Opening a Local Bank Account in Georgia as a Foreigner

Landing smooth and paying like a local, one tap at a time

Moving to Georgia used to be the preserve of adventurous backpackers and wine geeks hunting down qvevri-aged vintages. Today it’s also remote workers, retirees, crypto traders and families looking for a softer cost-of-living curve. Whatever brings you, sooner or later you’ll face the same practical question:

“How on earth do I get my lari without haemorrhaging on ATM fees?”

Cue the local bank account.
In this guide I’ll walk you—step by reassuring step—through everything from what to prepare before your flight to which bank’s app won’t leave you Googling Georgian menu items. Consider me your personal relocation coach, coffee in hand, laptop always within reach.

Why Bother With a Georgian Account?

Before we get into paperwork, let’s pinch-zoom on the benefits:

• Zero-fee or low-fee lari withdrawals compared to foreign cards
• Multi-currency options (GEL, USD, EUR) in one account
• Local credit history if you stay long-term (think mortgages, car loans)
• Access to utilities, e-government, and certain mobile plans that require a Georgian IBAN
• Gorgeous, bilingual mobile apps—with real-time wine-based spending graphs (kidding, but the visualisations are pretty good)

Most people can open an account within 30–60 minutes—yes, really—provided they walk in with the right docs. Let’s make sure you do.

Pre-Move Preparation Checklist

A little groundwork saves a lot of back-and-forth with taxi drivers on Rustaveli Avenue. Here’s what to tick off before your boarding gate is called.

1. Documents to scan and store

1. Passport valid for at least six months
2. Digital copy of your passport’s main page
3. Proof of current address in your home country (utility bill, bank statement, driver’s licence)
4. Optional: Letter from employer or proof of freelance income (bank statements or invoices)

Tip: Upload everything to an encrypted cloud folder (e.g., Proton Drive, iCloud, Google Drive) labelled Georgia Move so you can whip them out at the counter without juggling thumb drives.

2. Decide on your “bank persona”

Georgian banks sometimes ask whether you’re an employee, investor, entrepreneur or other. Have a clear, honest statement ready (“I’m a software developer earning remotely for a US company”). It shows you’ve thought things through and speeds compliance checks.

3. Check your home-bank restrictions

Some banks in North America and Europe freak out when they see transactions from “TBC Bank” or “Bank of Georgia” and slap a fraud hold on you. Call your bank and warn them you’ll be in Tbilisi/Batumi/Kutaisi for [insert months]. A 5-minute chat saves a 30-minute panic call later.

4. Power of attorney (if you want a proxy)

Can’t show up in person? A notarised, apostilled power of attorney can let a local lawyer or trusted friend open the account on your behalf—but this is only accepted at some banks and is usually more trouble than it’s worth. Better to plan that extra day in Tbilisi.

Arrival Week Must-Dos

You’ve landed, inhaled your first khachapuri and discovered that Georgian SIMs cost about the price of a cappuccino. Let’s line up your first-week tasks so the bank account fits naturally into the flow.

Day 1–2: Get Connected

1. SIM card: Magti, SilkNet and Beeline sell visitor packages at the airport. You’ll need a local phone number to receive transaction-confirmation SMSes.
2. Ride-hailing app: Bolt or Yandex works; both accept foreign cards for your first rides.
3. Map out bank branches near your accommodation. TBC and Bank of Georgia have massive networks; Liberty and BasisBank are popular too. My tip: the TBC flagship branch on Freedom Square has the fastest English service.

Day 3: Visit the Public Service Hall (optional but handy)

This futuristic, leaf-shaped building lets you:

• Get a Georgian taxpayer number (like a social security code) for deeper financial services later.
• Register an address if you plan to stay 6+ months and want residency.

Neither is required for a basic account, but they’re future-proof.

Day 4–5: Bank Day

Walk in mid-morning (avoid Mondays and lunch hours) with:

• Physical passport
• Local phone with working Georgian number
• Cash deposit (100–200 GEL is enough)
• A smile; the teller will likely speak decent English, but Georgian politeness goes a long way. A simple “გმადლობთ” (gmadlobt – thank you) earns massive bonus points.

The Step-by-Step at the Counter

1. Fill the brief KYC (Know Your Customer) form.
2. Choose account type:
   ‑ Current account in GEL with optional multi-currency sub-accounts.
   ‑ Debit card (Visa or Mastercard) for circa 20–30 GEL annual fee.
3. Decide on internet banking and mobile app access—always say yes.
4. Sign paperwork (digital tablets, super quick).
5. Cash deposit or bank transfer (some branches insist on any deposit to activate).

Total time: 30–60 minutes. Cards are printed on the spot or ready next day; TBC even offers metallic premium cards if you’re into that Icelandic-fjord aesthetic.

Banking Decision Matrix: Which Georgian Bank Fits You?

As a relocation coach, I nudge most newcomers toward TBC or BoG for their slick apps and widespread ATMs. Liberty is fine if you land in smaller towns where the big two have limited presence.

