For non-residents it is especially important to open a private bank account with such a bank in Georgia that has a high level of liquidity and reliability, a positive reputation, quality service, offering a full range of banking services. TBC Bank has all the characteristics mentioned above. It has been operating in the financial services market of Georgia since 1992, and during these 28 years has become the leader of the country’s banking sector. Opening a private bank account with a Georgian bank is very much advisable to foreign businessmen who are already operating or planning to incorporate a company in Georgia. It also makes sense to use your private account with TBC Bank to receive dividends, wages, revenues from your customers by means of replenishing the account, to service your cryptocurrency transactions. In addition to the high quality of service, this Georgian bank will also provide a high level of confidentiality. Since Georgia does not participate in the automated financial data exchange with the tax authorities of different countries, no information about any money transactions of the clients of Georgian banks is submitted.
You can save time and acquire an efficient instrument for making settlements in Georgia and abroad with the assistance of the Offshore Pro Group. Our specialists will help you open a bank account online without having to visit TBC Bank, with no banking operations, in just a few days and without visiting Georgia. The cost of this service is 2999 EUR.
Why Would an Individual Open a Bank Account with TBC Bank? What is Remarkable About this Bank?
TBC Bank is the first largest bank in Georgia in terms of assets, capital, net profit, credit and deposit portfolios (as of early 2019). It has more than a third of the Georgian banking market and serves more than 83% of the country’s adult population. The number of retail clients of the bank reaches 2.4 million. The bank serves 139,000 clients from the small and medium-sized business segment and 3,000 companies from the corporate segment.
TBC Bank has achieved significant results in the Georgian banking market. As of 01.07.2019, the share of this financial institution in the Georgian banking system was as follows:
- assets 39.1%;
- loan portfolio 38.5%;
- retail loan portfolio 39.6%;
- loan portfolio of legal entities 37.3%;
- deposit portfolio 41.0%.
TBC Bank’s shares are also in the premium segment of the London Stock Exchange and are part of the FTSE 250.
The success of the financial institution in the Georgian market is driven by:
- a wide range of banking services available;
- an extensive network of offices throughout Georgia (148 units);
- stability and reliability of operations. The bank has been recognized as the best financial institution in Georgia (“Georgia’s Best Bank of 2019” according to the Global EMEA Finance Magazine, as well as according to Euromoney, it was “The Best Investment Bank in Georgia in 2018”);
- high quality of service.
The bank’s interests are not limited to banking services. The owners of the financial institution have established a group of the same name, which includes both Georgian and foreign companies operating in the financial sector, as well as working with real estate, assets, etc. The TBC Group of companies, in addition to the bank also includes:
- United Financial Corporation LLC, specializing in card processing;
- TBC Capital LLC, brokerage services;
- TBC Leasing LLC, leasing services;
- TBC Credit LLC (Azerbaijan) is a non-bank financial institution that lends to individuals and entities;
- Banking Systems Service Company LLC, information services;
- TBC Pay LLC, processing services;
- Index LLC, real estate management;
- Real Estate Management Fund JSC, real estate management;
- TBC Invest LLC (Israel), public relations and marketing services;
- TBC Insurance JSC, insurance services;
- BG LLC, asset management;
- TBC International LLC, asset management;
- Swoop JSC, real estate sale;
- GE Commerce LLC, real estate sale;
- Online Tickets LLC, software services;
- All Property Go LLC, real estate management;
- Inspired LLC (Uzbekistan), processing services.
TBC Bank provides a full range of financial services to both individuals and legal entities. The bank works with a large number of foreigners, as it offers all the necessary services: private accounts, deposits, payment cards, money transfers, insurance, banking, etc. And what is especially important to the non-residents, it is possible to open a bank account with TBC Bank online, without having to visit the bank in person. This service is available to individuals. So, it makes the whole procedure simplified. You can get easy access to the service and save your time. With the assistance of the Offshore Pro Group, it will be possible to open a private account with TBC Bank in just a few days. Opening an account on their own is rather difficult for foreigners as they would have to fill out the bank forms in Georgian.
TBC Bank Main Services for Non-Resident Individuals
TBC Bank offers the most comprehensive list of retail banking services available to foreigners. Let us look at the most popular and necessary financial offers for individuals.
Open a Bank Account with a Georgian Bank Remotely and Take Advantage of Deposits
At TBC Bank, non-residents can place the money they have on a deposit account, both for the purpose of safe-keeping and accumulating finances to buy something they need or to obtain passive interest income.
It should be noted that deposit insurance against the possibility of bank insolvency was introduced in Georgia quite recently (01.01.2018). To date, the state guarantees the return of money in the event of bank failure in the amount of no more than 5,000 lari.
