|---|
| Banking app (BoG/TBC) | 1–1.5% from mid-market | Convenience, instant, any amount | ⭐⭐⭐⭐⭐ |
| Street exchange offices | 0.3–0.8% from mid-market | Best cash rate, negotiable for large amounts | ⭐⭐⭐ |
| Bank branch (cash) | 1–2% from mid-market | Large amounts with receipt | ⭐⭐ |
| Wise (send to GEL account) | ~0.5–1% + small fee | International transfers into GEL | ⭐⭐⭐⭐ |
Use myfin.ge to Compare Rates
myfin.ge aggregates live exchange rates from every bank and exchange office in Georgia. Before converting a large amount, check it first. For cash exchanges, the little kiosks on streets like Chavchavadze or Marjanishvili often beat bank rates by 0.5–1%. For amounts over $5,000, call ahead — they may offer a better rate.
International Transfers
Moving money in and out of Georgia is a core expat need. Here's the quick version — for a deep dive, see our dedicated money transfers guide.
Getting Money In
- • Wise → GEL IBAN: Cheapest for amounts under ~$5,000. ~1–1.5% total cost, arrives same day.
- • SWIFT wire: Better for large amounts ($5K+). 0.1–0.2% incoming fee.
- • Crypto (Binance P2P): Works but explain income source if asked.
Getting Money Out
- • SWIFT wire: Standard method. 0.2–0.3% outgoing. SOLO flat $35.
- • Wise: Cannot send FROM GEL — only receives GEL.
- • Hold USD in-app: Keep earnings in USD sub-account, transfer out without converting.
The Smart Setup: Wise + Georgian Bank
Receive income into your Wise multi-currency account. Convert to GEL at Wise's rate. Transfer to your BoG/TBC account via the local GEL route. This avoids SWIFT fees entirely and gets you the best exchange rate. For amounts over ~$5K, SWIFT directly to your Georgian bank becomes cheaper.
Business Bank Accounts
If you've registered a business — whether as an Individual Entrepreneur (1% tax rate) or an LLC — you'll need a separate business account. The process is stricter.
| Requirement | IE Account | LLC Account |
|---|---|---|
| Registration extract (NAPR) | Yes | Yes |
| Director's passport | Your passport | Authorized person's passport |
| Business description | Brief verbal explanation | Written description or business plan |
| Contracts or invoices | Helpful | Usually required |
| Labour permit | Required since March 2026 | Required for foreign directors |
| Processing time | 1–3 business days | 2–5 business days |
| Annual card cost | BoG: 20–85 GEL / TBC: 75–150 GEL | Similar ranges |
The compliance checks are stricter for business accounts — banks want to understand your business model, where your clients are, and how money flows through the account. Having contracts, invoices, or a clear website for your business helps enormously.
What If the Bank Says No?
Georgian banks can — and do — refuse account openings without any explanation. They're not required to tell you why. Understanding the common reasons helps you avoid them.
| Reason | How Common | How to Avoid |
|---|---|---|
| Insufficient documentation | Very common | Bring proof of income, rental agreement, bank statements |
| Vague income source | Common | Be specific: "software consultant for XYZ Corp" not "freelancer" |
| Crypto as primary income | Common | Lead with your non-crypto income. Never mention crypto first. |
| High-risk nationality | Moderate | Extra documentation helps. Try multiple banks. Consider Credo. |
| Small branch / cautious staff | Moderate | Always go to a central branch that handles foreigners daily |
| Incomplete application form | Moderate | Never leave fields blank. Clarify any question you don't understand. |
| No Georgian phone number | Easy to avoid | Get a Georgian SIM before visiting the bank |
If You Get Rejected
Don't panic. First, try a different branch of the same bank — results vary wildly between branches and even between individual employees. If that fails, try the other big bank (BoG → TBC or vice versa). If both reject you, try Credo Bank or Basis Bank, which tend to be more flexible with foreigners. As a last resort, expat service companies can facilitate the process for a fee (50–200 GEL).
Power of Attorney: Opening Remotely
Most Georgian banks do allow account opening via notarized power of attorney. If you can't or don't want to visit in person, you can authorize someone (a lawyer, service provider) to open the account on your behalf. The PoA must be notarized and apostilled. This is more expensive and slower but works — especially useful for business accounts when the director is abroad.