Budgeting Tips for the First Month

Congratulations, plastic (or virtual) card in pocket! Now let’s keep your lari from slipping away faster than a marshrutka driver overtaking on a hairpin bend.

1. Understand FX Realities

• ATMs dispense top-up currency (USD/EUR) too, but the spread can be wide.
• International transfers: Wise (formerly TransferWise) to Georgian IBANs are fast and cheap.
• Crypto to GEL ramps exist (Binance P2P, local OTC desks) yet be mindful of ever-changing rules.

2. Set Your Cost-of-Living Baseline

Quick benchmarks in Tbilisi (2022–2023 averages):

• Downtown one-bed flat: 1,400 – 2,000 GEL/month
• Meals out: 15 GEL for khinkali & beer, 40 GEL for trendy fusion brunch
• Co-working: 300 GEL/month
• Health insurance (private): 120–250 GEL/month

For a deeper dive on accommodation hacking (albeit in another European capital), peek at our guide to finding furnished apartments in Prague. Many of the negotiation tactics apply equally well in Tbilisi’s hot districts like Vera and Saburtalo.

3. Segment Your Money Envelopes

Most Georgian banking apps let you create “vaults” for rent, tax, travel. Move lari the moment your salary hits to avoid accidental supra splurges.

4. Watch Cash Burn

Georgia is card-friendly, but farmer’s markets, old-town bakeries and marshrutkas stay cash-only. Withdraw 200–300 GEL weekly; anything more and you’ll find ways to spend it.

5. Don’t Fear the Fees

Typical fees:

• Domestic transfers inside same bank: free
• Inter-bank transfer: 1 – 2 GEL
• Utility payments via app: free to 1 GEL
• International SWIFT outbound: 0.2–0.5% (min 30 USD)

Plan your remittances monthly rather than ad hoc to minimise repetitive SWIFT charges.

Tools and Local Resources to Super-Charge Your Financial Setup

Mobile Apps & Fin-tech Favourites

• TBC Bank / BoG Apps – intuitive, QR-code payments for cafes, in-app utility pay.
• Pay.ge – central hub to pay government fees, visas, traffic fines.
• Wise – low-cost transfers from 50+ currencies into GEL.
• Revolut – works in Georgia; good for short-term but charges for ATM after 200 EUR monthly.
• XE – real-time FX rates; saves you from doing 1 GEL = 0.34 USD mental math after wine tasting.

Community Hubs

• Expats & Friends in Tbilisi (Facebook): lively group for landlord recs, second-hand furniture, and “Which bank hates crypto this week?” threads.
• Digital Nomads in Georgia (Telegram): crowdsourced intel on everything from fibre-optic ISPs to the juiciest khinkali spots.
• LGBTQ Tbilisi communities: for a glimpse at inclusive spaces, our interview series on LGBTQ digital nomads in Thailand: real voices offers universally applicable safety tips.

Government & Official Data

• NBG.ge – National Bank of Georgia; official FX rates published daily.
• Service.gov.ge – Book appointments at Public Service Hall.

Tales From the Teller: A Quick Anecdote

I once accompanied a Canadian UX designer—let’s call her “L”—to open her account at BoG. She walked in rattled from multiple border crossings, clutching a stack of notarised everything. The rep glanced at her passport, typed for 45 seconds, and said: “Your account is ready; please choose card colour—gold or black?”
Moral: Georgian banks are used to foreigners. Don’t overthink it.

Frequently Asked (but Rarely Answered) Questions

Q: Can I open the account on a tourist visa?
A: Yes. Georgia’s 365-day visa-free regime for 90+ nationalities is enough for a standard personal account.

Q: Do I need a Georgian tax ID?
A: Not for basic banking. You might need it for brokerage, corporate accounts or residence permit applications.

Q: Are bank deposits safe?
A: The Deposit Insurance Agency covers up to 15,000 GEL (~$5,000). For higher sums, consider split accounts.

Q: What about joint accounts with my partner?
A: Possible, but both parties must appear in person with passports. Same-sex couples face no legal obstacle at the bank level, though you may encounter the odd surprised eyebrow.

Q: I heard about remote account opening via video call—still real?
A: During Covid, banks experimented with it, but as of late-2022 most reverted to in-branch identity checks. Watch this space; policy flips faster than a khachapuri in a clay oven.

Wrapping Up: Your First Month Banking Sprint

1. Prep documents before departure
2. Secure local SIM on arrival
3. Choose TBC or BoG for easiest onboarding
4. Deposit a starter sum and activate mobile banking
5. Segment budgets and automate FX transfers
6. Leverage local apps and communities for ongoing intel

Open account: checked.
No-fee ATM withdrawals: checked.
Mental bandwidth freed up for vineyard road trips: double-checked.

When you’re ready to stitch your bank setup into a full-blown relocation strategy—housing, taxes, healthcare, the lot—BorderPilot’s data-driven engine and human experts are one click away. Create your free relocation plan today and let’s make Georgia feel like home, sooner rather than later.