Wednesday, 16 January 2019
MoneyTO introduced money transfers in Lari
Remittances remain a very significant part of the household's income in Georgia, amid estimated 470 000 Georgians living and working outside of the sun and wine - blessed country.
According to the National Bank of Georgia, in August 2018 alone, USD 135.6 million has been remitted to Georgia, with the leading senders being Italy and Greece (USD16.2 and 12.6 million respectively), followed by Spain, Germany, Poland, France and UK.
Most of the money transfer operators offer services with the payout in either USD or
EUR, thus exposing recipients to the cost and inconvenience of then changing money to Lari - the national currency of Georgia.
"We felt it is time to provide Georgian diaspora with the fairly priced cash Lari money transfer service" - says Galina Selicka, CEO Moneyto Ltd.
Low fees and excellent EUR/Lari and GBP/Lari exchange rates allow customers to save up to 50 GEL on a typical GBP 300 transfer.
Customers can do transfers online, through the website which is available in Georgian, or Moneyto mobile app, using their VISA or MC cards.
Remittances are available for the cash pick-up almost instantly at ca. 750 locations in Tbilisi, Kutaisi, Batumi, Rustavi, Gori, Poti, Marneuli, Akhaltsikhe, Tskhaltubo, Kaspi, Borjomi, Sagaredjo, Akhalkalaki, Ninotsminda, Bagdati, Тsalka, Karajala, Kabali, the total of more than 40 cities across Georgia. Bank of Georgia, TBC Banks JSC, Bonako MFI, Kartu Bank JSC, Alfa Express MFI, Bazis Bank, Liberti Bank provide the payout service at the time of this press release.