TBC Bank provides the opportunity to open a bank account online without visiting the bank to individuals, as well as to place money on one of these deposits:
- Term Deposit: a deposit with no right to early termination of the contract. It is designed for depositors wishing to save and multiply what they have;
- Term Deposit Plus is a deposit similar to the previous one in most parameters, but with the right to replenishment;
- My Goal gives you an opportunity to start saving money with a small amount;
- My Safe Deposit Box provides continuous round-the-clock access to your money;
- Children’s Deposit is a replenishment deposit that is designed for parents wishing to accumulate money by their child’s adulthood;
- Savings Deposit allows the depositor to manage their money without restrictions, as well as to receive a small interest income.
Conditions for opening the deposits mentioned above:
|Name||Quoted Interest Rate||Term, months||Minimum Amount||Fees|
|Term Deposit||in lari 6.15 to 9.7%in USD 1.1 to 3.25%in EUR 0.15 to 0.55%in GBP 0.4 to 1.45%||3 – 24||500||—|
|Term Deposit Plus||in lari 6.65 to 9.2%in USD 0.95 to 3.0%in EUR 0.1 to 0.5%in GBP 0.3 to 1.3%||3 – 24||500||—|
|My Goal||in lari 6.65 to 9.2%in USD 1.15 to 3.1%in EUR 0.1 to 0.5%in GBP 0.4 to 1.4%||3 – 24||5||—|
|My Safe Deposit Box||in lari 5.50%in USD 1.0%||No||No||– account opening is 10 lari- withdrawals/transfers are 0.25% in foreign currency/0.2% in lari- banking operations are free|
|Children’s Deposit||in lari 9.70%in USD 3.25%in EUR 0.2%in GBP 1.2%||Minimum 24||10||—|
|Savings Deposit||in lari 2.0%in USD 0.5%||No||No||– account opening is 10 lari (free if the deposit is more than 100 lari/currency equivalent);- maintenance fee is 0.9 lari per month;- withdrawal of money deposited on the account by bank transfer is 0.25% in currency / 0.2% in lari|
Also, the bank offers their clients deposit certificates, piggy bank services (when a certain amount is transferred to the deposit account after each transaction).
TBC Bank Plastic Card Types
TBC Bank will be able to open you a bank account online without you having to visit the bank and issue your payment cards, both classic and premium, by the international systems of VISA and MasterCard. With their help, foreigners can withdraw money from their accounts in Georgia while in another country.
Basic rates for non-resident payment card service at TBC Bank:
- maintenance is 30 lari per year for standard cards, 90 lari per year for premium (Gold) cards;
- validity period is 4 years;
- withdrawal fee at the ATMs of TBC Bank, VTB Bank, Liberty Bank, Halyk Bank, Invest Bank, Basis Bank is 0.2%, minimum fee is 0.2 lari;
- cash withdrawals from other banks’ ATMs is 2%, minimum fee is 3 USD/EUR or 6 lari.
|Operations||Standard Visa and MasterCard, lari||VISA and MasterCard Gold, lari|
|weekly, for shopping payments||50,000||100,000|
|daily, for withdrawals in banks||without restrictions at TBC bank and 10,000 lari at other banks||without restrictions at TBC bank and 35,000 lari at other banks|
|daily, for ATM withdrawals||5,000||15,000|
|weekly, for ATM withdrawals||25,000||75,000|
Premium payment cards do not only have increased limits, but they give a cardholder a lot of advantages, including access to such services as a personal manager, travel insurance, accrual of increased interest on deposits.
At TBC Bank, foreigners will be able to open a settlement account online without having to visit the bank, and use such a service as “Payment Sticker.” This is an innovative service, the exclusive supplier of which in Georgia, South-Eastern Europe and the Caucasus region is TBC Bank. The “Payment Sticker” is a sticker that can be attached to your phone or any other item (but only once, you cannot re-stick it). Next, you can pay for your goods and services at the store checkout just by bringing your phone with a sticker to the POS terminal. Purchases of up to 45 lari will not require entering your PIN.
Conditions of use for the VISA Sticker:
- validity period is 2 years;
- maintenance fee is 12 lari per year;
- daily limit is 4,000 lari.
Ways to Access Your Settlement Account with a Georgian Bank Remotely
The possibility of opening a settlement account online without having to visit the bank is very convenient for foreigners, but in order to efficiently control your money you still need to have uninterrupted access to your account for the cash flow remote management.
At TBC Bank, clients can use the following services to remotely access their accounts:
The token cost is 10 lari. There is no fee for transfers between your own accounts, currency exchange, mobile phone account replenishment. Utility payments are 0.5 lari.
With the help of Internet banking, non-residents can check their account balances, form statements, make transfers between their own accounts, open deposits and replenish them, view exchange rates and carry out currency exchange transactions, apply for other banking services.
All payments between you won accounts are free. There is also no service fee, and a standard fee is withheld for transfers to other accounts.
