Travelling to Georgia is exciting and rewarding, but being prepared with your finances is key. Grasping the currency, exchange rates, and payment methods can make your trip smooth and easy. This guide covers Georgia's currency, the Georgian Lari; the factors affecting exchange rates; and secure payment options for smooth transactions. We offer a complete resource to help you confidently manage your finances while enjoying Georgia’s beauty and culture. In Georgia, credit cards are widely accepted, and ATMs are easily accessible. For seamless travel and spending, secure your Georgia eVisa in advance to enjoy a worry-free visit.
Georgian Currency: The Lari (Gel)
The Georgian Lari's Description and Denominations
The country’s official currency is the Georgian Lari, denoted by the sign ₾ and the acronym GEL.100 Tetri are created from one Lari. Tetri coins come in denominations of 1, 2, 5, 10, 20, and 50 Tetri, whereas Georgian Lari banknotes come in values of 5, 10, 20, 50, 100, and 200 Lari. Additionally, 1 and 2 Lari coins are in use.
Currency and Coins Currently in Use
The back side of Georgian Lari banknotes displays the nation’s architectural and cultural monuments, while the obverse side has images of notable historical personalities. The colour palette of the banknotes is vibrant, with a unique tint for each denomination. The distinctive designs of Tetri and Lari coins include symbolic motifs and national emblems, such as theBorjgali symbol and the Georgian coat of arms.
The History Of The Lari
The Georgian Lari replaced the Georgian KuponLari, which had been in use since the fall of the Soviet Union, as the country's currency in 1995. Since its creation, the Lari's design has changed several times; the most recent iteration of the banknotes was released in 2016. While ‘Tetri’ is the Georgian word for ‘white’ and alludes to the silver coinage of ancient Georgia, ‘Lari’ is derived from an old Georgian word meaning ‘hoard’ or ‘property.’
Exchange Rates And Money Conversion
Several variables, including inflation, interest rates, political stability, economic performance, and demand for the currency on the international market, affect exchange rates. The value of the Georgian Lari in relation to other currencies may fluctuate as a result of several variables. Monitoring currency rates is crucial to ensure you get the most for your money while visiting Georgia.
Tips For Finding The Best Exchange Rates
Take into account the following advice to locate the best exchange rates:
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Tip 1 |
To get a sense of the current currency rates, do some research on them before your travel. |
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Tip 2 |
Avoid exchanging money at hotels and airports, since these locations often offer less favourable rates and higher costs. |
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Tip 3 |
Use authorised exchange offices or nearby banks, since they usually offer lower rates. |
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Tip 4 |
If you want to save money on currency exchange, use a credit card that does not charge fees for foreign transactions. |
Recommended Currency Conversion Tools And Apps
Currency Conversion Tools
- Many tools and apps are available for currency conversion.
- They provide up-to-date exchange rate information.
Popular Options
- XE Currency Converter
- OANDA
- Google's built-in currency converter
Functionality
- Real-time exchange rate monitoring.
- Accurate conversion between Georgian Lari and other currencies.
Importance of Reliability
- Use a reliable and current tool to avoid conversion discrepancies.
Exchanging Money In Georgia
Money Exchange Locations (Banks, Currency Exchange Offices)
Banks
- They often offer the most competitive exchange rates.
- It is generally considered the safest option.
Currency Exchange Offices
- Currency exchange offices can provide excellent exchange rates, particularly in central or tourist areas.
- It is crucial to verify the office’s reputation and authority.
Hotels and Airports
- Offer currency exchange services.
- Typically, they offer less -favourable exchange rates.
Currency Exchange fees and Charges
The fees and charges associated with currency exchange in Georgia may differ based on the provider. Banks typically impose a nominal commission or service fee, while currency exchange offices may include their fees in the exchange rate.
It is imperative to compare the rates and fees of various providers to identify the most advantageous offer. Bear in mind that certain establishments may advertise "no commission" or "zero fee," but the claim may imply that they provide less favourable exchange rates to make up for the absence of fees.
Tips For Carrying And Exchanging Cash Safely
When carrying and exchanging currency in Georgia, keep the following safety advice in mind:
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Tip 1 |
Exchange money only at trustworthy locations, including banks or approved exchange agencies. |
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Tip 2 |
Instead of carrying large amounts of cash, use a combination of cash, credit cards, and traveler's checks. |
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Tip 3 |
To reduce the possibility of losing all of your money in the event of theft, divide it up across many pockets or bags. |
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Tip 4 |
When handling money in public, keep your distance and pay attention to your surroundings. |
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Tip 5 |
In the event that there are any problems or inconsistencies, keep a record of your transactions and save your receipts. |
ATMs And Banking Services
Availability Of ATMs And Banks In Georgia
ATMs and banks are widely available in Georgia, especially in larger cities and popular tourist areas.
Major Banks
Major banks like TBC Bank, Bank of Georgia, and Liberty Bank have extensive ATM and branch networks nationwide.
Rural Areas
- ATMs and banks may be less common in rural areas and smaller towns.
- It is essential to plan accordingly.
- It is important to carry enough cash for your needs when travelling in rural areas.
Withdrawal Fees And Transaction Limits
Variable Fees
- ATM withdrawal fees in Georgia vary depending on the local bank.
