Business registration and operation are impossible without a bank account. In addition to a corporate account, banks offer a wide range of services for business owners that greatly facilitate and automate business processes. The list of services may differ depending on the bank you choose, but the main banking services for legal entities in Georgia are acquiring, a salary project for business, settlement and cash services, variations of remote banking, etc. In this article, we will take a closer look at the features of these services in Georgia.
Remote banking
The most convenient and modern service provided by Georgian banks is the ability to remotely manage accounts, which is especially important for non-residents living in different countries. The standard package of remote banking services, which you can see in almost all banks in Georgia, consists of:
- Internet banking;
- Mobile banking;
- SMS banking;
- Digipass Apps;
- Online payment options;
- Direct Debit.
Using these functions, you can carry out almost any activity related to the movement of funds: transfers, control of receipts and expenses, etc. And all this will be possible from anywhere in the world.
Internet banking
Internet banking allows you to:
- receive money transfers in almost any currency;
- make transfers;
- convert currencies;
- create account statements;
- send reports directly to accounting software.
Mobile banking
With Mobile Banking, you can make payments and manage accounts directly from your smartphone (Android or iOS). This is convenient because you can control and interact with your account anytime, anywhere. If you are registered in the bank's system, then a simple password and login are enough for you to enter the application. For those who prefer complex but secure authorization methods, you can configure confirmation with a one-time code, which you will receive via SMS or email.
Digipass app
Banks allow you to remotely confirm company payments from anywhere in the world, for this you need to install the Digipass application on your phone, get an activation code for it and a permanent code for the subsequent generation of payment confirmations. All these data can be obtained remotely by power of attorney to a representative of our company.You can also use the classic Digipass machine to generate verification codes if you don't want to be tied to one mobile device. Such a car can be obtained almost anywhere in the world by express mail.
SMS banking
By connecting SMS-banking, you will receive an SMS about every transaction made from your account.
Direct debit
This service makes it possible to automate recurring payments, such as utility bills or tax payments. The client just needs to choose an account (several accounts are allowed) from which money will be debited and set the priority of payments. The number of the latter is not limited.
Settlement and cash services
Settlement and cash services for legal entities and individuals, in fact, is the main activity of banks. It includes such services as: movement, storage, and registration of cash flows. Also, cash transfer and settlement include the transfer and write-off of funds, the provision of account statements, certificates and reporting documents.
Acquiring
If your business implies the need to accept card payments, then be sure to check if the bank you have chosen provides acquiring services. This will provide you with all the functionality for accepting bank cards at a point of sale or if your online store will allow your customers to make payments using a bank card or electronic money through a special web interface. At the same time, all information is preserved and its complete confidentiality is guaranteed.
At its core, acquiring is a technology that provides non-cash acceptance of payments using bank cards and other non-cash payment systems. The largest banks in Georgia act as acquiring banks, provide POS terminals and charge commissions for acquiring.
Corporate bank cards
A corporate bank card of your organization will allow you to control business, entertainment and transportation costs. In addition, most banks in Georgia allow making payments and receiving cash using corporate funds from any country in the world.
For what it need:
- Purchase of goods for the needs of the office and company;
- Payment for services of any nature, including via the Internet;
- Travel expenses.
You will definitely need a multicurrency bank card to receive funds from payment systems such as Paypal, for example.
The main advantages of a corporate card for business:
- Security;
- Control and accounting;
- Reducing risks when transporting large amounts;
- The ability to block when lost or found missing at any time of the day;
- SMS notification when withdrawing funds;
- Savings on commissions.
The conditions and tariffs of the banks of Georgia are different, you can familiarize yourself with more details and choose the appropriate one by clicking on the link.
Salary project for business
With a payroll project, the payroll transfer process becomes a regular fund transfer operation. You will not need to conduct each transaction separately and all reports will be generated automatically through the bank. If you decide to implement a salary project, then carefully study the areas of activity with which the bank works. This will help you understand if the conditions and services that are included in the salary project are right for you.
The main advantages of salary projects in Georgian banks:
- Automation of the payroll and reporting process;
- Freeing up accounting resources;
- Reducing costs (commission, storage, delivery);
- Security;For more information about banks in Georgia, follow this link.
Other banking services for legal entities in Georgia
These are far from all the services that modern Georgian banks provide for legal entities. In addition to the fact that the banks of the country guarantee absolute confidentiality because they do not transfer financial information about non-residents to the tax authorities of their countries, they also offer the possibility of keeping free funds on deposits, asset management, and brokerage services, insurance and leasing.
Banks of Georgia for several years in a row has become the best representative of online banking services among the countries of Central and Eastern Europe. If you decide to register your business in Georgia and open a commercial account for your company, leave a request - we will advise you for free and select a bank that suits you.