Opening a personal account in the Bank of Georgia with the SOLO service package

A premium service package will give access to a larger spectrum of bank services that the client can use with improved efficiency. Both local citizens and non-residents can open a personal account in the Bank of Georgia with the SOLO service package. Non-residents will be especially interested in receiving high quality bank services as those create comfortable conditions for doing business in a foreign country. To every SOLO client a bank officer is assigned, and he or she will help solve almost any financial issue. Besides, the officer will caution the client against taking any actions that may be illegal in Georgia. And of course, premium service means a higher credit ceiling, posh credit cards, higher interest rates on deposits, and a personal office for meetings and negotiations. The pay for this high quality service is quite acceptable in Georgia if compared to the cost of similar services in European countries.

Offshore Pro Group will gladly help you open a personal account in the Bank of Georgia with the SOLO service package and thus receive access to all the benefits of premium service in the Bank of Georgia – a leading bank in the country. Even though today this bank is only the second largest bank in Georgia, it still plays a pivotal role in the country financial life. Together with TBC Bank, it controls over 60% of the Georgian banking business.

The cost of opening a personal account in the Bank of Georgia with the SOLO service package is 2999 EUR. Bank commissions and the cost of document postage (around US$ 100) have to be added to this sum.

Introducing the Bank of Georgia

The establishment of this bank dates back to 1903, which makes it the oldest bank in Georgia. Its headquarters are located in the capital city of Tbilisi.

The Bank of Georgia is the second largest bank in the country. Its position in the banking market is firm and secure. It holds 34.7% of all banking assets, 33.5% of the overall loan portfolio, and 33.9% of all deposits in Georgia.

In 2018 the Bank of Georgia profit was 488.8 million lari, which is 5.5% more than in 2017. On 31.12.2018 the bank assets reached 14 798 303 thousand lari, which is a bit less (-2.4%) than in the previous year.

The Bank has the largest network of branches: 271 branch offices are placed all over Georgia. In addition to that, the Bank of Georgia boasts 876 ATM’s, 3 115 teller units, and 14 220 POS terminals. It services 2.4 million clients given that the total population of Georgia is about 3.7 million people. Besides, the Bank of Georgia is the exclusive issuer of American Express cards in the region. By 2019 it has issued 105 899 American Express cards.

The Bank of Georgia also has the following subsidiaries:

• Galt & Taggart Finance and Investment Company;
• The Georgian Leasing Company;
• Budapest representative office for assets and wealth management;
• A representative office in London
• Georgia Financial Investments Company (Tel-Aviv, Israel);
• The Belorussian People’s Bank.
• The SOLO premium service package from the Bank of Georgia

The clients who value high quality individual service will appreciate the SOLO premium service package. The package does not only give a higher status to the client but also provides the following additional benefits:

• Better loan and deposit conditions;
• Access to new financial products – stock and securities trading;
• Free issue of a VISA pay card;
• An American Express Gold card at a special price;
• Free use of all remote account control systems: Internet, SMS, and mobile banking as well as regular and/ or automatic payments;
• Free courier service (for 4 standard calls);
• Preference insurance package;
• A Priority Pass card that gives a discount on the use of VIP areas in more than 600 airports around the world (US$ 35 instead of US$ 99);
• 14 days of free use of a safety deposit box;
• A possibility to share the benefits of the package with the spouse (with the SOLO FAMILY upgrade).

As of 31.12.2018, 44 292 individuals are using this premium service package and the number of people wishing to become SOLO clients is constantly growing. However, not everybody can purchase the SOLO premium service package from the Bank of Georgia. It is accessible to private individuals – residents or non-residents – who meet one of the following two requirements:

• They have proof of a monthly income of minimum 3 000 lari (around US$ 1 200); or
• They have a positive balance in their deposit account of minimum 20 000 lari (around US$ 8 000).

It should be noted that the SOLO package can be purchased only in 12 Bank of Georgia branch offices that are located at the following addresses:

• In Tbilisi, there are 9 such offices. At 24 Kazbegi blvd., 25 Kazbegi blvd., 11 Chitadze st., 70 Abashidze st., 29 Chavchavadze st., 73 Tsereteli blvd., 23 Paliashvili st., 12 Tsintsadze st., and 8 Nozadze st.;
• There is one office in Batumi at 22 Rustaveli blvd.;
• There is one office in Kutaisi at 5 Queen Tamara st.;
• There is one office in Telavi at 3 Cholokashvili st.

The SOLO services from the Bank of Georgia

When the client signs a service agreement for the SOLO package, a bank officer is appointed to act as the client’s personal manager. The officer will give advice and answer all the questions pertaining to any financial product that the bank has to offer. Apart from consultations, the manager’s duty is to help the client select the bank services that best correspond to her needs. On the client’s request, the personal manager can also perform any kind of banking operations in her name in case the client herself does not have time to visit a branch office.

