Do the banks in Georgia allow buy and sell crypto?

[minotari]

I top up my balance at a well known exchange with a georgian bank card, or if I withdraw to it.

BoG and TBC particularly, personal accounts.

 

[MiddleEuroAsia]

Not directly at least, You need to use an EMI (that is crypto friendly) in between your exchange and your Georgian bank account.

Banks in Georgia don't like crypto that much and they don't appreciate it If you received income (no matter the source) from multiple places specially if it's a personal account, so you need an EMI to collect all these payments in single account that is usually under your name and then send this money to your Georgian bank account.

so to summarize .. Your exchange >> Crypto friendly EMI >> your Georgian bank account.

 

[khinkali]

I haven't had these discussions yet; I've just used the Bitcoin ATMs when needed but some people have mentioned that SOLO from Bank of Georgia can be crypto friendly. You would build up a relationship with your manager and discuss the types of transactions so as not to surprise them.

 

[minotari]

Banks in Georgia don't like crypto that much and they don't appreciate it If you received income (no matter the source) from multiple places specially if it's a personal account, so you need an EMI to collect all these payments in single account that is usually under your name and then send this money to your Georgian bank account.

Ok, you've made statements, but what are they based on and how have you measured "that much"?
And what do you mean "don't like that much"? Do the banks emotions?

 

[minotari]

You would build up a relationship with your manager and discuss the types of transactions so as not to surprise them.

How does one build a relationship with his manager? Who is "his manager"? I come to a bank and there're a lot of managers there, who is supposed to be mine?

 

[khinkali]

@minotari SOLO from Bank of Georgia is a kind of VIP banking. You get a relationship manager and you can go and visit them in their lounge where they serve their custom coffee blend. Unlike most countries with VIP banking, you only need to deposit about US $3k per month or keep $20k on deposit.

I haven't tried it yet; I'm with TBC and I don't use my local account very much.

 

[Obelix]

I sent you some money from bitstamp and kraken in 2019, and asked for some docs to see from where the money from.
now send some money from bitstamp and ok, and some from kraken, and again docs and questions and refuse the transfer , and answert this

as I told you during the phone conversation, it may be necessary to confirm the source of income when transferring money.
This is provided by the internal policy of the Bank of Georgia.
The documents you send are not enough to put the transferred amount in the account.
Please note that you cannot transfer the proceeds from the sale of cryptocurrency to the Bank of Georgia account.
In case of transfer, you will need to confirm the source of income each time with an official document and not with screens. (Bank statement or other official document)

and even i asked in kraken for statement....so i understand they dont allow money from cryptos now ,at least in most of cases

 

[rey skywalker]

if they found out you deal with crypto they close the accoutn at once

 

[Obelix]

to me not close, just say that, so no accept money from cryptos
2019 they accepted
Any bank non CRS accept money from cryptos ? looks stupid banks reject it most of them

 

[minotari]

Is using EMI that have to do with crypto deemed as crypto as well?

EMI -> TBC or BoG, or vise versa, that is

 

[Obelix]

im interesting in send money to non crs, if i send to emi (crs) no good
looks armenia will be better choice, will see banks there, for now all i contacted, need to go there to open, but perphas will find remotely, or will go to open, when covid allow to travel in good conditioins