Ratio of cashless operations in credit card transactions accounts for 90%.
Taking into account high commission fee for money withdrawal, the consumers have been accustomed that money withdrawal from ATM is unprofitable and therefore, everybody uses it for purchases. Tariff policy and conditions are almost the same, while the Make Installment was a different offer, which was first introduced by Basisbank and then by TBC Bank.
Almost all commercial banks offer 55-day grace period, excluding Basisbank, which offers 30-day MegoCard. Simple payment scheme is also maintained. Despite used limit, monthly deposits are fixed. The card has attracted more devoted customers because of its convenient conditions, however, there is 60-day grace period too.
Basisbank also provides the lowest annual interest rate – 28%, while other commercial banks offer 36% annual interest rate. The highest interest rate of 48% is charged on ExpressCard – Bank of Georgia product.