How to Open an Account at TBC Bank?
TBC Bank generally issues Russian citizens a card in the local currency (GEL) with usage limited to Georgian territory and restricted for online transactions.
- Supports Apple Pay: ✅
- Mobile Banking: Good
- Service Quality: Average
- Chance of Rejection: Medium
Required Documents:
- KYC application (non-refundable application fee of 50 GEL)
- Foreign passport
- Local SIM card
- Proof of income (employment contract, 2-NDFL form, bank statements showing cash flow for 6–12 months)
- It is possible to open bank account in Georgia remotely.
Tariff Plan:
- DEBIT CARD MIX: 100 GEL annual maintenance fee
Reviews About TBC Bank
- TBC denied outgoing transfers from Moscow’s Raiffeisen Bank.
- TBC sent an SMS notifying that the multi-currency account can now include British pounds in addition to the existing three currencies.
- TBC issues limited accounts.
- I frequently use TBC for withdrawing money via crypto from Russia.
- TBC cards are limited to Georgian territory and work only in GEL.
- As far as I know, the restricted “trimmed” cards are only offered by TBC Bank. This is their policy towards non-residents (RF/Belarus). They said they might revise this policy later, but it’s uncertain.
- I decided not to open an account with TBC due to the limitations. They mentioned they might call to inquire about the source of funds. A local SIM card and a foreign passport are required. Bank statements (preferably in English) from the accounts you plan to transfer funds from can be helpful. I provided them in Bank of Georgia along with a tax statement. TBC seems easier as they wanted to verify by phone, though they might request documents by mail later.
- Non-residents can only get limited cards in GEL with transactions restricted to within Georgia.
- I received the card from TBC, checked the balance at an ATM, but the card still showed as inactive in the app.
- In May, SWIFT transfers from Tinkoff to TBC took 2 business days with a $15 Tinkoff fee. I haven’t tried it recently.
- TBC said they wouldn’t open an account due to poor English skills.
- TBC opens accounts in all currencies but only issues cards in GEL for use within Georgia.
- Multi-currency cards are available only to residents with a residence permit (VRP).
- TBC offers “Safe Accounts” in various currencies, which are separate from the card.
- I got a card in GEL at TBC, but the account supports other currencies. However, transferring funds externally is restricted.
- In Kobuleti, I applied for an account with a 50 GEL fee. The card in GEL costs 100 GEL annually. Dollar accounts are available but cannot be used for external transfers.
- Dollar withdrawals at the cashier incur a 0.25% fee. GEL withdrawals from ATMs incur a 0.2% fee.
- In May, a Russian citizen tried to open a multi-currency account and a standard USD deposit. They were only able to open a GEL account with a “My Safe” USD option. In February, TBC introduced new restrictions for Russian non-residents, limiting multi-currency accounts. I’ll try again later as someone mentioned the policy might be revised in June.
- TBC’s system also shows blocked balances on the card before payment confirmation. Afterward, the transaction appears as completed.
- I arrived in April and opened an individual entrepreneur (IE) account within a day. TBC opened an account within 3 days.
- Currently, the likelihood of getting a card that works outside Georgia at TBC is zero.
- I initially applied for a personal account, but after presenting a small business certificate, it was converted into an IE account within an hour.
- If you use a TBC card for over 6 months, you could be considered a “resident,” and TBC may then allow opening a full-featured card.
- I faced issues with crediting Unistream transfers. Often, transfers failed for days. I eventually withdrew cash in GEL directly at the branch.
- SWIFT transfers from Tinkoff and Cyprus arrived in 2 business days, but I haven’t tried outgoing transfers.
- After mentioning my IE status, the bank processed my application, and the account was ready within an hour.
- For IE clients, TBC opens a separate business account even if the initial application was for a personal account.
- I received my card the next day after paying the fee. TBC later contacted me for additional details before confirming the account.
- TBC does not support payments to foreign services in other currencies. They confirmed that the issued card is limited to usage within Georgia.
- One employee mentioned that regular international transfers to the account could potentially allow for a discussion about a full multi-currency account.
