Three more comments about Georgian banks:
1. If the government thinks you owe them any tax then they can deduct the cash directly from your account. No court order or anything needed. Then the account holder must fight the government in its own court system to try and win the funds back. The bank stays out of it / does not help. It has not happened to me for business account transactions but they did do that to my personal TBC account when I was slow / past the due date for paying some import VAT I owed for importing some personal items from the︀ USA. The government just took it from my personal account. No warning, no discussion, and︁ the banks comply as its the law in Georgia.
2. Bank deposit guarantee amount in︂ Georgia is peanuts, unlike EU banks at 100k.
My two cents worth? I wouldn’t touch︃ a Georgian bank unless I had fully legit business in Georgia and maintain regular inwards︄ and outwards payments from ‘clean’ countries and every month show normal business activities payments (wages,︅ taxes, expenses, etc).
As for funds coming or going to countries like those listed in︆ the BoG SOLO rules quoted above… then definitely advise / warn the bank in advance︇ so they know what is going to happen and give them proof of legitimacy and︈ maybe they will accept it. I prefer to use an EMI like WISE for such︉ transfers but who knows if or when they might also start just rejecting transfers to︊ / from such listed countries simply because its quicker and easier to reject rather than︋ put in the time and effort to confirm legitimacy? It’s probably a universal problem with︌ banking these days.
ADDITIONAL NOTE: Paysera is a registered bank in Georgia - so will︍ be subject to same local laws and rules as the other Georgian banks. Just in︎ case anybody saw the earlier mention of Paysera and didn’t join the dots that Paysera️ advantages will be More limited since its a registered bank in Georgia. Time will tell how Paysera Georgia works for expats - but I will not be amongst the first to try it out.
