Bank or exchange office: compare the final amount

Bank or exchange office: compare the final amount

The same currency can have different rates at a bank and an exchange office. The provider type alone does not tell you which offer is better: the exchange direction, amount, service channel and fees matter.

Compare buy rates when selling dollars or euros. Compare sell rates when buying foreign currency with lari. Use the same amount and currency quantity for both offers.

Example: exchanging 1,000 USD for GEL

Suppose one provider buys dollars at 2.70 GEL and another at 2.71 GEL. For 1,000 USD the results are 2,700 and 2,710 GEL. These are hypothetical rates.

If the second offer has a separate 15 GEL fee, its final payout is 2,695 GEL. In that case the higher quoted rate gives you less money. Ask how much you will receive after every charge.

What to check before exchanging

1. Check the last-confirmed time and currency quantity.
2. Confirm whether the quote applies to cash or an app.
3. Check fees, the branch rate and cash availability with the provider.
4. Keep the transaction receipt.

An individual or app offer can differ from the public cash rate. The official rate is a reference and does not determine every commercial transaction’s price.

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