- In Batumi, I applied for a bank account at the Chavchavadze branch. After submitting the required documents, they asked me to explain my purpose for opening the account, my expected stay duration, and my current employer (with a contract). They also requested proof of address (local and Russian). After sending my contract via email, I received an SMS confirming the account opening within 2 hours.
- Although I tried for a multi-currency card, I was informed it would be limited to transactions within Georgia without access to online services like Netflix.
- They also mentioned a bunch of fees for withdrawals, transfers, limits, etc. Honestly, I didn’t remember all of them, so I just asked if I could withdraw dollars, convert them to GEL, and use GEL with the card. They said yes.
- Here’s the situation: TBC Bank denied opening a personal account for me. They didn’t even open a savings account. I provided all the documents they requested and answered their questions by phone. A month passed after submitting the application, and I received no response. I went to the branch and found out that my application had been denied. They didn’t inform me about the denial through SMS or phone call.
- We received British pounds to the TBC Bank account from the UK.
- When the payment arrived, they called us and asked us to make a My Safe deposit in GBP. They initially tried to guide us on how to do this through the mobile app, but it didn’t work. We went to the bank and completed it there. The funds arrived a couple of hours after that.
- Unistream transfer to cash — successful. When entering the transfer number in the bank’s app, there was an error suggesting trying again later. I wrote to the bank, but they only work on weekdays, which is strange after what I’m used to in Russia.
- For account opening statistics at TBC: On Monday, I registered my individual entrepreneur (IE) in express mode (109 GEL, same-day registration with an English statement). I also registered a small business. On Tuesday, I visited TBC, completed the KYC, and was asked to send a contract with a Serbian counterparty. No other documents were requested, and there were no KYC fees. After a period of silence, they called and invited me to the bank to collect the card, asked me to choose its color, and told me the annual fee was 110 GEL.
- On the day I visited, I received approval and only paid the annual fee. The next day, I collected the cards. They only asked for my Belarusian passport and KYC when issuing them. There were no fees for three additional accounts without cards. When I came to TBC, I had already been an IE for a year and had an account with Credo. My phone number and IE number were already in TBC’s system.
- A few days ago, everything went smoothly with TBC, and I planned to return to get a certificate containing my account details and addresses. The last time I worked on anything related to Payoneer was on April 12, 2023. Back then, I stopped trying to verify my receiving accounts (USD and EUR) due to the country mismatch issue. But today, a month later, I received messages saying both requests had been approved, and I was issued two accounts. Apparently, a more experienced employee reviewed the documents I had submitted previously, as I didn’t send them anything new. “Thank you for providing us with the requested information. Your account has been approved. We apologize for any inconvenience caused and appreciate your business with us.”
- By the way, today a friend of mine had his account at TBC closed. He had been living in Georgia for a year and a half, receiving payments from US/EU contracts and transferring funds from Russia via ZK/Unistream directly into the account. He suspects that the last transfer triggered the account closure.
- Sharing my experience with TBC: On the 27th, I submitted the application. On Monday, I visited the bank to check the status, and they told me it was still under review. I went again yesterday, and they told me to fill out the form again. Today, I received a rejection notice, and they chose not to disclose the reason.
- A few days ago, I received a KYC request from TBC for an incoming payment from Canada (I had previously received payments from various countries without issues). I explained my situation and clients again, but yesterday, I received the “happy” rejection email.
- Three of us submitted applications to TBC together. It’s better not to apply at the Justice House branch, as they’re always missing something, and it takes a long time for applications to be processed. On Aghmashenebeli Avenue, the third person in our group had his account opened in just three days. Two days later, they confirmed the approval, and the card was issued the next day.
- Today, more than a month later, I finally opened an account at TBC Bank for my IE (plus a personal account) in three currencies (GEL, USD, EUR). I submitted the application on March 29 at the Freedom Square branch. They requested the following documents:
- Passport
- Bank statements for the past 12 months (in Spanish)
- Invoices from the employer for the last three months (also in Spanish)
- KYC form (I filled it out honestly)
- Georgian address (I provided my Airbnb address)
After a month without any messages or calls, I visited them a week ago, and they asked for additional documents, including a contract with a US client. A week later, they asked me to resend the bank statements and KYC form. Four hours after that, they called and told me to come to the bank. I’m scheduled to receive the card tomorrow.
