Bank of Georgia closes customer accounts

21st of February, 2023

Since the end of December 2022, account holders at Bank of Georgia, the largest bank in Georgia, have started receiving alerts about termination of service. The bank sets a deadline of 3-5 days for the customer to withdraw funds, after which the account is to be closed. Official statements of the bank representatives state that the accounts are liquidated irrespective of the citizenship of the account owner. The reasons for the sanctions, according to the bank's comments: using the account for cryptocurrency transactions or as a transit account, dubious transactions that are not documented. 

If you have been blocked by Bank of Georgia, you have a few days to resolve the problem. 

Intelligent Solution Group specialists have extensive experience in successfully closing bank cases. We have been the key link between the client and the banks in situations involving the liquidation of well-known financial institutions:

We have experience in recovering funds and assets, and we have the knowledge of how to do it right. Intelligent Solution Group has former bank employees who understand the system from the inside.  Our specialists will start an in-depth study of your case and help you find a solution as soon as possible. 

Intelligent Solution Group offers turnkey support:

  • Negotiations with the bank - as your representative we contact the bank employees and visit the bank;
  • Document preparation - we find out the reason for blocking and help to prepare all applications to the bank;
  • Assistance in compliance control - we prepare you for negotiations with a compliance officer, in some cases we are present at the negotiations as your proxy;
  • Confirmation of the source of funds - we help you to gather the necessary documents to avoid additional requests from the bank;
  • Account opening - we analyze and choose an alternative to BoG, package and present you to the bank, get pre-approval, gather documents for account opening, pass compliance control, open an account. 

We are often approached by clients who are looking for options to protect their interests for the future, so we have developed second citizenship options for different countries - based on the ultimate goals of the business. To avoid unforeseen situations, we can help you obtain a passport from another country, giving you the freedom to act both in business and personal matters.

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