A memorandum of cooperation has been signed between Basisbank and partner banks to implement an innovative instant transfer system by Bank of Georgia, aiming to advance digitalbanking services and enhance customer experience. The service will become available to customers soon.
This marks the first introduction of such a system in Georgia. Through this service, individuals will be able to transfer money between Basisbank, Bank of Georgia, ProCredit Bank, and Credo Bank using only a mobile phone number. Transactions will be reflected in the recipient’s account instantly, at any time of day or night. Transfers will be available in GEL, EUR, and USD. For transfers in GEL, a high single-transaction limit of GEL 10,000 will apply, and customers will be able to make an unlimited number of transfers per day.
David Tsaava, General Director of Basisbank, emphasized that the bank prioritizes offering fast and flexible services to its clients, while also ensuring maximum accessibility to financial products. “This cooperation between four Georgian banks will allow customers to instantly send or receive money between their accounts using only a mobile number—at any time, day or night. On one hand, this is a unique opportunity; on the other, I am confident it will give momentum to the development of similar technological services in Georgia’s banking sector,” he noted.
Archil Gachechiladze, CEO of Bank of Georgia, described the initiative as an important step toward improving customer experience. “Together with our partner banks, we are enabling customers to make transfers easily and receive funds whenever they need them. I am pleased that three additional banks have joined Bank of Georgia in this effort, allowing hundreds of thousands of customers to benefit from faster and more efficient banking services. I believe this represents a key stage in the digital transformation of the country’s financial infrastructure. To expand the benefits of this service, it is important that more banks join the initiative. We will not stop here—we plan to introduce many more innovations in this area for both the financial sector and our customers,” he said.
