TBC Launches Partial Conversion of Incoming Transfers in Its Mobile Bank — a First in Georgia

TBC Bank has launched partial conversion of incoming money transfers in its mobile bank, which the bank describes as the first feature of its kind in Georgia. Customers can now convert only the part of a received transfer they need right away and keep the rest in the original currency.

What changes

Until now, cashing out a transfer meant converting the entire amount. The new feature removes that all-or-nothing choice: the remaining funds stay on the customer's foreign-currency account, and the client decides when to use them.

How it works in practice

If a customer receives 500 US dollars, they can convert just 100 dollars into Georgian lari and keep the other 400 in their currency account. Conversion in the mobile bank runs at a special rate, 24/7 — exactly when and for the amount needed. Transfers can be received in the mobile and internet bank through the Ria, IntelExpress, MoneyGram, RicoGram, FastTransfer and Western Union systems.

Who benefits

According to the bank, partial conversion matters most to people who regularly receive financial support from abroad, as well as to non-residents and freelancers who earn in foreign currency. It helps them split everyday expenses and savings more flexibly. TBC says its goal with the mobile bank is to simplify day-to-day financial processes and match the product to customer needs.