TBC Bank acquired Bank Republic in October, 2016 and started the process for unification of the banks. The merger will end on May 6, 2017. After the merger, only TBC Bank brand will remain and the Bank Republic branches will continue to work under TBC brand.

At this stage the process of replacement of Bank Republic cards with TBC Bank cards is underway. Until May 6, Bank Republic customers should visit branches and receive TBC cards free of charge. From May 6, the customers will no longer be able to use Bank Republic cards. The location of the cards will be notified to the customers by SMS. In case if the customer has not yet received the SMS notification, one can refer to the call center of both banks 2 27 27 27 (TBC) or 2 90 90 90 (BR). Concerning the payroll cards, clients should apply to the organizations.

As for the current loan and deposit agreements, they do not require renewal. The customer will use the terms defined by the contract until expiration. There will be an individual communication with the customer if the product/service contracts need to be renewed.

Certain Bank Republic products, such as: "Prism", "Abacus" and "Abacus Pro" will be terminated. Bank Republic's "Savings Account" will be replaced by TBC's "My Safe", therefore cancelling the cards of "Megobari Anabari" (Friend Deposit)

The Bank Republic customers will be able to fully enjoy TBC Bank's operations as well as credit products and services, including installment and any type of loan. They will also be able to receive the pawn service, which was not previously available at Bank Republic.

The document covers only the matters, which will be subjected to certain changes in the result of merger. 


What happens to the Bank Republic accounts?

  • The customers will automatically receive new TBC Bank accounts corresponding to their Bank Republic accounts with new requisites (SWIFT / IBAN). The balances on the previous accounts will also be automatically reflected at the TBC Bank after the merger of banks from May 6.

Where can we receive the new account requisites? 

  • The customers should visit any branch of the bank in order to receive their account requisites after the merger. New requisites will be available the next day after the merger. Additionally, the customers will receive the new requisites while replacing their cards at the Bank Republic branches. The customers, who are already using the TBC Internet Banking/application, can view/print their new account details via Internet Banking.

Will it be possible to transfer the money on old requisites after the merger?

  • During three months after the merger, namely from May 6, the customers can receive the money transferred on old requisites in any currency and without any delay. Transferring money on old requisites will not be possible upon the expiration of three months period. Any transferred amounts will be returned to the sender.

Can the customers receive the Bank Republic account statements after the merger?

  • The account statements will be prepared after the customers refer to any of the branches or send the notification via internet-bank. The customers can receive the account statements by themselves via the Bank Republic internet bank until April 30, 2018.

Do the customers have to visit a branch for closing or opening the accounts or is it done without their involvement? 

  • The customers do not have to visit a branch to open/close an account. They will automatically receive new TBC Bank accounts, which will be corresponding the Bank Republic accounts. At the same time, the Bank Republic accounts will be automatically canceled. This applies to the accounts opened in TBC due to the merger. If the customer wants to close the Bank Republic accounts before the merger, one should visit the branch, as default. If the customer closes the Bank Republic account, which is already open at TBC Bank, then one should visit latter also and close the corresponding account.

Will there be any changes in the account operational fees? 

  • The Bank Republic standard operational fees will be replaced by the TBC Bank standard operational fees, while the non-standard tariffs will remain the same.

Will there be any fees on depositing and withdrawing on/from the current accounts?

  • After the merger, standard TBC Bank tariffs will be imposed on depositing and withdrawing on/from the current account.

Will there be changes in monthly commissions?

  • The monthly commission for the current account services will be 0,9 GEL a month.
    The monthly commission fee on the Demand Deposit services will be 0.9 GEL. The same fee will be set up on every Saving Deposit after the merger.


Will there be changes in terms and interest rates of the Bank Republic deposits? 

  • The terms and interest rates will remain unchanged until the end of the deposit term on Term Deposits.  

Will the deposit be renewed automatically if the customer had this feature applied at the Bank Republic?

  • If the customer had the option of automatic renewal applied to the deposit - the deposit will not be automatically renewed.


Bank Republic Cards

•    How are the cards replaced and will there be changes to the card terms? 
TBC Bank cards, of the same or higher grade, are made instead of the Bank Republic cards. Users will maintain the same service commissions. The card distribution process has started. The Bank Republic cardholders will receive the TBC Bank cards free of charge through the Bank Republic branches. The customers are gradually receiving notifications about the location of their card. The issuing of the cards will be completed by May 6. The distribution scheme for payroll cards varies for different companies and it is agreed with payroll organizations.

•    Will the customers have to pay the commission for the next year's card service; how much will it be?
The payment for service fees will be commenced after the end of the commission period paid at the Bank Republic and it will be determined according to the TBC Bank commission rates.

•    What are the changes in the card account currencies?
After the unification of the banks, the cardholders will be able to use the accounts only in the GEL/USD/EUR currencies. The sums existing in other currencies (e.g. GBP, RUR, CHF) will only be available through the non-card (current) accounts that will be automatically opened at TBC Bank. The current accounts will be open for free and without monthly service fees; the balances will be automatically transferred upon the merger and the withdrawal fees will be similar to the TBC Bank account fees, except the cases of using nonstandard tariffs at the Bank Republic.

•    Will the additional (third person) Bank Republic cards for natural persons also be automatically replaced with the TBC cards and if so, who is eligible to collect them? 
The additional cards are registered with the main holder's name; accordingly, only the main cardholders are eligible to withdraw the cards.

