Banking services for business in Georgia, find out what opportunities the registration of a corporate account in Georgia provides
Learn all about banking services for business owners in Georgia from this article! Right now, follow the link to understand the intricacies of providing a corporate account for entrepreneurs in Georgia. We will tell you what opportunities open up when you open a business account in Georgian banks.
Learn about banking services for business in Georgia⬇️
Doing business in Georgia implies mandatory opening a corporate bank account. Upon receiving it, the owners of companies receive additional banking services that facilitate business processes.
What applies to these services, and under what conditions they are provided to entrepreneurs in Georgia, we will study in this article.
Remote account management
One of the main advantages of the banking system for doing business in Georgia is remote management of a corporate account. Georgian banks provide all clients with the following services for remote banking:
1. Internet banking
It is necessary for making transfers, including in different currencies. Also, using the Internet bank, you can send reports for accounting programs and generate statements at any time.
2. Mobile Banking
Provides the ability to regulate the flow of funds on the account using a smartphone. The same services are available as for Internet banking, only used through a special application on Android or iOS.
3. Sms notification
The SMS notification service helps to keep abreast of all account movements. Prevents fraud and sudden money transfers.
4. Electronic identification of the client and electronic signature
Doing business online requires electronic identification of the client. In Georgia, the Digipass application is used for this. It is installed on a smartphone, to which an individual code is attached. You can also order a special device that allows you to use electronic identification from any device.
5. Online payments
Online payments allow you to save time on making payments for various services and goods. Ease of use, speed and reliability of transfers have made online payments in Georgia an indispensable function for remote business in Georgia.
6. Direct debit
Automatic transfers will not allow you to skip payments on regular payments. These include utilities, taxes and rent. Debiting is carried out from those accounts that the owner specified when connecting the direct debit service.
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Banking services
All cash flows, as well as the provision of statements, invoices, reports and certificates are included in the package of banking customer service. This is the main job of the bank for which the account is opened. In another way, it is called settlement and cash services.
Acquiring
For online stores and businesses accepting card payments, it is necessary to use the acquiring service. Not all banks provide acquiring, so when opening a business account, check this point.
When receiving a corporate account in banks providing acquiring services, the owners of companies are given terminals for accepting payments and assign a commission.
Acquiring is convenient for companies providing services around the world.
Corporate card
A special corporate card helps entrepreneurs keep records of the company's cash flow. It is charged for transportation, household, travel and other expenses.
Everything you need to do business is paid online or directly by card. The account is multi-currency, so there will be no problems with receiving funds from abroad.
Corporate bank card for business in Georgia guarantees the security and confidentiality of data. Blocking occurs at the first request of the cardholder around the clock.
Also, reduced commission rates are provided for business owners.
Salary projects
Business in Georgia is conducted mainly online, so it is easier and more convenient to transfer wages directly to the employees' card. At the same time, the reporting is generated automatically.
All operations are absolutely safe and automated, which reduces the cost of transporting cash, storing it, and also reduces the burden on accountants.
We have analyzed the main banking services that are provided to business owners in Georgia. This is an incomplete list of bank opportunities, they can be found out when registering a corporate account. Additional conditions are provided for foreign entrepreneurs, which you can read about in other articles on the Madloba website!
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