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Bulgaria – Banking

Bulgaria is a country in Southeast Europe that has a well-developed banking system. Whether you are an expat living in Bulgaria or just visiting, it’s important to know about the banking options available to you. In this article, we’ll answer some common questions about banking in Bulgaria, including the main local banks, presence of UK and USA banks, accounts and services for expats, bank opening hours, areas of concern, and how to open a bank account as an expat.

Main Local Banks in Bulgaria

There are several local banks in Bulgaria that offer a range of banking services, including account management, loans, and investment products. Some of the main local banks in Bulgaria are:

There are no major UK or USA banks that have a presence in Bulgaria. However, some international banks that have branches in Bulgaria include Citibank and Société Générale.

Accounts and Services for Expats

Banks in Bulgaria offer a range of accounts and services for expats, including:

  • Multi-currency accounts – These accounts allow expats to hold and manage multiple currencies, which can be useful if they are receiving income from different countries or making payments in different currencies.
  • Online banking – Most banks in Bulgaria offer online banking, which allows expats to manage their accounts, make payments, and check their balances from anywhere with an internet connection.
  • English-language services – Some banks in Bulgaria offer English-language services, including customer support, account management, and documentation.

Bank opening hours

Bank opening hours in Bulgaria vary depending on the bank and location. Generally, banks in Bulgaria are open from 9:00 am to 5:00 pm, Monday to Friday. Some banks may also be open on Saturdays.

Areas of Concern

One area of concern for expats in Bulgaria is the high number of fraudulent activities related to banking. It is important to be vigilant and avoid giving out personal information or account details to anyone who is not a trusted representative of the bank. It is also recommended to monitor account activity regularly and report any suspicious transactions to the bank immediately.

Opening a Bank Account

If you are an expat looking to open a bank account in Bulgaria, here are the steps you need to follow:

Step 1: Choose a bank

Research the different banks in Bulgaria and choose the one that best fits your needs. Consider factors such as account fees, interest rates, and available services.

Step 2: Gather your documents

You will need to provide certain documents to open a bank account in Bulgaria, including:

  • A valid passport or ID card
  • Proof of address, such as a utility bill or rental agreement
  • Proof of income, such as a pay slip or bank statement

Step 3: Visit the bank

Visit your chosen bank’s branch and speak to a representative about opening an account. They will provide you with an application form to fill out and ask for the required documents.

Step 4: Wait for approval

The bank will review your application and documents and may require additional information or documentation before approving your account.

Step 5: Activate your account

Once your account is approved, you will receive an account number and other relevant information. You will need to activate your account by making an initial deposit. Once your account is activated, you can start using it to make deposits, withdrawals, and transfers. You may also be able to apply for additional services such as a debit card or online banking.

In conclusion, banking in Bulgaria is a relatively straightforward process for expats, with a variety of banks and account options to choose from. By following the steps outlined in this article and gathering the necessary documents, you can open a bank account in Bulgaria with ease.


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