If you're planning a trip to Tbilisi, the capital of Georgia, one thing you'll need to consider is how to exchange your money. While the country's official currency is the Georgian lari (GEL), it's not always easy to find places to exchange foreign currency. In this post, we'll share some tips for exchanging money in Tbilisi, along with some anecdotes and examples to help you make the most of your trip.
1. Know the Exchange Rate
Before you exchange any money, it's important to know the current exchange rate. This will help you avoid getting ripped off by exchange offices or street vendors. You can check the current exchange rate online or by using an app such as XE Currency. Keep in mind that the exchange rate can fluctuate, so it's a good idea to check it regularly.
2. Exchange Money at Banks or Official Exchange Offices
The safest and most reliable way to exchange money in Tbilisi is to do it at a bank or an official exchange office. Banks usually offer the best exchange rates, but they may charge a commission or have a minimum amount for exchange. Official exchange offices, on the other hand, may not charge a commission but may have slightly lower exchange rates. Some popular exchange offices in Tbilisi include TBC Bank, Bank of Georgia, and Liberty Bank.
3. Avoid Street Vendors
While it may be tempting to exchange money with street vendors, it's not recommended. These vendors may offer higher exchange rates, but they are often scams. They may give you counterfeit bills or short-change you. Stick to exchanging money at banks or official exchange offices to avoid any potential scams.
4. Consider Using ATMs
Another option for exchanging money in Tbilisi is to use ATMs. Most ATMs in Tbilisi accept foreign debit and credit cards, and you can withdraw money in Georgian lari. Keep in mind that your bank may charge a foreign transaction fee or an ATM fee, so it's a good idea to check with your bank before you travel. Also, be aware of any hidden fees or scams such as card skimming.
5. Exchange Money in Advance
If you prefer to have cash on hand before you travel, you can exchange money in advance at your local bank or exchange office. This can be a convenient option, but keep in mind that you may not get the best exchange rate. Also, be sure to exchange only what you need and keep your cash secure.
6. Be Aware of Counterfeit Bills
Counterfeit bills are a common problem in Tbilisi, so it's important to be aware of the signs of a fake bill. Look for watermarks, security threads, and other security features on the bills. If you're not sure if a bill is real or fake, ask the person who gave it to you to exchange it for a different bill. If you're exchanging money at a bank or official exchange office, they will usually check the bills for you.
7. Consider Using a Credit Card
If you're not comfortable carrying cash or exchanging money, you can use a credit card for your purchases in Tbilisi. Most hotels, restaurants, and shops in Tbilisi accept major credit cards such as Visa and Mastercard. However, be aware that some places may charge a fee for using a credit card or may not accept them at all.
8. Plan Ahead
Finally, it's important to plan ahead when it comes to exchanging money in Tbilisi. Research the best places to exchange money, check the exchange rate regularly, and be aware of any potential scams or fees. By planning ahead, you'll be able to make the most of your trip without any financial worries.
Where to Exchange Money in Tbilisi
As mentioned earlier, banks and official exchange offices are the best places to exchange money in Tbilisi. However, it's important to choose a reputable and trustworthy establishment. Here are some popular exchange offices in Tbilisi:
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TBC Bank: TBC Bank is one of the largest banks in Georgia and has several branches throughout Tbilisi. They offer competitive exchange rates and have a reputation for excellent customer service.
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Bank of Georgia: Bank of Georgia is another popular bank in Georgia and has several branches in Tbilisi. They offer a wide range of banking services, including currency exchange.
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Liberty Bank: Liberty Bank is a relatively new bank in Georgia but has quickly become popular among locals and tourists alike. They offer competitive exchange rates and have several branches in Tbilisi.
It's important to note that some exchange offices may have different rates depending on the location and time of day. Be sure to compare rates before exchanging any money.
ATMs in Tbilisi
Using an ATM can be a convenient way to get cash in Tbilisi. Most ATMs in Tbilisi accept foreign debit and credit cards, but it's important to check with your bank before you travel. Some banks may charge a foreign transaction fee or an ATM fee, so it's a good idea to know what fees you may be charged.
It's also important to be aware of any potential scams when using an ATM. Card skimming is a common problem in Tbilisi, so be sure to check the ATM for any suspicious devices or cameras before using it. Also, cover the keypad when entering your PIN to prevent anyone from seeing it.
Using Credit Cards in Tbilisi
Using a credit card can be a convenient option for purchases in Tbilisi, but it's important to be aware of any potential fees or restrictions. Some places may charge a fee for using a credit card, and some may not accept them at all. It's a good idea to carry some cash with you in case you encounter a place that doesn't accept credit cards.
It's also important to notify your bank before you travel to Tbilisi. Some banks may block your card if they see unusual activity, such as a purchase in a foreign country. By notifying your bank beforehand, you can avoid any issues with your card.
Conclusion
Exchanging money in Tbilisi can be a bit tricky, but by following these tips and being aware of potential scams, you can ensure a smooth and stress-free trip. Whether you choose to exchange money at a bank, use an ATM, or use a credit card, be sure to plan ahead and stay informed. Happy travels!