In addition to a personal manager, the SOLO user receives access to special secluded offices where she can conduct business meetings and negotiations. These offices have luxury interiors resembling those a 5-star hotel. The interiors were designed in cooperation with «DINN!», a famous Italian design studio.

American Express Platinum card from the Bank of Georgia: terms of service

A SOLO user can become a member of the club of the same name and immediately obtain an American Express Platinum card that comes together with the following bonuses:

• A gift Priority Pass card that gives 5 free visits to VIP zones in international airports around the world;
• A possibility to use hotel loyalty schemes and travel insurance policies;
• A possibility to acquire credit cards with the grace period of up to 55 days;
• Higher bonuses for the pay card use (plus 500 gift points);
• A possibility to participate in the discount program.

American Express Platinum card tariffs and service terms:

• Account service payment – none;
• Account currency – lari/ US$/ euro;
• Card valid for – 4 years;
• Grace period – 55 days;
• Card service payment – 1000 lari per year;
• Commission for non-cash payments in stores and supermarkets – none;
• Daily cash withdrawal limit – 10 000 lari (about US$ 4000), but there is no upper limit for withdrawing cash at the Bank of Georgia branch offices;
• Credit maximum – up to 150 000 lari;
• Yearly interest rate on the credit: for non-cash transactions – 15%, for cash withdrawals – 22%.
• SOLO premium card: terms of use
• Ever SOLO package user is issued a free VISA Platinum card, and it gives an opportunity to make noncontact purchases. The main advantages of this card are as follows:
• No service payment;
• No commission for withdrawing cash from SOLO and Bank of Georgia ATM’s;
• A higher daily cash withdrawal limit – up to 4 500 lari per day;
• 5% interest is paid on the card balance in lari, or 1.25% in UD$.

“PLUS” loyalty scheme

SOLO users can become members of the “PLUS” loyalty scheme. It allows accumulating points and receiving discounts and gifts. You can ask your personal manager to enroll you into this program, or do it yourself by filing an application in a SOLO office.

Points are added for:

• Bank card payments – 1 lari spent brings 2 points (2.5 points to SOLO club members);
• Invitation of a friend – 1 invitation brings 7 500 points (10 000 to SOLO club members).

The points are accumulated on a separate account. You can learn about the number of points you have via the Internet or by sending an SMS to 4444 typing the word “PLUS” in the message.

The points can be used anytime for the following:

• Buying food items in SOLO stores;
• Buying gifts from the SOLO catalogue;
• Paying for house utilities, mobile phone bills, or Internet bills;
• Paying for the fuel at “Zaliv” gas stations;
• Buying food and other items at “Foodmart”, “Ioli’ and “Spar” supermarkets;
• Paying the bill in “Dunkin’ Donuts” and “Wendy’s” cafeterias.

SOLO life insurance program from the Bank of Georgia

SOLO clients can make use of the “Secure” insurance policy that insures against one of the following seven critical diseases:

• Brain stroke;
• Heart attack;
• Multiple sclerosis;
• Kidney failure;
• Coronary artery deformation;
• Organ transplantation;
• Tumor.

It is not only the bank client who can participate in this insurance program, but members of her family as well. (On the condition that the spouse is not older than 64 years, and the child is not younger than 14 days.) The policy duration is 12 months. The insurance coverage can be US$ 20 000 or 50 000 or 100 000.

Documents required for opening a personal SOLO account in the Bank of Georgia

The SOLO premium service package is available to non-residents who have at least 20 000 lari on their deposit account or otherwise have proof of a monthly income on the territory of Georgia of at least 3 000 lari. Before making the premium service agreement, the candidate has to submit her foreign passport and fill out the client application form.

It is also possible to use a notarized power of attorney to make the agreement and open an account. This means that you do not even have to spend time on travelling to Georgia.

The procedure of opening a personal account in the Bank of Georgia with the SOLO premium service package

1. If you wish to have access to high quality bank services, you can contact Offshore Pro Group via e-mail: [email protected].
2. Then you have to fill out a client form that will help precisely identify you needs.
3. After that, you have to cover the full cost of this service, which is 2999 EUR.
4. In addition, you have to send by mail a notarized power of attorney in the name of our Georgian representative.
5. Finally, you have to put minimum 20 000 lari (or the equivalent in other currency) into a deposit account in the Bank of Georgia.
6. Making a SOLO service package agreement.

A personal account in the Bank of Georgia with the SOLO premium service package does raise the client’s standing and give her a higher status. But more importantly, it provides access to high quality banking services. These include: upper-class Visa Platinum and American Express Platinum cards; the “PLUS” bonus program; the “Secure” life insurance program; free remote account control channels.

Offshore Pro Group will be happy to help you make an agreement with the Bank of Georgia for the SOLO service package, and your personal presence will not even be required. Please write to us to: [email protected] and we will gladly answer all your questions.