Banks from Georgia - experiences and feedbacks

sialala

Building Trust
Entrepreneur
Guys any feedbacks or experiances with these banks ?
Which bank doesn't have problems with huge amounts , openning an acc for EU citizens etc.
Any problems with accs or withdraws ?
Every feedback is valuable.

or maybe another country from non CRS will be better ?
Cheers from sialala !
 

Bmw850

Trusted Member
Business Angel
What do you mean huge amount ?
I do 7 figures monthly with Terabank .... everything smooth since 2 years+.
No problem with wire transfer incoming and outgoing ( i always load the invoice on their platform when i make a wire ).
The withdraw with card is the biggest i had.
This week i will got a new bank , TBC , i will make a feedback after some use.
 

Martin Everson

Offshore Consultant
Business Angel
Mentor Group
Which bank doesn't have problems with huge amounts , openning an acc for EU citizens etc.
I have experience with the following banks in Georgia:

Bank of Georgia
TBC
VTB
Liberty
ProCredit

All banks now have issue with high amounts other than private banks. Times have changed since when I opened and funded these accounts with one time lump sums. Are you talking business or personal account?

Terabank is a UAE royal family owned bank so maybe a bit easier there ca#"!
 

Martin Everson

Offshore Consultant
Business Angel
Mentor Group
Forget Georgia now.


I am closing all my accountants down with immediate affect. I have wired out all my money from my accounts there so far on advice of a local friend and waiting for it to arrive now. Sorry, but I don't want to be the last sucker with money in a Georgia if war breaks out. I have been watching closely the protests and its taken a turn. Some crazy Georgian TV presenter insulted Putin and his dead parents with obscenities on live TV for nearly a minute...lol.


P.S Georgia is on mission self destruct. BOG's share price has already fallen since 1 month since hostilities started. Investors are also leaving and so am I.....lol. Bye bye Georgia.
 

Martin Everson

Offshore Consultant
Business Angel
Mentor Group
Whats a good alternate location (bank and country) to wire to?
Anywhere where the political, economic and risk of armed conflict are not as high as they are right now in Georgia.

Tensions are high and a risk of capital controls by central bank if more investors dissappear is a possibility. Their economy is gonna take a hit from ban on exports to Russia, tourism etc etc. Georgian ultra nationalists could do something right now that would destroy everything Georgia has achieved since the last Russian conflict. Good luck to these idiots...lol.
 

Nishizawa

Member
Forget Georgia now.


I am closing all my accountants down with immediate affect. I have wired out all my money from my accounts there so far on advice of a local friend and waiting for it to arrive now. Sorry, but I don't want to be the last sucker with money in a Georgia if war breaks out. I have been watching closely the protests and its taken a turn. Some crazy Georgian TV presenter insulted Putin and his dead parents with obscenities on live TV for nearly a minute...lol.


P.S Georgia is on mission self destruct. BOG's share price has already fallen since 1 month since hostilities started. Investors are also leaving and so am I.....lol. Bye bye Georgia.
Thanks Martin. If I didn't read this post, my money would be fucked...

Including Georgia, I recently hear news of diplomatic disputes taking place around me. US and China. Hong kong and Beijing. And now even South Korea and Japan started chicken game.

Now I understand why people are enthusiastic about Swiss banks untill US destroied it... I learned the importance of political stability this time.
 

bigladsmith

Building Trust
Entrepreneur
Mentor Group
I get some info on Montenegro very recent.

Early in 2019 all banks stop opening new accounts for foreign persons, some government problems, maybe corruption, who knows.

Then in May 2019 a contact tells me he can open new account for me, €1800 cost, must be in person, personal visit required. Cost too much for me.

Then I email bank directly this week, response is

Dear Mr ,

Thank you for contacting Prva banka Crne Gore and for considering us as a potential business partner.

The procedure for opening a retail account in our bank as a non-resident requires that you visit one of our branches, with a valid passport, and submit a request to open account. After that our helpful colleagues will handle the rest. Physical presence is necessary!


Current account can be open by non-resident with regular or periodic income in domestic payment operations in Montenegro.
The personal account for the domestic payment transaction can be in Eur only.

For foreign payment transactions, you need to open this account ,while the account for foreign payment transactions can be in currency from our list .

Also, as a non-resident we recommend you to activate the Ebanking Service. More information about this service can be found on the following link:

· E-banking | Prva Banka Crne Gore


Maybe this info help people
 

Martin Everson

Offshore Consultant
Business Angel
Mentor Group
A blog I saw on opening accounts both business and personal in Montenegro

 

Nishizawa

Member
All non crs banks You can find here Banking Privacy: 13 non-CRS countries that don’t exchange information | Nomad Capitalist . Other alternatives for Georgia. Maybe Montenegro ? What You think about this country guys ?
At least not a paraguay. I heard their banking system is poor. Also paraguay bank doesn't accept non resident.

Depending on the country, US can be a good substitute. Some countries do not receive information about 0% interest checking accounts from the United States.(Depending on the content of the FATAC with that country!) I confirmed this from an interview of my government tax departure staff.
 

sialala

Building Trust
Entrepreneur
I tought about Georgia but now, after Anti-Putin tv show I would like to go to Montenegro.
 

khan

Corporate Services
BANNED MEMBER
Business Angel
Mentor Group
Georgia is not bad at all, however, you may read a view other threads where it's pointed out that things can change any time and you are pretty much f.... banking there. So Montenegro may indeed be an alternative if it's possible to open any banking there.
 

companix

Mentor Group
Mentor Group
Poland or Hungary Banks can be opened account for Ltd, but need to Come to bank
 

OTR365

Building Trust
Entrepreneur
^ I did two transfers from Bitfinex to TBC. Because of the Tier-3 banks Bitfinex use (or because the amount was above 10K USD), I got hit by an AML questionnaire. Apparently their compliance was satisfied by my reply. Subsequently I also did a transfer from Bitstamp with no issues.

As to Kraken, if you need to use their partner Etana custody to withdraw, don't bother. Etana only allows withdrawals to a country you are resident.

I heard that last year TBC froze a 7-figure account of a foreign businessman. His friend (from whom I heard about it) claimed this businessman is 100% legit. I have my suspicions, but at least we can conclude TBC has a compliance team.
 

User76

New Member
sialala
I had a problem with Georgian bank, sent back my money to kraken. Explanation about trading didn't work.

. Apparently their compliance was satisfied by my reply. Subsequently I also did a transfer from Bitstamp with no issues.
Could you explain what the reply was? Just trading on crypto platform?
 

OTR365

Building Trust
Entrepreneur
Could you explain what the reply was? Just trading on crypto platform?
I told about my personal background and plans for Georgia, net wealth, my relationship with the platform from where the money came, plus a screen capture of the withdrawal. All truthfully, though it was easy since I wasn't that heavily into crypto. Their questions were also varied, not just "What is this money?". This was a couple years ago, so things may have been easier back then.

Would you care to tell the name of your bank, so that I can avoid it? I am right now in Georgia and planning to open a 2nd account.
 

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