Question Problems with Georgia because of Russia

[ahassanmaly]

Your name is hassan and I can assume that you are Egyptian from your name or at least a middle eastern, and if my assumption is true, then man I don't want to kick you while you are down but ffs, how in the f**k you are dealing with three different banks in three different countries (which some of them are considered high risk) and in USD on top of that and still wondering what went wrong.

Most of Egyptians whom I dealt with or still dealing with know that their are certain things that you don't to or are just common sense!

for example:
1- a transfer from FAB/Mashreq/ADCB/ADIB/ENBD branch in Egypt in (USD or AED) to FAB/Mashreq/ADCB/ADIB/ENBD branch in the UAE is totally fine, and no "ifs and what's" happen with these transfers. why? similar banks, similar currencies, similar geographical areas and the list goes on.

2- now you add the absolute f**k fest that is georgia or any Eastern European country really (minus estonia) in the mix and you will have tons of quesitons coming your way without any reason, minus the fact that you are arab, muslim? I assume, Egypt+UAE+Georgia, probably your name match some PEP or some list right there, and you are using USD.

My 2 cents, avoid USD unless you are dealing with the same banks/ banks from the same country.
USE GEL, transfer money from BOG to transferwise using GEL, then To Egypt using EGP and to UAE via another EMI like Ebury and then to your UAE bank account. That's the way to do it, even though it's my least favourable way to handle things.
Your money will most likely be released or credited back to your BOG bank account, but moving forward, think ahead and see what your options are before doing any kind of risky transfers like that. Or just use Crypto, less headaches and you can cash out in UAE and EG easily, these are very very tiny amounts/everyday transactions in UAE and EG and no one will bother you.

Good luck.

Thanks for your input
I have been working this way since 2013 and it was Ok
Yes from time to time they would stop a transfer, a couple of basic questions asked and transfers released.
Never had any real issues until this whole Russia / Ukraine drama started unfortunately

Your advise is highly appreciated but it would result in losses on exchange rates when transferring USD to GEL or to AED or EGP, don’t you agree ?

Crypto unfortunately I am not familiar with it and I don’t think its easy to deal with in Egypt

The problem with the business I am doing is it mainly depends on USD globally

 

[MiddleEuroAsia]

Thanks for your input
I have been working this way since 2013 and it was Ok
Yes from time to time they would stop a transfer, a couple of basic questions asked and transfers released.
Never had any real issues until this whole Russia / Ukraine drama started unfortunately

Yes, that was when you were able to walk in to any TBC or BOG bank and open a multi currency account in 5 mins, unfortunately these days are over

Your advise is highly appreciated but it would result in losses on exchange rates when transferring USD to GEL or to AED or EGP, don’t you agree ?

Transferwise has one of the best exchange rates in the world (xe.com is also good but to a lesser extent). you won't lose much with transferwise and it's - in my opinion - a necessary sacrifice

Crypto unfortunately I am not familiar with it and I don’t think its easy to deal with in Egypt

Don't touch it if you are not familiar with it and just read about stablecoins like USDT and USDC and use these as your main crypto.

Regarding cashing out in Egypt It's very very easy, you can cashout via plenty of methods, either via:

1- ADVCASH (they can give you CASH in USD or EGP in Egypt but 5000 USD is their minimum, similar to western union in a way, but they take 5% fees, which I assume you want to avoid)
2- CEX.IO (Direct bank transfers are avilable)
3- Facebook groups, but you need an Egyptian friend/translator or a good ability to use google translate, or if you are Egyptian, it's way easier. These groups fees range between 0.2 to 0.8%.
4- P2P/OTC transactions. meaning you sell crypto to some local Exchange/company and they give you the equivalent in fiat via wire transfers or cash

The problem with the business I am doing is it mainly depends on USD globally

then transfer money to UAE with AED -> then from UAE to Egypt or vice versa with USD, USD transactions accross the middle east are normal. UAE, Egypt, bahrain...etc.

 

[ahassanmaly]

Yes, that was when you were able to walk in to any TBC or BOG bank and open a multi currency account in 5 mins, unfortunately these days are over

Transferwise has one of the best exchange rates in the world (xe.com is also good but to a lesser extent). you won't lose much with transferwise and it's - in my opinion - a necessary sacrifice

Don't touch it if you are not familiar with it and just read about stablecoins like USDT and USDC and use these as your main crypto.

Regarding cashing out in Egypt It's very very easy, you can cashout via plenty of methods, either via:

1- ADVCASH (they can give you CASH in USD or EGP in Egypt but 5000 USD is their minimum, similar to western union in a way, but they take 5% fees, which I assume you want to avoid)
2- CEX.IO (Direct bank transfers are avilable)
3- Facebook groups, but you need an Egyptian friend/translator or a good ability to use google translate, or if you are Egyptian, it's way easier. These groups fees range between 0.2 to 0.8%.
4- P2P/OTC transactions. meaning you sell crypto to some local Exchange/company and they give you the equivalent in fiat via wire transfers or cash

then transfer money to UAE with AED -> then from UAE to Egypt or vice versa with USD, USD transactions accross the middle east are normal. UAE, Egypt, bahrain...etc.

Thank You for all your advise
Appreciate it

 

[5K1PP3R]

What address do you have in BOG? They have two addresses in the profile section, check both of them and make sure they are not Russian ones. Check your SWIFT pdf, does it say RU by chance? I had this issue and I had to go to Georgia and update in the office. And I had to insist they update both addresses

 

[ahassanmaly]

What address do you have in BOG? They have two addresses in the profile section, check both of them and make sure they are not Russian ones. Check your SWIFT pdf, does it say RU by chance? I had this issue and I had to go to Georgia and update in the office. And I had to insist they update both addresses

Never had any connection or Address in Russia
Thanks