Banking in Georgia

Banking in Georgia

Bank of GeorgiaBank of Georgia

Quick Tip: The Georgian Lari is a closed currency, so be sure to change your money before you leave the country.

Opening a bank account will depend on how much of your stipend you plan on saving each month. Many teachers choose not to open a bank account.

Small exchange kiosks are available in locations all over Georgia. When you are exchanging money, however, you will need to present your ID.

If you’re traveling outside of Tbilisi, make sure you exchange money before leaving on your trip. Exchange rates tend to be higher in rural areas. Overall, prices in Georgia are quite cheap. As such, travelers are advised to carry plenty of smaller notes and coins and many establishments and taxis will not have change for large notes of 50 Lari or more.

The Georgian Lari is a closed currency, so be sure to exchange money over before departing the country. You won’t be able to exchange Georgian Lari in other countries!

ATM and Credit Cards

Some ATMs in Tbilisi accept international ATM cards, but be aware that not all ATMs in Georgia accept foreign cards. Make you sure exchange money before the weekend and during business hours as banks are closed on weekends.

Credit cards are not mainstream in Georgia, and cash is still used for most day-to-day transactions. If you do have a credit card by all means bring it. You can still use it at larger department stores, restaurants or when purchasing airline tickets.

Currency

Georgian MoneyGeorgian Money

The Georgian currency is called Lari (GEL). 100 tetri equals one Lari. Interestingly enough, the word lari is an old Georgian word that means hoard or property, while tetri is an ancient monetary term from the 13th century. We recommend visiting Oanda.com for current exchange rates.

Bills
5, 10, 20 and 50 Lari bills are frequently used throughout Georgia. Lari also comes in 100 and 200 bills, but they are rarely issued.

Coins
Coins are issued in denominations of 1, 2, 5, 10, 20 and 50 tetri. 1 and 2 Lari coins are also used.

Currently $1 USD is equal to 1.7 Georgian lari. We recommend visiting Oanda.com for current exchange rates.

Currency Converters

Please consult the following helpful links for currency conversion:
www.xe.com
www.oanda.com
www.rbcroyalbank.com

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