Banks distinguish account holders from non-account holders for euro exchanges

 

In violation of the Law on the Introduction of the Euro, some commercial banks are charging fees or setting other restrictions on the exchange of Bulgarian leva into euros since January 1, according to reports by the Bulgarian National Radio from bank offices in Sofia.

Under the Law on the Introduction of the Euro, during the first six months of 2026 banks are required to exchange banknotes and coins from leva into euros free of charge and in unlimited quantities at the official exchange rate of 1.95583 leva per euro. However, this is not the case in some bank branches.

“No fees are due from January 1 to June 30, whether for the exchange of coins or banknotes”, said Vasil Dimitrov, Program Director for Euro Adoption at one of the major commercial banks, in an interview with BNR. He noted, however, that it is advisable for the exchange to be carried out at the bank where people hold accounts, deposits, or cards, in order to avoid additional verification steps and declarations of the origin of funds, allowing the process to proceed more quickly.

Edited by Ivo Ivanov

Translated by Kostadin Atanasov