Mobile Banking and Payments
Georgia's mobile banking apps are genuinely excellent — not "good for a developing country" but good by any global standard. This often surprises newcomers.
BoG mBank App
- • Instant GEL/USD/EUR conversion
- • Pay all utilities, internet, mobile top-up
- • P2P transfers to any Georgian bank
- • QR code payments at merchants
- • Scheduled and recurring payments
- • Card management (freeze, limits, PIN)
- • Term deposits from the app
- • Loan applications
TBC Mobile App
- • Same core features as BoG
- • Slightly more modern UI/UX
- • Built-in savings goals
- • Spending analytics and categories
- • Instant card issuance (digital)
- • Apple Pay / Google Pay setup in-app
- • Split bill features
- • Merchant cashback offers
Both apps support Apple Pay and Google Pay. Contactless payments are accepted at virtually every shop, restaurant, and café in Tbilisi. It's actually harder to find a place that doesn't take card. The main exceptions: bazaars, some marshrutka drivers, and occasional small businesses outside the capital.
Closing Your Account or Leaving Georgia
If you're leaving Georgia permanently, here's what to know about your bank accounts:
Keep It Open
Many expats keep their Georgian accounts active even after leaving. Benefits: you still have a multi-currency account, high deposit rates, and easy access if you return. Just make at least one transaction per year to avoid the 5 GEL/month inactivity fee. A small internal transfer between your own sub-accounts counts.
Close It
Closing requires a branch visit — you can't do it remotely. Withdraw or transfer all funds first. The bank will cancel your cards and close all sub-accounts. If you have term deposits, they must mature first (or you forfeit interest by breaking early). Account closing itself is free.
Don't Just Abandon It
If you leave Georgia and let your account drain to zero through inactivity fees, the account gets flagged. This can cause problems if you ever try to open a new account in Georgia later. Either close it properly or keep it active with a small balance and occasional transaction.
Common Mistakes Expats Make
Going to a Small Branch
Neighborhood and rural branches are unfamiliar with foreign clients. Staff may invent requirements or simply refuse. Always go to a central branch in Tbilisi.
Only Bringing a Passport
Technically sufficient, but practically risky. Bring proof of income, a rental agreement, and home country bank statements. Over-preparation beats rejection.
Mentioning Crypto First
Even if crypto is a significant part of your income, lead with consulting, freelancing, or remote work. Banks associate crypto with compliance risk and may reject you immediately.
Converting Everything in the App
Bank app rates are convenient but expensive (1–1.5% spread). For large conversions, use street exchange offices (0.3–0.8%) or Wise for incoming transfers. Check myfin.ge first.
Ignoring Deposit Rates
Keeping large balances in a 0% checking account when you could earn 10% on GEL or 4–5% on USD term deposits. If you're holding cash, put it to work.
Using Only One Bank
Maintaining accounts at both BoG and TBC costs almost nothing and gives you redundancy, rate comparison, and backup access during maintenance.
Trying Online First
Online account opening exists at TBC but has a lower success rate for foreigners. Walk into a central branch — the human element and ability to present documents in person significantly increases your chances.
Not Using the App for Utilities
Many expats pay utilities in cash at service centers. The banking app handles electricity, gas, water, internet, and mobile top-ups — all in seconds, with payment history tracked automatically.
Which Setup Is Right for You?
| Your Situation | Recommended Setup | Why |
|---|---|---|
| Digital nomad, 1–6 months | BoG or TBC standard card | Cheap, easy, handles rent and bills |
| Long-term expat, remote work | Both BoG + TBC standard + Wise | Redundancy, best rates via Wise combo |
| IE/Freelancer ($3K+/month) | BoG SOLO Premium + business account | Flat $35 SWIFT fees pay for themselves |
| LLC with international clients | BoG or TBC business + SOLO | Multi-currency business account + personal banker |
| Frequent international traveler | SOLO International | 0% foreign ATM, 9 lounge visits, concierge |
| Retiree/passive income | BoG standard + GEL term deposits | Earn ~10% on GEL savings, low maintenance |
| Rejected by BoG and TBC | Credo Bank or Basis Bank | More flexible compliance, lower rejection rate |
Branch Opening Hours
| Day | Standard Branches | Mall Branches |
|---|---|---|
| Monday – Friday | 9:30 AM – 5:30 PM | 10:00 AM – 9:00 PM |
| Saturday | 10:00 AM – 2:00 PM (some) | 10:00 AM – 9:00 PM |
| Sunday | Closed | 11:00 AM – 8:00 PM (varies) |
| Best time to go | Tuesday–Thursday, early afternoon (avoid Mondays, month start/end) | |
Mall branches at Galleria and East Point have extended hours and weekend availability. They can be busier but are good if you can't make weekday hours. SOLO lounges have their own hours and are generally less crowded.
