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Banking in Georgia

Just to park some money out of EU
Georgia is more EU than many EU member states. Read the local news which is full of praise for the European Union and a government which fulfills every demand that Bruxelles comes up with.

If you really want to put your feet in any bank in the Caucasus, choose Armenia instead of Georgia.
However, monthly transfers in the amount you mentioned are a bad idea due to high wire costs. You should deposit a lump sum and then pray you will get it back in full.
 
Georgia is more EU than many EU member states. Read the local news which is full of praise for the European Union and a government which fulfills every demand that Bruxelles comes up with.

If you really want to put your feet in any bank in the Caucasus, choose Armenia instead of Georgia.
However, monthly transfers in the amount you mentioned are a bad idea due to high wire costs. You should deposit a lump sum and then pray you will get it back in full.
well said.
 
Georgia is more EU than many EU member states. Read the local news which is full of praise for the European Union and a government which fulfills every demand that Bruxelles comes up with.

If you really want to put your feet in any bank in the Caucasus, choose Armenia instead of Georgia.
However, monthly transfers in the amount you mentioned are a bad idea due to high wire costs. You should deposit a lump sum and then pray you will get it back in full.
Which banks in Armenia do you suggest for banking.
 
Georgia is more EU than many EU member states. Read the local news which is full of praise for the European Union and a government which fulfills every demand that Bruxelles comes up with.

If you really want to put your feet in any bank in the Caucasus, choose Armenia instead of Georgia.
However, monthly transfers in the amount you mentioned are a bad idea due to high wire costs. You should deposit a lump sum and then pray you will get it back in full.
I think it would be helpful to add that wire costs are max $30 per transfer as per my experience. Doesn't seem too high for 3-5k a month.
 
Which banks in Armenia do you suggest for banking.
None of these banks is suitable for non-resident banking. Fees are high and interest rates on USD deposits lower than in Singapore. It is also difficult to do SWIFT transfers. So, from an economic standpoint it is nonsense to even consider Armenia or Georgia for banking.

However, since the OP picked the Caucasus with the intention to bank outside the EU, this purpose is better fulfilled in Armenia because Armenia has no ambitions to please Bruxelles.

ProCredit Bank offers EUR wires at 8€ fixed fee which is not a bad deal.
.... which is a bank headquartered in an EU-jurisdiction.
I doubt the OP Iikes that idea.
 
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