Transfers from Abroad: How to Receive Money to a Georgian Account—Tips

Receiving international transfers to a Georgian account — practical tips ✅

Accepting money from abroad to a Georgian bank account is straightforward when you know the process. This guide is for home buyers, investors and people moving to Georgia who want to avoid delays, surprise fees and paperwork issues.

Key terms to know

• SWIFT / BIC — bank identifier used for international transfers.
• IBAN or account number — international style account identifier; check the format with your Georgian bank.
• Correspondent bank — an intermediary bank that may handle cross-currency transfers.
• Currency conversion — exchange process if funds arrive in a currency different from your account currency.

Step by step: how to receive a transfer 🧾

1. Give the sender exact account details: account holder name, account number, SWIFT code, and the bank address if requested.
2. Agree on the transfer currency and whether you want the funds credited in foreign currency or converted to lari.
3. Decide who pays the transfer fees: sender, receiver or shared. This affects the final amount received.
4. Keep transaction reference numbers and any sender confirmation for tracking.

What documents banks may request

• Passport or ID.
• Proof of source of funds such as contracts, invoices or sales agreements.
• Explanation of payment purpose if transfer size or nature triggers a review.

Banks follow KYC and AML rules, so having basic documents ready speeds up processing.

Timing and fees — what to expect 💸

Transfer timing ranges from a single business day up to several days, depending on sender country, banks involved and whether correspondent banks are used.

Fees can include:

• sender bank fee;
• correspondent bank fees;
• receiving bank fees.

Fees may be fixed or percentage based. To avoid surprises, ask the sender to use the option where they cover all fees, or check with your bank for typical fee scenarios.

Currency handling and conversion 🔁

If you have a multi-currency account you can accept funds in the original currency and convert later. If your account is only in lari, the receiving bank will convert incoming funds and the exchange rate may differ from market rates.

Ask your bank about conversion policy and timing.

Alternatives to traditional bank transfers

• Fintech remittance services, often faster and sometimes cheaper.
• International e-wallets and payment cards supported by both parties.
• Cash pickup services where applicable, though these require careful handling.

Choice depends on amount, speed and documentation needs.

Tax and documentation considerations 🧾

For property purchases or investments, keep all payment records and contracts. Tax obligations depend on the purpose of funds and residency status. Consult a tax advisor if needed.

Practical scenarios for buyers and investors

• Deposit for property: mark payment as an earnest money transfer and keep the purchase agreement as proof of source.
• Paying contractors: store invoices and transfer receipts.
• Rental income from abroad: contracts and payment records simplify reporting.

Fraud prevention and safety 🔒

• Double check account details before confirming payment.
• Avoid sharing full card data over insecure channels.
• Retain all confirmation messages and transfer receipts.

Quick checklist before receiving a transfer ✅

• Correct account details and SWIFT provided.
• Currency and fees agreed.
• Documents ready for bank verification.
• Transfer reference saved.

If you are buying property or investing in Georgia, BuyHome can assist with practical arrangements for receiving international payments. Visit our site to explore properties and get help: https://buyhome.ge/en

Contact BuyHome for friendly support choosing property and managing international transfers.