- The general experience with BOG, TBC, and Liberty Bank: If you want a business account for your IE, you must show that you already have contracts and completed work but have no place to transfer the funds. Even Liberty Bank showed me an internal message saying, “Why does he need an account? Where are the invoices, and why can’t he receive the money in Russia?”
- Today, I visited TBC in Batumi to open both a personal and IE account. They told me that they would only open the personal account if the IE application was approved.
- If anyone finds this useful: I managed to get a document from TBC Bank via email confirming my local Georgian address along with my address and passport details. It required a fee of 10 GEL, which was deducted from my account.
- They simply opened another standard account called “FOR BUSINESS.” Unlike BOG, TBC does not prohibit IE earnings from being deposited into the main account. I also noticed on the website that a tax number was linked to the account.
- On February 28, I went to the TBC branch at the House of Justice in Tbilisi, filled out the application, and paid 50 GEL. They told me I would get a response within five business days. At that time, they didn’t request any documents. I regularly called and visited the branch to check the status of my application, but they kept telling me it wasn’t ready and that they would call me. Once, they even said I would receive an SMS. They mentioned there were a lot of applications, so the waiting time could be up to a month.
Later, new requirements appeared, and people were being asked to provide proof of income. I expected them to call or inform me at the bank to submit additional documents, but they didn’t. When I visited the bank on March 22, they told me they had called me and that my application had been rejected. They didn’t send any SMS or give me a call to inform me about the rejection. They told me I could submit a new application and provided the updated list of required documents.
I decided to try again at the Davit Aghmashenebeli branch on March 22, immediately after the rejection at the House of Justice. I doubted their competence there and even asked the staff multiple times if they had fully processed my application before heading to a more reliable branch. At the new branch, I met a very friendly staff member at window 4 (I believe her name was Eka). I started speaking to her in English, but when she saw my foreign passport, she switched to Russian, although it was clear she sometimes struggled to remember certain words. She still tried to explain things as best as she could.
First, I asked her to check the status of my old application to make sure, but she said she couldn’t see it in her system and advised me to inquire at the original branch. I told her that they had confirmed the rejection, and she suggested we submit a new application. She asked me to fill out the form and send a bank statement and my service agreement via email. I sent the documents, but she mentioned that the statement needed a stamp. I explained that Ziraat Bank only provides statements through their mobile app without a stamp. She told me to try and get the stamped version and send it via email if possible, but I suggested submitting it as it was. (In the end, I didn’t submit the stamped version because Ziraat Bank replied to my inquiry by email, advising me to visit a branch to get a stamped statement.)
She told me to wait for 2–5 business days. I continued visiting the branch regularly to check the status. One employee told me it usually takes at least five days. I also called customer support to check the status through them, and they claimed that they had called me on March 15, 16, and 17 (probably regarding my old application). However, I hadn’t received any calls, and after March 17, no one mentioned any calls when I checked the status. I was disappointed with customer support and pinned my hopes on the more reliable branch.
A week later, on March 29, I received a call. They asked me questions like how long I planned to stay in Georgia, where the money would come from and go to, and other details. The staff member confirmed that she had received my documents and told me that if they needed anything else, they would call the next day. Otherwise, I would receive an SMS with the result. The next day, Eka called me and told me to come and open the accounts.
I opened two different multi-currency accounts and three different business accounts. She told me the card would be ready the next day after 3 p.m. I went to the bank the next day and collected the cards — success!
The only clarification was regarding fees: she told me there would be a 0.9 GEL monthly fee for each business account. Another employee mentioned a one-time fee of 10 GEL, and someone at a different branch told me they didn’t see any fees owed at all.
One note: Since I went to the bank before registering my IE with the owner of the legal address from the bot, they incorrectly entered my name in the system. Thankfully, the owner of the legal address was a professional translator and was happy to assist me with any questions over Telegram after registering the IE. I later corrected my name at branch X, as the first branch told me they couldn’t do it while the application was still under review.
Comment from MyReloc: We can help you open an account at TBC! Just contact us!