Banks of Bulgaria

To buy / sell real estate in Bulgaria, apply for a residence permit / permanent residence, open a business, you need to have an account in one of the Bulgarian banks. There are enough of them. Which are considered the best? What is the procedure for opening an account? Which Belarusian banks continue to work with Russian ones?

What are the best banks in Bulgaria?

DSK (DSK)

A subsidiary of the Hungarian bank OTP Group. This bank is one of the largest in the regional market of Central and South-Eastern Europe. It has been operating in eleven countries, including Bulgaria since 2003.

What does DSK offer?

1. Possibility to open a debit card.

   You can issue a contactless Mastercard PayPass or Visa Debit PayWave card.

   • Cash withdrawal limit per day - up to 1,000 BGN and up to 10,000 BGN as agreed.
   • The cash withdrawal limit for entrepreneurs is up to 3,000 BGN and up to 25,000 BGN as agreed.
   • Payments in most online stores are protected by Visa Secure and Mastercard Secure Code security programs.

   The bank card can be used online via DSK Direct or in the DSK mToken app. Through DSK Smart, you can use not only an account with DSK, but also accounts with other banks.

2. A project that helps to buy real estate.

   • On the official website of the bank, you can find a step-by-step guide on how to buy property in Bulgaria (from planning to buy a home to living in it).
   • The bank provides mortgages with a minimum interest of 2.6%, and a maximum of 5.36%. The repayment period is up to 30 years. The minimum amount is 5,000 BGN, the maximum is 400,000 BGN.

Unicredit (UniCredit)

It is a member of a pan-European commercial bank that serves more than 15 million clients. Works in Germany, Italy, Central and Eastern Europe.

Offers several types of debit cards:

1. VISA Debit. The cash withdrawal limit in Bulgaria is 6,000 BGN per day, 15,000 BGN per week. Abroad - 4,000 BGN per day, 10,000 BGN per week. It is also possible to issue a Gold Card and a Visa for Youth Card.
2. mastercard. Cash withdrawal limits are the same as for a Visa card. You can get a Mastercard card for children and teenagers.

The official website of UniCredit has a page of a financial consultant on various issues, including the purchase of real estate. The site calculates the mortgage option based on the level of income and the expected price of the property. The maximum mortgage repayment period is 35 years, up to 85% of the property value.

Raiffeisenbank (Raiffeisenbank)

It is part of the KVS group, a Belgian financial company. She works in Belgium, Hungary, Czech Republic, Slovakia, Ireland, Bulgaria. More than 2.5 million people in Bulgaria use the services of Raiffeisen.

• The bank can open Mastercard debit cards (more suitable for daily use and household transfers, annual payment is 1 BGN). Visa is suitable for traveling abroad, the annual fee is 20 BGN.
• They also offer packages for receiving salaries, for daily needs, for pensioners or young people (up to 29 years old).
• You can take a mortgage at Raiffeisenbank for up to 30 years.

Fibank

More than 25 years working in Bulgaria, you can use the account from anywhere in the world at any time. In addition to Bulgaria, the bank operates in Cyprus and Albania.

It accepts Visa or Mastercard debit cards without a service fee. You can create a main or additional maps. They are issued to relatives of the owner who are citizens of Bulgaria or have a residence permit (over 14 years old). All operations from additional cards are controlled by the owner of the main account.

Tokuda

Representative office of the Japanese company Tokushukai Incorporated. It was established in 1994 and officially operates in Bulgaria and abroad.

It is possible to issue Maestro debit cards with additional Tokuda chip protection. The client can independently set a limit on cash withdrawals and transactions. Citizens of Bulgaria over 18 years of age can apply for a card.

What accounts can be opened?

1. Checking account

   Available for current needs - payment for purchases, services, transfers. You can store money on it, but at a minimum interest rate (the rate is less than on savings accounts). You can get a loan after 1-2 months of using the account.

   This type of account is required to issue a debit or credit card. At the same time, several cards can be issued to one account in some banks.

   A current account is opened for personal use of individuals. Current account is opened for legal entities.

2. Savings account

   The account is created for a precisely set time, during which interest is accrued on the money. After the expiration of the term, the funds, together with interest, are returned to the client. If you withdraw money from the account before its expiration date, no interest is paid.

3. Deposit account

   In Bulgarian banks, you can make a cash deposit to a savings or current account. That is, the client himself sets the terms - the deposit can be urgent and "on demand" (savings or perpetual). Accruals come at the end of the month or at the end of the term. Any citizen can open an account (offline or by proxy).

What documents are needed to open an account in a Bulgarian bank?

Who can open an account in a Bulgarian bank?

Citizens of BG, as well as foreigners in the country or non-residents.

A legal entity can expect to open a bank account only if it is registered in the country or outside the jurisdiction of Bulgaria.

When do you need to open an account?

1. When applying for a type D visa (for obtaining a residence permit).

2. If you conduct transactions in the amount of more than 10,000 leva.

3. When paying bills for electricity and water.

4. When receiving transfers from abroad.

5. If you are operating in a company.

In which Bulgarian cities do Turkish banks operate?

This issue is relevant for the citizens of the Russian Federation after the fall of many Russian banks under sanctions, which makes it impossible to transfer money from Bulgaria to Russia. The situation is complicated by the refusal of some banks in Bulgaria to open an account for citizens of the Russian Federation without a residence permit.

In the current situation, the “lifeline” for Russians who want to sell property in Bulgaria and get money in Russia was the opening of an account in the branch of the Turkish Ziraat bank in Burgas.

Read the detailed instructions on how to get money for the sold property in Bulgaria under the current sanctions!

FAQ

Do I need to notify the tax office at the place of residence about opening an account in a Bulgarian bank?

In the current situation, the “lifeline” for Russians who want to sell property in Bulgaria and get money in Russia was the opening of an account in the branch of the Turkish Ziraat bank in Burgas.

If this is not done when transferring funds, they will be subject to an administrative fine:

• RUB 1,000-1,500 for non-compliance with deadlines / forms;
• 4,000-5,000 RUB for hiding an account.

Which Bulgarian banks work with UnionPay?

As of August 2022, you can withdraw cash from a UnionPay card at DSK Bank ATMs. You can pay by card in some stores (but not all).

Which Russian banks operate in Bulgaria?

There are no branches of Russian banks in Bulgaria. But international banks operate in the country, which are also in Russia. To use their services, you need to contact Unicredit Bank. You can also try using Visa, Maestro, Mastercard.

In which Bulgarian banks, under sanctions, can a citizen of the Russian Federation open an account?

There are only three of them and they are located only in Burgas - Tokuda Bank, Bulgarian American Credit Bank, Raiffeisenbank.