Credit Cards: 

•    Will the Bank Republic credit cards be transferred to TBC Bank or will the customers receive a new similar card after the merger? 
After the merger, the Bank Republic credit cards will be replaced by TBC's PRIME CARDs, which will maintain the Bank Republic conditions. However, the credit cards in foreign currency will have a different logic of counting the grace period to be applied until the end of the limit term. According to the new condition, the grace period starts from the usage of credit limit and the amount spent from the limit, for the interest-free use, has to be fully covered by the end of the 55th day.

•    Will there be changes in the credit card interest rates?
The interest rates will remain the same.

•    Will there be changes in the credit card calculation/repayment dates?
The date of billing on the credit card is determined with the first business day of each month instead of the end of month, while the maturity date is due to the billing date plus 25 days. If the first day of the month, or the maturity date (+25 days) falls on a non-working day, the above mentioned dates will be moved to the next business day.

•    Will funds from the customer's other accounts be automatically transferred to cover the credit card? (the so-called "Collection")
Bank Republic had the practice of collecting the funds from the customer's other accounts in order to automatically cover the credit card. However, the automatic collection will not be available at TBC Bank after the merger. Thus, the customers should take into consideration that the credit card must be covered through a direct deposit on the credit card itself. 

Bank Republic ATMs

•    Are the Bank Republic ATMs replaced with the TBC ATMs? What are the tariffs on cash withdrawals from the ATMs? 
Bank Republic ATMs have already been replaced by TBC Bank ATMs. These ATMs have the same tariffs for withdrawing cash as the Bank Republic ATMs. The only difference is that the TBC ATMs are available to withdraw cash only in GEL or USD currencies.

•    Are the partner banks changing while using the ATMs?
Those ATMs, which are already running the TBC Bank system, will have the TBC Bank partners. 

•    How does a customer redeem the Bank Republic loyalty points?
The Bank Republic loyalty points are already deposited in the form of money on the Bank Republic accounts.

Distance Service

  • Internet Bank

The customers who have access to the Bank Republic Internet Banking service have to apply to any of the TBC branches or contact TBC call center for registration of the new Internet Bank - 2 272727. The registration of Internet Bank for Individuals is also available online at www.tbconline.ge; the Registration of TBC Bank Internet Bank is free of charge for Individuals.

  • SMS Bank

Active cardholders who used Bank Republic SMS service will continue receiving the TBC Bank SMS service with TBC tariffs. The SMS service will be free for the tariff pack owners, TBC employees and individuals involved in the Payroll Project.

Credit Service

•    Will there be changes in loan agreements? 
The current loan agreements do not require renewal. Before the expiration of the term of the contract, we serve the customers with the conditions set out in the contract. 

•    Will there be changes in the repayment dates of the loan, credit card or any other type of credit liability that a customer had at Bank Republic? When should the customer repay the credit liability to TBC Bank?
Dates for covering the credit liabilities (except the credit cards) will not change after the merger of banks. From May 6, after the merger of the banks, the Bank Republic credit liabilities have to be repaid in TBC Bank branches or via distance service means.

•    When will the Bank Republic customers be able to apply for the TBC Bank loans?
After the merger of the banks, the customers will be able to apply for the TBC Bank loans of any direction, while the issuing of TBC installments to the Bank Republic customers has been activated since March 1. After the unification of the banks, new loans will be issued with the TBC Bank terms and conditions. 

•    What will be the conditions on the loan insurances transferred to TBC Bank?
Duration of insurance policies for certain loan products is no more than 1 year. The current policies will be transferred with unchanged conditions, while the updated policies will be introduced with the TBC Bank terms. 

•    Will the favorable loan conditions remain the same for the Bank Republic payroll clients?
Current conditions will be maintained before the current loans are repaid.

•    Will the prepayment conditions remain for the Bank Republic loans?
The conditions will remain the same at TBC Bank. 

•    If the Customer has signed a General Credit Agreement with TBC Bank as well as with Bank Republic, which General Credit Agreement shall be used to reissue a credit?
A repeated credit will be issued according to the TBC Bank General Credit Agreement.

•    Will there be changes in the loan interest rates for the customers? 
For this stage, there are no plans for significant changes on interest rates of the existing products. 

•    If the customer has a current debt at TBC Bank and the Bank Republic accounts' balance is automatically transferred after the merger, will the latter funds cover the debt at TBC Bank?
The credit and commission debts will be covered according to the TBC Bank rule, which means that the amounts will be accumulated from the customer's all accounts in order to repay the debt. 

•    What will be the changes for overdrafts?
The grace period for covering the interest has extended to 40 days. Besides, the interest will be repaid not from the allowed limit but from the installment made by the client or from the account's positive balance. In addition, during the overdraft period the customer is required to cover only the monthly interest instead of covering 100% of principal amount, which was according to the Bank Republic Agreement.

Other Services

•    Will there be changes in standing orders and direct debits?
There will be no changes in current standing orders and direct debits. Besides, there will be no changes to the Simple Saving service either. The abovementioned services will be available at TBC Bank too.    

•    Will the Bank Republic customers have the same amount of fines at TBC Bank?
There are no planned changes on the fines imposed on current loans - conditions set out in the contract will be maintained; any further changes will be introduced only with the aim of improving the conditions.

•    Will the Bank Republic commission debts be transferred to TBC Bank?

Any commission debts will be transferred to TBC bank. 

•    Will the attorneys registered at Bank Republic automatically act on the accounts opened in TBC Bank and vice versa? 
Following the merger, the content of each of the attorneys will be studied separately and if it is legally well established, it will be distributed on TBC Bank accounts accordingly. To verify the attorney details the TBC Bank may contact the customer.