Frequently Asked Questions
Can tourists open a bank account?
Yes — anyone with a passport and a Georgian phone number can open a personal account. No visa, residency, or return ticket required. However, banks are significantly more likely to approve you if you show a connection to Georgia: a rental agreement, business registration, or proof of income goes a long way.
How long does it take to get a bank card?
Same day if the branch has instant-issue cards (most central branches do — ask for it). Otherwise, 3–7 business days. You can use online banking and the mobile app immediately while waiting for the physical card.
Do I need to speak Georgian?
No. English is widely spoken at central bank branches in Tbilisi. Both BoG and TBC apps are fully available in English. The application form may be in Georgian, but the banker will help you fill it out.
What deposit rates can I get?
GEL term deposits pay ~10–11% annually. USD deposits yield ~4–5%. EUR deposits offer ~3–4%. Interest is taxed at 5% (withheld automatically). GEL rates are high but carry currency risk — the lari can depreciate against major currencies.
Can I open an account remotely?
TBC offers online account opening for some nationalities, but the success rate for foreigners is lower than in-person. BoG requires a branch visit. Both banks accept notarized power of attorney — you can authorize a local lawyer or service provider to open on your behalf. It's more expensive but works.
Is SOLO Premium worth it?
For expats handling $3K+/month or making international transfers, absolutely. At ~$105/year, you get Visa Platinum, Mastercard World Elite, airport lounge access, a personal banker, and flat $35 SWIFT transfers. A single large SWIFT transfer at flat rate vs percentage-based fees can save more than the annual membership cost.
Can foreigners get loans or mortgages?
Yes, but it requires residency, 6–12 months of local salary deposits, and a Georgian credit history. Credit cards are the easiest entry point. Interest rates are significantly higher than Western countries — expect 15–25% APR on credit cards and 10–15% on personal loans. For property purchases, mortgage rates are 10–13% on GEL and 7–9% on USD loans.
What about CRS/FATCA reporting?
Georgia participates in the Common Reporting Standard (CRS), which means your account information is automatically shared with your home country's tax authority annually. US citizens face additional FATCA reporting requirements — you'll need to provide your SSN/ITIN and W-9 form. This doesn't prevent you from having an account, but failing to report foreign accounts to your home country (like FBAR for Americans) can carry severe penalties.
Can I link my account to Wise or Revolut?
Yes. Add your Georgian IBAN as a recipient in Wise and send GEL directly. Revolut also supports transfers to Georgian accounts. Both work well for funding your local account. Note: Wise can send TO your Georgian account but cannot send FROM GEL — for outgoing international transfers, use SWIFT. See our money transfers guide for the full breakdown.
The Bottom Line
Opening a bank account in Georgia is one of the first things you should do when you arrive. It takes an hour, costs almost nothing, and makes daily life dramatically easier. Go to a central branch, bring your passport plus supporting documents, get a Georgian SIM card first, and you'll likely walk out with an account that same day.
For a basic account, pick either BoG or TBC (or both). For premium banking at an absurd price point, upgrade to SOLO. Put your idle cash in term deposits earning 10%+ on GEL or 4–5% on USD. Use Wise for incoming international transfers under $5K, SWIFT for larger amounts. Check myfin.ge before converting large sums.
"Georgian banking apps are genuinely better than what I had back in Germany. The in-app currency conversion alone saves me hundreds a year. And SOLO Premium at $105/year is the best banking value I've found anywhere."
— Long-term expat in Tbilisi
Written by The Georgia Expats Team
We've navigated Georgian banking firsthand — opening accounts at both major banks, upgrading to SOLO, comparing exchange rates across platforms, and dealing with the quirks of compliance. This guide reflects years of real experience, not research summaries.
Last updated: February 2026.
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