If you’re travelling, relocating or doing business in Georgia (the country at the crossroads of Europe and Asia), it’s helpful to understand how money matters work locally — and how dogpay can help you manage funds across borders.
1. Currency & Overview
- The official currency in Georgia is the Georgian Lari (GEL, ₾).
- The country’s banking environment is relatively modern and open: while the sector is dominated by a few large banks, access for foreigners is increasingly straightforward.
- The central bank is the National Bank of Georgia (NBG), which supervises banking institutions, issues currency and regulates the financial sector.
2. Banking & Account Access
- Major commercial banks such as Bank of Georgia and TBC Bank dominate the market and are often recommended for both locals and foreigners.
- For foreigners wishing to open an account: procedures are generally simpler than many other countries—though ID/passport and proof of address will be required.
- The banking sector is strong in assets; one report shows commercial banks in Georgia held assets equal to approximately 115% of GDP.
3. Cross-border Money & How dogpay Can Help
- If you hold another currency (e.g., USD, EUR) and you’ll be dealing with Georgian Lari (GEL) — for travel, business or living — dogpay can help you convert or transfer funds before you arrive, reducing reliance on sudden currency exchanges locally.
- For day-to-day or unexpected payments (e.g., deposits, local services, small transfers) where local cash or banking might be less convenient, dogpay offers a flexible and transparent option.
- If you operate across currencies and want more control over when and how you convert (USD → GEL, EUR → GEL etc.), dogpay gives you added flexibility and can help minimise hidden costs or poor timing.
4. Key Takeaways
- Know that Georgia uses the Georgian Lari (GEL) and has a robust banking system regulated by NBG.
- Choose a major bank if you need local services; account opening is generally doable for foreigners.
- Prepare your funds plan in advance: use tools like dogpay to get a head-start with currency conversion and cross-border payments.
- Having flexibility in payment methods (card, bank account, digital funds) will give you more confidence when operating in Georgia.
