MoneyTO, the London-based remittance operator, has launched fee-free money transfers to Georgia. The new service enables customers to conduct cross-board transfers more quickly and efficiently.
According to the World Bank, Georgia ranks 21st among countries dependent on personal remittances. In 2023, the total amount of transfers reached $4.1 billion. The UK is one of the top 20 countries from which Georgia receives the largest amounts of money.
“Money transfers account for over 13% of Georgia"s GDP. We understand how crucial it is for migrants to be able to support their loved ones. Now our customers can send money from the UK to Georgia in a matter of minutes, fee-free and at favorable exchange rates,” said Galina Selicka, CEO of MoneyTO.
Statistics show that the number of families in Georgia where at least one member lives abroad and supports relatives has increased from 12% to 16% during the last years. The remittances help cover essential expenses like food, healthcare and education, as well as improve housing conditions.
MoneyTO responds to expats’ needs for cross-border transfers, offering a simplified solution. It takes a few minutes to make a transfer at https://www.moneyto.co.uk/ka/georgia or via the mobile app*.
Only the recipient"s first name, last name and phone number are required. In Georgia the recipients can pick up cash in USD, EUR or GEL at payout locations, including Bank of Georgia, Basis Bank, Cartu Bank, Credo, Liberty Bank, Silk Road Bank, TBC Bank, and Terabank.
*Download the MoneyTO app on the App Store and Google Play
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