Checked on 23 October 2026
Opening a bank account in Bulgaria: account for basic operations in euros, switch to the euro in 2026, SEPA
Since 1 January 2026, Bulgaria has been in the euro area (€1 = 1.95583 lev): your euro transfers from another EU country go through SEPA like domestic transfers. If you are legally resident in the EU, any bank authorised in Bulgaria must offer you an account for basic operations (платежна сметка за основни операции) in euros, opened within 10 days after you submit your file, free or at "acceptable fees". It can refuse it if you already have such an account or several payment accounts in Bulgaria.
- Costs
- Account for basic operations (платежна сметка за основни операции): free or "acceptable fees", below the national average published by the BNB and below the bank's lowest rate for the same service
- Timeframes
- Opening of the basic account within 10 days after submission of all documents and signature of the contract
Steps
- Keep your European account first: an employer, a landlord or a supplier that accepts SEPA transfers and direct debits from a Bulgarian account must also accept an account from another EU country: art. 9 of Regulation (EU) No 260/2012 prohibits specifying which Member State the account must be in (no discrimination according to the IBAN).
- Choose a bank and ask for its information brochure on the basic account (BNB model, at the branch and on its website).
- Submit your file: identity document, personal foreigner's number (ЛНЧ) or residence document, address; each bank sets its exact list, within the framework of its anti-money-laundering checks: ask for it before the appointment.
- Sign the framework contract: the bank opens the basic account within 10 days. It can offer you other services, but cannot make the account conditional on buying them.
- For a mortgage, each bank sets its conditions for a foreigner (income, length of stay, down payment): compare offers and ask for them in writing.
Documents
- Valid identity document.
- ЛНЧ or residence certificate (sheet BG-SEJOUR-TOUS-001), address in Bulgaria.
Costs and timelines
- Basic account: each service free or at a rate below both the previous year's national average published by the BNB and the bank's lowest rate for that service on a current account.
- Euro transfers within the EU: same price as a domestic transfer.
- Deposit protection: the Bulgarian Deposit Insurance Fund (BDIF) reimburses up to €100,000 per depositor and per bank, all deposits combined (capital and accrued interest).
Common pitfalls
- Old amounts in leva on contracts or invoices: conversion is done at the fixed rate of 1.95583 lev for €1; check the calculation.
- Opening several payment accounts: the bank can then refuse you the basic account.
- Buying an extra service without wanting to: the basic account cannot be tied to the purchase of another product.
What changes by country of origin
- Legal EU residents (Bulgarians or foreigners): right to a basic account.
- British citizens and other non-Europeans without legal residence in the EU: no right to a basic account; each bank decides.
- Euro-area countries: no conversion since 2026.
Official sources (6) ›
- Българска народна банка (BNB), "Платежна сметка за основни операции" (basic payment account)
- European Commission, "Bulgaria and the euro" (euro since 01/01/2026, €1 = 1.95583 lev; dual display until 08/08/2026)
- Your Europe, "Comptes bancaires dans l'UE" (last checked on 11/05/2026)
- Your Europe, "Paiements, virements et chèques" (last checked on 28/04/2026)
- Bulgarian Deposit Insurance Fund (BDIF), home page: reimbursement of deposits up to €100,000 at each bank
- European Central Bank, EFIP secretariat, "IBAN Discrimination" (09/02/2022, working document): art. 9 of Regulation (EU) No 260/2012 prohibits the payer or the payee from specifying the Member State of the account