Find the best way to send money to the US
Whether for business or personal reasons, if you need to send money to Georgia, you have the option of only a couple of providers. The Georgian lari is considered an exotic currency — which means it’s not a currency most forex providers deal in.
Popular Western Union and MoneyGram both have a presence in Georgia and can send a cash payment quickly, but these speedy transfers can be expensive. We’ll show you how to compare transfer companies when sending money abroad.
World First international money transfers
Special $0 fee offer for finder.com readers
Because World First is a trusted partner of finder.com, you can send your money transfer overseas for free.
No fees: There is no online transfer fee for all finder.com customers.
- Enjoy competitive exchange rates.
- Spot contracts, forward contracts and limit orders are available.
- Receive weekly updates on market exchange rates.
Compare money transfer services
Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds to Georgia with our money transfer partners.
How to compare transfer companies when transferring money to Georgia
By comparing a few elements of your transfer, you can ensure that you get the cheapest deal for your needs.
- Exchange rates. Nearly all providers skew exchange rates for a profit. Compare the rate you’re offered to the mid-market rate — the rate banks and transfer services use when they trade among themselves — and look for the smallest margin between them.
- Transfer fees. Find out whether the provider charges a flat fee or a percentage of your transfer. If you’re sending a large amount, ask whether you qualify for a fee-free transfer.
- Payment and delivery options. Some transfer companies allow you to pay with a credit card online, by phone or through an app. Others offer agent locations for cash payments and pickups. Also ask how your recipient can receive your funds: bank account, cash pickup, mobile wallet and more.
- Transfer speeds. If it needs to be there fast, companies like Western Union and MoneyGram allow for quick cash pickups, often in minutes. If you have more time, you’ll get better rates and fees with an independent provider.
- Transfer limits. Your best option might depend on how much you want to send. For large transfers, weigh the best exchange rate — especially since providers encourage large transfers by offering low fees. For smaller amounts, consider the fees you’ll pay on top of the exchange rate.
- Flexible transfer options. Ask whether you can schedule payments ahead of time or protect your transfer against market fluctuations with a limit order or forward contract.
- Customer support. Most companies offer customer service by Internet chat, phone, in person or by email. Make sure help will be available if you need it.
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weak currency. Most countries’ exchange rates are flexible, which means they can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Tsotne Beridze moved to the US because of work, while his wife and children continue living in Georgia. Since they depend on him financially, he’ll have to send them money on a regular basis. He feels around $1,000 per month is good to keep them going.
While Tsotne opened an account with a bank upon arriving to this country, it does not let him transfer funds to Georgia, given that the Georgian lari (GEL) is an exotic currency. He decides to compare money transfer companies to see who offers the best deals.
|Money transfer service 1||Money transfer service 2|
|Exchange rate||$1 = GEL1.7199||$1 = GEL1.7733|
|Transfer speed||1-3 days||1 day|
|Transfer options||Bank account||Bank account|
|Total GEL received||1,719.90||1,758.72|
Difference of 38.82 Tsotne opts to go with the second money transfer company even though it charges him a fee. His family receivea around 39 more lari, and he can be sure the money will get to her bank account within a day.
How to send money to Georgia
Whether you send money through your bank, a money transfer provider or any other option, you’ll need to first register for an account with a provider, supplying your name, address, contact details, proof of ID and information about your selected payment method.
Keep a record of any transaction reference number you receive so that you can review the progress of your transfer.Back to top
What are the ways that I can send money to Georgia
- Bank transfers. Many major US banks will allow you to send money to Georgia.
- Money transfer providers. Providers like Ria and World First can help you quickly and easily transfer your money online.
- Providers with cash pickup. Western Union and MoneyGram allow you to send funds for cash pickup at agent locations.
- PayPal. Electronic payment giant PayPal allows you to send money from the US to Georgia.
- Checks and money orders. Although not a quick option, you could send an international check overseas, obtained from your bank or US Postal Service.
How safe is a money transfer?
When you use a reputable provider, your funds are safely tracked until in the hands of your recipient. There are <a href=”http://www.consumerfinance.gov/askcfpb/1507/what-are-new-federal-protections-consumers-who-send-money-internationally.html” target=”_blank” rel=”nofollow”>federal protections</a> in place that require banks, credit unions and money transfer companies to, for example, disclose all fees upfront and give you 30 minutes to cancel a transfer, assuming it hasn’t yet been picked up or deposited.
Picking up cash
Whether picking up funds in Tbilisi, or anywhere else around the world, take a few simple safety precautions to prevent yourself becoming a target for thieves.
- Call ahead. Learn the company’s business hours and choose a safe time to pick up your cash. Daylight hours are best.
- Bring a friend. Carrying money when alone can be dangerous. Ask a friend to come along.
- Deposit your money immediately. The likelihood of losing your money to theft or simple carelessness grows the longer you have it with you. Go straight to a bank and deposit your cash as soon as possible.
- Keep your cash hidden. Place your money in your purse or wallet before leaving the office. Carrying cash out in the open could make you a target.
Emergency transfers to Georgia
You might need to send an emergency cash transfer to Georgia— for example, You family needs money in a hurry. When you need to transfer funds urgently, your fastest possible transfer will often be your most expensive option. Carefully review the exchange rate and transfer fee against your needs so that you understand exactly how much it will cost you.Back to top
You have multiple options to choose from when sending money to Georgia from the United States. To get the best value for money for your international money transfer, compare the benefits and features of competing services before selecting a provider.