Direct GEL deposits are back on Platform

Updated: 17 October, 2018 seen 138

Yesterday, on October 16, 2018 I noticed that direct GEL deposits are back again on platform.

I first heard about peer to peer lending platform at the start of 2016, later that year I decided to give it a try, as I was looking for investment opportunities especially in Georgia

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Both individuals and entities can invest through Mintos. Individual investors must be at least 18 years old, have a bank account in the European Union or third countries currently considered to have AML/CFT systems equivalent to the EU, and have their identity successfully verified by Mintos. At the moment, US citizens or taxpayers cannot register as investors at Mintos.

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As an expat living in Georgia, I was heavily using Georgian national currency to fund my Mintos investor account, and felt really sorry after learned in June 2018, that Mintos has stopped accepting direct GEL deposits. 

Here is what I told regarding this matter back in June 2018:

There is one more thing what happened with Mintos last month - they removed/stopped or most probably get banned from Georgian bank and stopped to accept direct deposits in Georgian National Currency Lari. Lari is the reason I started to invest with Mintos, now not being able to deposit lari directly on the platform - platform doesn't look interesting for me anymore and I'm not planning to invest here anymore.

and here is what support replied me back then:

Me: Hi guys, just noticed there is no more an option to deposit GEL via Paysera (Liberty bank) is it a temp glitch or no more direct GEL investments on mintos platform?Thanks for looking into this
Mintos Support: Hello Reinis! Currently there is no possibility to transfer funds in GEL, but we are looking for other opportunities and will inform investors once there will be some news.
ME: Ok,thanks for the information
Mintos Support: You are welcome!

As of October 16, 2018 there is again an option to deposit GEL via Silk Road Bank (instead of Liberty Bank)

What do we know about Silk Road Bank

Here is what's written on bank's website:

Over the years the Silk Road Bank has proved to be a stable financial institution which is successfully represented in several countries worldwide. We offer exceptional services to our customers thus contributing to their prosperity.

For the past several years, the Bank has been supporting the establishment of many famous Georgian brands, assisting various local businesses in broadening their activities, attracting a number of foreign investments and successfully implementing international projects.

The Bank’s quick dynamics of development, experience, permanent improvements, which are reflected in several reports of the famous audit companies, gives us the full right to state:

Every customer of our Bank, irrespective of his/her financial activities, always receives various products, comfortable services, high interest rate, an opportunity for financial growth.

The Bottom Line

Please note that withdrawal in GEL currency is possible only to bank account in Georgia or to Paysera account. GEL funds could be converted to any currency that is supported by Mintos marketplace.