Banks and transfers in Tbilisi

Tbilisi’s banking system: what to know before your first branch visit

Banking is one of the first questions anyone who has moved — or is planning to move — to Tbilisi has to answer. Georgia’s financial system is open to non-residents, but the rules have tightened considerably since 2022–2023. Knowing which bank to choose, which documents to prepare, and how transfers from Georgia work will save you days of waiting and unnecessary trips to a branch.

How to open a bank account in Tbilisi: banks, documents, and realistic timelines

Two banks dominate the market and are most welcoming to foreigners — TBC Bank and Bank of Georgia. Both rank among the region’s most reliable, offer fully featured mobile apps in English, and have extensive branch networks across the city.

To open an account in Tbilisi as a Russian citizen, you will need:

• International passport (Russian domestic passports are not accepted by banks)
• Personal Number — the Georgian TIN, obtained at the House of Justice (სახლი სამართლიანობისა, known as ’Sakhli’). The process takes 1–3 working days and costs around 5–15 GEL
• Proof of residential address — lease agreement, utility bill, or letter from the landlord
• Proof of income source — foreign account statement, employment contract, sole proprietorship registration in Georgia, or an offer letter from an employer

Insider tip: following the wave of account openings in 2022–2023, both banks introduced internal compliance filters. Even with all documents in order, a manager may request an additional interview and ask about the nature of your transactions. Prepare a short, coherent explanation of your activities — it will speed things up. Opening through TBC is sometimes faster (an online application followed by an in-person visit is available); Bank of Georgia is preferable for those planning to set up a legal entity or sole proprietorship in Georgia.

Comparing banks in Tbilisi for foreigners

Prices in the table are market reference points: government fees and third-party rates at the time of publication. These are not SVOY prices — our service fees are provided on request and in the ’Services’ section.

Transfers from Tbilisi: routes, fees, and pitfalls

SWIFT transfers to Europe and the US from Georgian banks work without restrictions. This is one of the key reasons Tbilisi has become a financial hub for businesses operating with Western markets. A typical fee is 15–30 GEL for an outgoing transfer, plus correspondent charges.

For transfers to Russia the situation is different. Available channels:

• Western Union — operates through branches and partner locations, limits vary
• Unistream — present in Georgia, allows transfers in rubles; the fee depends on the amount and payout method
• Contact, Zolotaya Korona — available through individual agents; confirm that a specific agent is currently operational before proceeding.

Key insight: a Georgian bank card (Visa/Mastercard) barely works in Russia — most Russian terminals are disconnected from international payment networks. Do not rely on a Georgian card for payments within the Russian Federation.

Within Georgia, transfers between individuals are free or cost 0–1 GEL via both banks’ mobile apps. TBC Pay and BOG Pay are convenient aggregators for paying utilities, internet, and mobile bills directly from the app.

Common mistakes

1. Going to the bank without a Personal Number. No major bank will open an account without a Georgian TIN — visit the House of Justice first, then the bank.
2. Underestimating compliance requirements. Arriving with only a passport and assuming that is sufficient is no longer enough. Since 2023, proof of income is a mandatory part of the document package.
3. Opening an account at the first branch you find. Different branches of the same bank vary significantly in speed and compliance officer flexibility. Branches in Vake and in business centres are more accustomed to working with foreigners.
4. Counting on a Georgian bank card for trips to Russia. This does not work. You will need a separate solution — cash or cards on the Mir / UnionPay payment systems.
5. Ignoring a foreign-currency account. Many people open only a GEL account, while a multi-currency account (USD/EUR) is critical for SWIFT transactions and working with international clients.
6. Sending large transfers without notifying your bank. An incoming SWIFT of 10,000 USD or more without prior explanation can freeze your account pending verification of the source of funds. It is better to inform your manager in advance or prepare supporting documents.

Practical takeaway

For most freelancers and IT professionals, the best choice is TBC Bank with a multi-currency account and TBC Pay connected. Entrepreneurs registering a sole proprietorship or LLC in Georgia should consider Bank of Georgia — it is better suited for business operations and working with foreign counterparties. In both cases, the key to opening an account quickly is a complete document package and a clear answer ready for the question ’What do you do and where does your money come from?’