Lev is the name of the Bulgarian currency, which has been preserved for a long time. International code ISO 4217-BGN. One lev consists of one hundred stotinki.

For a stable national exchange rate, since 2002, the country has been applying the recommended regime of the Currency Board, which is pegged to a stable European currency. Before the introduction of the euro, the lev was pegged to the German mark.

After the introduction of the euro, the People’s Bank of Bulgaria reoriented the lev to the new European currency. The exchange rate of the lev against the euro all this time has been at the level of 1.96 leva = 1 euro. For the dollar, the rate is approximately 60-70 cents per 1 leva.

In 1999, the process of exchanging banknotes was carried out in the country. Now the year of issue, indicated on all banknotes, is not earlier than 1999. It cannot be said that there were many cases of fraud, but it is worth bearing in mind that banknotes from 1991-1998 are considered invalid.

Where to change money?

As in many other countries, in Bulgaria the national currency can be purchased:

in banks, their representative offices or branches;
at exchange offices.

Each option has its pros and cons. Banks are more reliable structures and often offer better rates. One of the best options is United Bulgarian Bank. However, its representative offices are far from being in all seaside resorts.

The work of banks is limited to a certain schedule, usually from 9.00 to 15.00. When applying to the bank, you will need a foreign passport.

Exchange offices work for a longer time, some – until late in the evening. However, the course in the evening is not very profitable. In addition, you must first make sure exactly whether a commission is charged and in what amount. This should be clearly stated in the ad, but not all exchangers strictly adhere to this rule. But at the exchange points they will not require a passport.
What currency is better to take with you?

Considering Bulgaria’s membership in the EU and the peg of the lev to the euro, it is best to have a sufficient amount of the single European currency when traveling to this country, which will be exchanged at any bank or exchange office. Almost everywhere you can exchange dollars. Many exchange offices on the Black Sea coast also work with Russian rubles during the high season. In extreme cases, you can take advantage of this opportunity. However, it is preferable to have euro or dollars and British pounds.

How to transfer money to Bulgaria from Russia

If you buy a property in Bulgaria, have a residence permit here or just come to relax, you may need to transfer money to Bulgaria. Transfer methods depend on the purpose and the required amount.

1. If you need to transfer a large amount (for example, to buy real estate) to a Bulgarian legal entity or individual, then the most reliable and easiest way to open a foreign currency account in any bank in the Russian Federation. Find out the tariffs for servicing such an account and the tariffs for currency transfer in the banks themselves. At the moment, for example, Avangard and Alfa-Bank have the most attractive rates (about 0.2% of the transfer amount, but not less than $15).

To transfer the currency, it will be necessary to provide the currency control of the bank with a document-the basis for the transfer. In general, this is an agreement on the basis of which services are provided or a purchase takes place (for example, a preliminary contract for the sale of real estate, a notarial deed).

Don’t forget to connect to internet banking. Through it, you can make a transfer from anywhere in the world (for currency control, scanned copies of the necessary documents are uploaded to the site).

2. If you need to transfer a large amount to yourself, then in addition to opening a foreign currency account in the Russian Federation, you will need an account in a Bulgarian bank. It costs about 10 leva to open an account (you can open it by proxy). It is necessary to notify the tax office in the Russian Federation that you have opened an account abroad. This must be done within a month after opening. To do this, you need to submit two copies of the application. You keep one (with a tax mark of acceptance) for yourself. It will serve as the basis for the transfer for the bank’s currency control.
Specify that a Bulgarian bank may charge a fee for currency transfers.

Form of tax notification about a foreign account

3. If you need to transfer small amounts to Bulgaria once or constantly, then the most convenient way to do this is through a debit or credit card of a Russian bank. Those. You just need to open such a card in a bank in the Russian Federation (it is not even necessary to open a foreign currency account) and you can withdraw money from any ATM or bank in Bulgaria. Cash withdrawal fees vary by bank. For example, Avangard Bank takes 120 rubles for each operation, Svyaznoybank does not charge any commission when withdrawing more than 3,000 rubles (at the exchange rate), Unicredit does not charge any commission when withdrawing from Unicredit ATMs in Bulgaria.

When using this method, the following points must be considered:

Most ATMs in Bulgaria do not allow you to withdraw more than 400 leva, and if you have a commission for receiving cash, but you need to withdraw a large amount, then the bank commission will be deducted for each transaction. There is no limit of 400 leva if you receive money from the bank.
And the most unpleasant thing is that Russian banks can block a card account due to the fact that “the card has been compromised and the data may be known to third parties” (in fact, it was simply used outside the Russian Federation). You will not get any sane answers from the bank about the real reasons for blocking. This happens at different banks, but with a 100% probability, Petrocommerce will block your card. Therefore, it is better to have several cards from different banks.

4. A small amount (usually not more than 5,000 US dollars) can be transferred to your account in Bulgaria by your close relatives. To do this, they need to have a currency account in a Russian bank and, when transferring, provide confirmation of family ties to the currency control of the bank.

Of course, not all ways of transferring money to Bulgaria are described here, but these, in our opinion, are the most effective.

A few practical tips:

do not deposit or transfer to your account in the Russian Federation more than 600,000 rubles at a time. If this amount is exceeded, you will automatically be in the field of view of security personnel. This is how the state “fights” corruption and money laundering
although Bulgaria is part of the EU, it is better to open a foreign currency account in US dollars, and not in euros. Most Russian banks convert through dollars. Those. when transferring to leva, the amount from the euro account will be first converted into US dollars and only then into Bulgarian leva and you will incur additional costs when converting Euro – Dollar.