When opening a bank account in Georgia, it’s critical to understand how your funds are protected. This section explains the deposit insurance scheme regulated by the National Bank of Georgia, including coverage for time deposits and account balances, so you can manage your money with confidence.
Last updated: September 24, 2025. Conditions may change, so we recommend checking official sources such as the National Bank of Georgia or contacting us for the latest information.
Deposit Guarantee System
The National Bank of Georgia oversees a deposit guarantee scheme to protect funds in Georgian banks, ensuring financial stability for account holders:
1. Time Deposits: Funds in fixed-term deposits (Georgian Lari Term Savings Accounts, GEL) are guaranteed up to 30,000 GEL per deposit. This means that if you open multiple time deposits, each for up to 30,000 GEL, the total amount of each deposit is protected. For example, 10 time deposits of 30,000 GEL each would guarantee a total of 300,000 GEL.
2. Account balances: Balances in regular accounts (such as non-term checking or savings accounts) are not covered by the National Bank of Georgia’s deposit guarantee scheme. However, individual banks may offer private insurance to protect these funds in the event of financial problems, such as insolvency. Check with your personal banker for the details of their insurance policies.
Tips to Protect Your Funds
If you plan to move or hold large amounts of capital in Georgia, consider these recommendations:
- Diversify into time deposits: To maximize protection, open multiple fixed-term deposits, each for up to 30,000 GEL, since the guarantee applies per deposit, not per customer.
- Check the bank’s insurance: Ask your bank about insurance policies for checking or savings account balances, especially if you don’t use time deposits.
- Keep clear records: Be sure to document your deposits and balances to facilitate any claims in case of problems with the bank.
In tucuentaengeorgia.com, our service focuses exclusively on facilitating the opening of bank accounts in Georgia for non-residents, providing support in document preparation and coordination with Georgian banks. We do not offer financial or investment advice, and no information provided on our website or communications should be construed as such. We recommend consulting with an advisor to evaluate your financial decisions and comply with the regulations of your country of residence.
