YEREVAN, May 31. /ARKA/. Moneyto Ltd said today that money transfers to Georgia can be sent from any VISA/Mastercard card via Moneyto.co.uk website. Online transfers paid out in local currency are subject to 0.49% commission, with a minimum of €/£1.

According to a Moneyto press release, in Georgia, cash can be picked up in every branch of TBC bank, Bonaco, Alpha Express or Cartu Bank. Over 150 pick-up locations are available throughout Tbilisi, Karadjala, Tskhaltubo, Gori, Batumi, Rustavi, Kutaisi, Marneuli, Poti, Bagdati, Ninotsminda, Akhaltsikhe, Sagaredzho, Kaspi, Kabali, Tsalka, Akhalkalaki, Kutaisi, Borjomi and other cities, with additional locations to be added in future.

International money transfers are an important source of income in Georgia. The National Bank of Georgia estimates net inflow of international money transfers in March 2018 at $131.1 million (320.1 million lari), an increase of 17% ($19.1 million) year-on-year.

In Europe, most money transfers to Georgia are sent from Italy ($15.5 million), Greece ($13.7 million), Germany ($3.5 million), Spain ($3.3 million), France ($1.5 million) and the UK ($1.3 million).

“We at Moneyto understand how important money transfers are for the economy and development of Georgia, and for everyday lives of our customers who send money to their friends and families, and we work hard to offer relevant and flexible solutions,” says Galina Selitska, CEO Moneyto Ltd.

Sending money to Georgia in lari is an excellent way to avoid double currency conversion. Our transfers use preferred currency conversion rate set at the time of sending, and we hope our customers will welcome the new opportunity to send money home in lari.” -0-