General questions
From the date Bulgaria joins the eurozone, all types of BGN (lev) accounts will be converted automatically and free of charge into euro accounts. There will be no transitional period for these accounts. This means that from the very first day of euro adoption, customers will be able to withdraw only euros from these accounts, whether via ATM/POS or at a bank branch.
The introduction of the euro will not affect the validity of existing contracts that reference the lev. All terms, obligations, and agreements remain unchanged. All BGN amounts stated in existing contracts will be considered as euro amounts, converted using the official exchange rate and the rules for conversion and rounding as per the Law on the Introduction of the Euro in the Republic of Bulgaria. References to the lev without a specified amount will also be considered references to the euro.
During the dual display period, banks must show information in both BGN and EUR for:
For the first six months after euro adoption, commercial banks and Bulgarian Posts will exchange BGN banknotes and coins for euros free of charge at their offices. Cash can also be exchanged free of charge at the Bulgarian National Bank for an unlimited period.
During the first six months after euro adoption, banks will exchange unlimited amounts of BGN banknotes and coins into euros at the official exchange rate free of charge. However, for transactions over BGN 30,000, a 3-business-day advance notice is required. The exchange must comply with the Anti-Money Laundering and Anti-Terrorism Financing laws.
The fastest and most convenient currency conversion will happen with the money in your bank account. On the day Bulgaria joins the eurozone, all accounts will be automatically and freely converted to euros. After that, customers will only have access to euros. Depositing BGN into a bank account before the official euro adoption date will simplify the conversion process, as it will be automatic and free of charge.
Postbank will offer two types of starter packs. For individuals the pack with euro coins will worth BGN 20. For legal entities the pack with euro coins will worth BGN 200.
For one month after euro adoption, both BGN and EUR will be in circulation. During this period, payments can be made in either currency. If a payment is made in BGN or EUR, the change will be returned entirely in euros. If the merchant does not have enough euros, the change may be returned entirely in BGN. After this period, the BGN will no longer be legal currency, and all payments must be made in euros.
There will be a long dual display period during which prices of goods and services will be shown in both currencies. This will help consumers better understand the new currency and the conversion process. The dual visualization is for informational purposes only and does not impose any obligations on customers. All euro amounts will be converted using the official exchange rate and rounded to two decimal places, following the rules set by the Law on the Introduction of the Euro in Bulgaria. The dual display period will begin one month after the EU Council decision and will last for one year.
The conversion is done by dividing the BGN amount by the full official exchange rate, expressed with six digits (five decimal places). The exchange rate is not rounded or shortened. The resulting amount is rounded to two decimal places, using the third decimal digit for rounding. The conversion is completely free of charge, with no additional fees or commissions.
No. During the one-month dual circulation period, ATMs will dispense only euro banknotes. From the date of euro adoption, all ATM withdrawals will be in euros only.
Payment accounts and deposits
No, your IBAN will remain the same.
No, you do not need to close your existing accounts or open new ones due to the transition to the euro. From the date Bulgaria joins the eurozone, all types of accounts will be converted automatically and free of charge into euros.
The applicable interest rate will remain unchanged as of the date of euro adoption in the Republic of Bulgaria.
Within two months from the date of euro adoption, you can request to close one of your payment accounts and transfer the positive balance to the other account you hold, maintaining the conditions of the account receiving the funds. No fees or commissions will be charged for these operations. If the account being closed has a debit balance or an issued credit card, the corresponding obligation must be settled before closure.
Upon euro adoption, the fees and commissions for servicing your account will not change. They will be converted from BGN to EUR using the official exchange rate and the rounding rules described in the Law on the Adoption of the Euro.
The Bank Deposit Guarantee Fund protects deposits held in a bank by a single person, regardless of the number of accounts, up to BGN 196,000. After the euro is adopted in Bulgaria, this amount will become EUR 100,000.
Credits and Cards
Existing loans issued in BGN will be automatically converted into euros at the official exchange rate from the date of euro adoption. The conversion will not result in any adverse effects for clients or changes to the terms of existing loan agreements.
Loans issued in other currencies, including euros, will retain their current terms without changes.
The monthly payment and outstanding loan balance as of the date of euro adoption will be automatically converted at the official exchange rate and rounded according to the rules specified in the Law on the Adoption of the Euro, without any additional fees or charges from the bank.
One month after the EU Council’s decision to adopt the euro, a dual display period will begin and last for 12 months after. During this period, the installment and outstanding loan balance will be shown in both currencies in Postbank’s online banking channels, and upon request, in bank branches.
After the euro is introduced, there will be no change to the account number servicing the loan or the repayment method. No additional actions will be required from borrowers with existing loans.
No, this will not be necessary.
The applicable interest rate under the loan agreement will remain unchanged as of the date of euro adoption in Bulgaria.
The terms of your cards will not change. One month after the euro adoption decision takes effect, a dual display period will begin and last for 12 months. During this time, fees applicable to bank cards will be shown in both currencies in the bank’s tariff. Monthly credit card statements will also show amounts in both currencies, converted at the fixed exchange rate.
