Problems with Georgia because of Russia

[ahassanmaly]

Thanks for your input
I have been working this way since‌ 2013 and it was Ok
Yes from time to time they would stop a transfer,‍ a couple of basic questions asked and transfers released.
Never had any real issues until⁠ this whole Russia / Ukraine drama started unfortunately

Your advise is highly appreciated but it⁤ would result in losses on exchange rates when transferring USD to GEL or to AED⁣ or EGP, don’t you agree ?

Crypto unfortunately I am not familiar with it and⁢ I don’t think its easy to deal with in Egypt

The problem with the business︀ I am doing is it mainly depends on USD globally

 

[MiddleEuroAsia]

Yes, that was when you were⁤ able to walk in to any TBC or BOG bank and open a multi currency⁣ account in 5 mins, unfortunately these days are over
Transferwise has one︁ of the best exchange rates in the world (xe.com is also good but to a︂ lesser extent). you won't lose much with transferwise and it's - in my opinion -︃ a necessary sacrifice
Don't touch it︅ if you are not familiar with it and just read about stablecoins like USDT and︆ USDC and use these as your main crypto.

Regarding cashing out in Egypt It's very︇ very easy, you can cashout via plenty of methods, either via:

1- ADVCASH (they can︈ give you CASH in USD or EGP in Egypt but 5000 USD is their minimum,︉ similar to western union in a way, but they take 5% fees, which I assume︊ you want to avoid)
2- CEX.IO (Direct bank transfers are avilable)
3- Facebook groups, but︋ you need an Egyptian friend/translator or a good ability to use google translate, or if︌ you are Egyptian, it's way easier. These groups fees range between 0.2 to 0.8%.
4- P2P/OTC transactions. meaning you sell crypto to some local Exchange/company and they give you the︍ equivalent in fiat via wire transfers or cash
then transfer️ money to UAE with AED -> then from UAE to Egypt or vice versa with‌ USD, USD transactions accross the middle east are normal. UAE, Egypt, bahrain...etc.

 

[ahassanmaly]

Thank You for all your advise
Appreciate it

 

[5K1PP3R]

What address do you have in BOG? They have two addresses in the profile section,‌ check both of them and make sure they are not Russian ones. Check your SWIFT‍ pdf, does it say RU by chance? I had this issue and I had to⁠ go to Georgia and update in the office. And I had to insist they update⁤ both addresses

 

[ahassanmaly]

Never had any connection or Address in Russia⁣
Thanks