Georgia, known for its open approach to foreign investment and business, offers convenient banking services for both residents and non-residents. While opening a bank account in Georgia remotely can present certain challenges, closing a bank account in Georgia remotely is possible by contacting the appropriate service providers, such as our company. This option is ideal for individuals who have opened a bank account in Georgia but are unable to visit the country in person to close it.
How to Close a Bank Account in Georgia?
Most Georgian banks provide remote account closure services by power of attorney, although the process may vary slightly depending on the bank. The main steps include:
1. Document Preparation
To begin the process, you need to prepare a set of documents verifying your identity and right to close the account. These typically include:
- A copy of your passport or ID
- Account closure request (completed according to the bank’s requirements)
- Power of attorney (if the account is being closed remotely through a representative)
For Individual entrepreneurs it’s important to liquidate business first.
2. Contacting the Bank
To initiate the account closure process, you need to contact the bank through official channels, such as internet banking, email, or customer service phone support. Most Georgian banks offer online banking, making it easier to manage your account remotely.
3. Submitting the Account Closure Request
Once all necessary documents are provided, the bank will request an account closure application. This can usually be completed online or sent via email. In some cases, the bank may require a notarized application.
4. Settling the Balance and Closing the Account
Before closing the account, the bank will check for any remaining balance or outstanding debts. If there are remaining funds, you will be asked to transfer them to another account. It is also important to ensure that all fees and liabilities owed to the bank are settled.
5. Confirmation of Account Closure
Once all steps are successfully completed, the bank will send a confirmation of account closure. This may be sent via email or through the internet banking system.
Which Banks in Georgia Allow Remote Account Closure?
Most major banks in Georgia offer remote account closure via power of attorney. Some of the most popular banks providing this service include:
- TBC Bank
- Bank of Georgia
- Liberty Bank
- Credo Bank
Requirements may vary, but in most cases, a power of attorney and a representative are needed.
Key considerations for closing a bank account remotely
1. Fees
Some banks may charge a fee for remote account closure. Be sure to clarify this before starting the process—or we can inform you about it.
2. Access to Funds
Ensure that you have the ability to transfer remaining funds to another bank account before closing your account. Banks may refuse to close an account if there are unused funds left.
3. Legal Requirements
Some banks may require additional documents or notarized signatures. It is important to confirm all necessary requirements in advance to avoid delays.
Need Assistance?
Contact us, and we will help you close your bank account in Georgia remotely.