Yes, credit and debit cards issued in BGN will remain valid and can be used as before, with no changes to their terms. On the date of euro adoption, the balance and credit limit on these cards will be converted at the fixed exchange rate and rounded according to the rules in the Law on the Adoption of the Euro. You will continue to repay amounts due on your credit cards in the same way as before.
There will be no change in how the bank provides this information. You will continue to receive your monthly statements in the same way as before, based on your chosen method. You can also request a duplicate statement at a bank branch. Starting one month after the euro adoption decision takes effect, statement amounts will be shown in both currencies. You will still be able to monitor your credit card balance and amounts due via the bank’s online banking channels.
Digital banking and online services
Values for balance, available funds, and limits will be shown in euros or BGN, depending on the selected button: “View in Euro” / “View in BGN.” The dual display period will last 1 year.
Values for balance, available funds, and limits will be displayed simultaneously on screen in both currencies during the dual display period.
There will be no changes to the process of initiating transfers via e-Postbank and m-Postbank. During the dual display period, after entering the transfer details, the transfer amount and fee will be shown in the selected currency via the “View in Euro” / “View in BGN” button.
There will be no changes to the process of initiating transfers via the digital express banking zones. During the dual display period, after entering the transfer details, the transfer amount and fee will be displayed in both currencies.
No changes will occur in servicing your credit products via e-Postbank and m-Postbank.
No changes will occur in servicing your credit products via the digital express banking zones.
During the dual display period, account statements for all types of BGN accounts will be shown simultaneously in BGN and EUR.
There will be no changes in how you use m-Token Postbank. Until the euro is introduced, all transaction amounts will be shown in BGN.
Available balance and limits will be displayed simultaneously in both currencies during the dual display period.
When selecting a specific BGN account in the “Accounts” menu, the current balance will be shown simultaneously in both currencies during the dual display period.
No changes will occur. On the “Review” screen, the transfer amount and fee will be visible in both BGN and EUR during the dual display period.
No changes will occur. Account and card balances, payment amounts, and fees will be displayed in both BGN and EUR during the dual display period.
Insurance Products
From the date of euro adoption, all BGN-denominated premiums will be automatically converted to euros. The coverage of insured risks will remain unchanged. From day one, premiums will be collected exclusively in euros.
From the date of euro adoption, all agreed limits in BGN will be automatically converted to euros, with no change to the coverage of insured risks.
From the date of euro adoption, all claims—including those approved before the euro introduction—will be automatically converted and paid in euros.
Mutual funds
The mutual funds in BGN will no longer exist. Before the end of 2025, BGN share classes will be converted in the respective EUR share classes.
A free of charge period (30 working days) will be provided, in which you will be able to redeem your investment in BGN, if you want to. The free of charge period will be placed in September or October 2025. No redemption fee will be applied regardless of the holding period (whether it is less or more than 2 years).
No, there are open for distribution in Bulgaria EUR share classes of the respective mutual funds in BGN. If you decide not to redeem your units after the end of the free of charge period (September or October 2025), your investment is going to be automatically converted to the respective euro classes of the respective funds. To wit:
According to the low the approved exchange rate will be 1 EUR = 1.95583 BGN.
In cases you redeem your BGN investment during the free of charge period (September or October 2025), the documentation is standard The only difference is that all Redemption tickets in BGN will be FREE of charge for the above mentioned period. If you decide not to redeem your units after the end of the free of charge period (September or October 2025), your investment is going to be automatically converted to the respective euro classes of the respective funds. If you have a Regular Instalment in BGN, the very same approach will be applied – you could redeem free of charge and terminate it. Standard documentation needed. Or you can wait and the bank automatically will replace BGN share class with the respective EUR share class of the same fund. No documents need to be signed. The same applies to a Combined product SpestInvest.
Other services
Upon euro adoption, all government securities (e.g., government bonds) previously denominated in BGN will be automatically converted to euros. This also applies to other types of investments in debt instruments (e.g., bonds) and shares of Bulgarian companies registered with the Central Depository. The nominal value conversion will be carried out by the Central Depository. If the bond or financial instrument has a fixed interest rate, it will remain unchanged after the transition. The conversion must ensure that interest payments in euros are equivalent to those in BGN. For instruments with variable interest rates, the issuer’s methodology will apply, in accordance with the Euro Adoption Law, ensuring no adverse conditions for investors.
From the date of euro adoption, all fees for safe deposit boxes, as per the bank’s tariff, will be automatically converted to euros.
From the date of euro adoption, the BGN equivalent of standing payments will be automatically converted to euros. From day one, all standing payments will be executed exclusively in euros.
What happens to the "Direct Debit" service after the adoption of the euro?
If you have provided consent for direct debit payments to suppliers with accounts in other banks, these payment requests will not be received or executed after January 1, 2026. We recommend contacting the respective supplier to arrange an alternative payment method.