- Some Georgian banks may charge fees, while others may not.
Home Bank Charges
- Your home bank may impose foreign exchange or overseas transaction fees.
- It is crucial to check your home bank’s fee schedule.
Pre-Trip Preparation
Enquire about your bank's charge schedule and any transaction limitations before travelling.
Withdrawal Limits
Depending on the local Georgian bank and your account policies, daily withdrawal limits may be enforced.
Tips For Using ATMs And Banks In Georgia
Take into account the following advice while using Georgian banks and ATMs:
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Tip 1 |
Select ATMs connected to large banks since they are often more dependable and safe. |
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Tip 2 |
When using an ATM, pay attention to your surroundings, particularly in less populated places or at nighttime. |
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Tip 3 |
While entering your PIN, cover the keypad to protect it from potential observers. |
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Tip 4 |
To prevent misunderstanding while taking out cash, get familiar with the denominations of the local currency. |
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Tip 5 |
To prevent your card from being flagged for suspicious behaviour, let your home bank know about your vacation intentions. |
Credit Cards And Mobile Payments
Increased Acceptance
- Credit cards and mobile payments are gaining traction in Georgia.
- Especially at larger businesses: hotels, restaurants, shopping malls.
- This phenomenon is prevalent in major cities and tourist hotspots.
Cash Reliance Remains
- Smaller businesses in remote areas often rely on cash transactions.
Credit Card Preferences
- Visa and Mastercard are the most widely accepted credit cards.
- American Express and Discover have limited acceptance.
Mobile Payment Growth
- Mobile payment methods like Apple Pay and Google Pay are increasing in popularity.
- Card payments are generally more widely accepted.
Tips For Using Credit Cards And Mobile Payments Securely
The following advice might help guarantee safe credit card and mobile payment usage in Georgia:
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Tip 1 |
During transactions, keep your credit card visible to avoid skimming or unauthorised payments. |
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Tip 2 |
For extra security, use a credit card with a PIN and an implanted chip. |
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Tip 3 |
Monitor your account activity closely and promptly inform your card issuer of any suspicious transactions. |
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Tip 4 |
To get real-time warnings about card use, enable transaction alerts if they are available. |
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Tip 5 |
For extra protection, use mobile payment metho ds that include biometric identification, such as fingerprint or face recognition. |
International Transaction Fees And Considerations
Pre-Travel Research
- Learn about foreign currency conversion costs.
- Understand international transaction fees.
- Enquire about other related charges on your credit card.
Cost Savings
- Consider using credit cards with no international transaction fees.
Maximising Benefits
- Explore credit cards that offer travel points or bonuses for foreign spending.
Card Security
- Inform your credit card provider about your travel plans.
- This helps prevent your card from being flagged for suspicious activity.
Tipping Culture In Georgia
Georgia’s tipping culture is not as deep as in other countries, but it is growing, especially in tourist destinations. Tipping is often appreciated but not required. Take into account the kind of establishment, the degree of engagement with the service provider, and the quality of the service when determining whether to tip.
Tipping Etiquette For Various Services (Restaurants, Hotels, Taxis, Etc.)
Restaurants
- Tipping approximately 10% of the total bill is customary for good service.
- Be aware that some establishments may include a service charge in the bill, making additional tips unnecessary.
Hotels
- Housekeeping: 2–5 GEL per day is appreciated.
- Concierge: 5–10 GEL for exceptional assistance.
- Bellhops: 1–2 GEL per bag.
Taxis
- Rounding up the fare or leaving a small tip (1–2 GEL) is appreciated.
- This is especially true if the driver is helpful or enhances the ride.
How To Handle Tipping When Using Cashless Payment Methods
Tipping is more difficult when using cashless payment options, like credit cards or mobile payments. Tipping may be an option at some businesses while making a payment. Carrying tiny change or lesser denomination banknotes to provide gratuities in cash is a smart option if that is inaccessible. Because tipping practices might vary based on the country's particular circumstances, you can always ask locals or other travellers for assistance if you're confused about how much to tip.
Traveller's Cheques And Prepaid Travel Cards
Traveller's Cheques
- Their use has significantly declined.
- It is not widely accepted in Georgia.
- Difficulty in finding places to cash them.
Prepaid Travel Cards
- Increasingly popular.
- This is a convenient and secure payment method.
- It can be preloaded with funds.
- The travel cards can be used similarly to debit or credit cards at ATMs and establishments that accept card payments.
Pros And Cons Of These Payment Methods
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Travellers Cheque Pros: Security (replaceable if lost or stolen). Cons:
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Prepaid Travel Cards Pros: Wider acceptance. Cons:
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Tips For Using Traveler's Cheques And Prepaid Travel Cards Effectively
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For Traveller's Cheques
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For Prepaid Travel Cards
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General Advice
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Conclusion
- Plan your finances: Research exchange rates, fees, and payment options before your trip.
- Carry a mix of payment methods: Cash, cards, and mobile apps ensure flexibility.
- Be cautious: Protect your belongings and financial information.
- Enjoy Georgia: Preparation allows you to focus on the experience.
Stay flexible: Have backup payment options for a smooth trip.
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rupesh 13 Mar, 2025
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