Banks in Bulgaria are exchanging banknotes and coins from leva to euro at the fixed rate without any fees until the end of June, in compliance with legal requirements and in accordance with the Law on the Introduction of the Euro in the Republic of Bulgaria (ZVERB), including when depositing leva into a euro account. No cases of fees collected in connection with the exchange have been identified. This is reported by the Association of Banks in Bulgaria.
The exchange is carried out without a limit on the amounts, and customers are served according to the cash available at the branches. For amounts over BGN 30,000, a prior request of 3 working days is required. Banks provide guidance to their customers when exchanging banknotes and coins solely for the purpose of facilitating and faster service. For example, in the case of large amounts of coins, customers can be directed to specialized cash centers equipped with coin counting machines to ensure the most convenient and efficient process. Customers can obtain information in advance via their bank's website.
When making the exchange, banks treat customers and non-customers in an identical manner. At the same time, as obligated persons under the Anti-Money Laundering Measures Act (AMLA), banks may require the completion of certain declarations and forms, in accordance with the applicable regulatory framework.
A sufficient amount of euro banknotes and coins has been provided from the first working day, so that both citizens and businesses can obtain the desired amounts in the preferred denominations through banks.
ABB recalls that until the end of January, leva banknotes and coins will be in circulation. During this period, people can safely use their leva for cash payments, without any restrictions.