Mobile banking gives the client access to all of their accounts with TBC Bank. The user will be able to effect payments, replenish the mobile phone account and carry out other financial transactions from anywhere, just using their smart phone.
This service is free for the tariff package users, in other cases the cost of connection is only 1 lari. With SMS banking, the client can carry out all standard financial and banking operations, having previously sent a special command to number 27 27.
In addition to the above mentioned services, foreigners who wish to open a settlement account with TBC Bank online without having to visit the bank, can use direct write-off, unlimited transfers via the Internet, the TBC Wallet service.
Businessmen working in the IT sector are advised to consider an offer to incorporate an IT company in Georgia with a EuroPay account.
Open a Private Account with the Georgian TBC Bank. Basic Terms of Service
TBC Bank allows you to open a settlement account online without having to visit the bank, but it is not the only advantage of using the services of this financial institution. Thanks to having a private multi-currency account (lari/USD/EUR/GBP/CHF), foreigners can:
- make payments and transfers;
- exchange currency;
- view the balances on the accounts.
And you will be able to do all of the above remotely, being in another country.
Here are the basic rates for the private account maintenance at a Georgian bank:
- account opening is 10 lari;
- monthly fee is 0.9 lari;
- cash withdrawal is 0.2% for lari, 0.6% for foreign currency.
Also, the Georgian TBC Bank offers non-residents to be attended under the tariff packages:
- Gamarjobah is for new clients;
- Universal is for those clients who use banking services from time to time. It provides for the issuing of standard payment cards, i.e. Visa/MasterCard;
- Status is for those individuals who are pro-actively working with the bank. As part of this package, Gold premium payment cards are issued, and the clients can also enjoy other financial services on more favorable terms, that is higher interest rates on deposits, free cash withdrawals in ATMs.
Cost of tariff packages:
|Monthly fee, lari||Annual fee, lari|
Under the terms of service at the bank, if a non-resident pays the cost of the tariff package for the year right away, they will be able to save a little on the fees.
Opening of a Bank Account in Georgia for Foreigners. Other Financial Services
At TBC Bank, foreign individuals can also use the following services: get a credit card issued, get a mortgage, conclude a motor vehicle insurance or a travel insurance contract, make international transfers via the Western Union, Moneygram, Unistream, Golden Crown, etc.
Strengths of Service at a Georgian Bank for Foreigners
The advantage of service at TBC Bank is the possibility to use high-end financial services for a much lower price compared to the EU and CIS banks. And here there is no need to “freeze” the money to comply with the minimum required balance in the account. In addition to this strong service side at TBC Bank, it is important for non-residents to know the following:
- you will enjoy high level of confidentiality since Georgian banks do not submit financial information to the tax authorities of other countries in accordance with the CRS system;
- you will have no communication problems since the TBC Bank employees speak English, French, Russian and other languages;
- you will enjoy remote access to your accounts and other banking services as well as manage your cash flow from anywhere in the world;
- the bank has an extensive branch network that covers the entire territory of Georgia.
Opening of a bank account for foreign individuals online without having to visit TBC Bank is recommended for receiving salary or other types of regular income, dividends, servicing cryptocurrency transactions.
Brief Description of the Procedure. How Do I Open a Private Account in the Leading Georgian Bank, TBC Bank?
It is easy to open a bank account with a Georgian bank remotely without having to visit the country with the assistance of the Offshore Pro Group. Conventionally, the entire process of registration consists of the following steps:
- You email us to firstname.lastname@example.org.
- Our specialist will promptly contact the client to discuss the details of the upcoming cooperation, as well as the parameters and terms of your private account service.
- The client pays 2999 EUR for our service.
- After that you will need to agree with our lawyer on the text of the Power of Attorney authorizing the opening of your private account with TBC Bank.
- You will need to notarize the Power of Attorney and send it to our representative in Georgia together with a notarized copy of your travel document and a questionnaire.
- Your private account with TBC Bank will be opened.
- We will send you your private account papers, your plastic card and the devices to generate passwords.
If you are interested in opening a personal account with TBC Bank which can be efficiently used for international settlements, cryptocurrency transactions, dividends, feel free to email us to: email@example.com.
What Do Non-Residents Open a Private Account with a Georgian Bank For?
The private account with a Georgian bank is necessary when you buy real estate in Georgia, or receive dividends and wages. Having an account will increase the speed and quality of payments within the country for you. The private account with a Georgian bank gives you an opportunity to start cooperating with Georgian banks.
Why TBC Bank?
TBC Bank is the leader of Georgian banking system and the best bank in the country. A third of Georgia’s individuals and legal entities are using the services of this bank. At TBC Bank, you can not only open a private account for non-residents, but also use other various banking services.
Does Georgia Have a Deposit Insurance System?
Yes, it does. Georgia has a deposit insurance system. It only protects deposits of no more than 5,000 lari or another currency equivalent.