Should you wish to live in Bulgaria for work, study, to visit family, or to start a business, you will have to apply for a visa. If you live in Bulgaria for some time, opening a bank account there can be useful. It becomes simpler to deal with your bills and wages if you have a job.
The brief state of banking in Bulgaria
There are only a small number of big banks in charge of Bulgaria’s banking sector. Most of these banks offer services for people and businesses. Bulgaria’s main bank is known as the Bulgarian National Bank.
Even if you have not been to Bulgaria, you should not face difficulties when setting up a bank account. Usually, you have to present your passport and proof of your address in the country. There may be extra paperwork and documents that you will need to sign. In specific cases, you have to make a down payment to start the process.
Don’t forget that you may have to deal with documents that are not in English, so having someone who understands Bulgarian beside you can be very helpful.
Be sure to watch out for several possible banking fees. Some banks require a monthly fee, but other banks do not charge this fee. While your bank might let you use its ATMs for free, it cannot be assumed, and some banks may limit the number of withdrawals without a charge. You are likely to be charged if you use a cash machine that is not connected to your bank.
DSK Bank
Since it is part of the OTP Group, owned by Hungarians, DSK Bank is one of the biggest banks in Bulgaria. Taking care of its customers, it provides loans, bank cards, savings, and insurance, among other services. It is possible to open a Standard Current Account, and you can select the required currency. In some places, you will get a bank card that can be used with your account.
DSK creates special services and offers products to help both small and medium enterprises and corporate clients. In addition, clients can purchase insurance, put their money in investments, and make use of opportunities in international markets.
UniCredit Bulbank
UniCredit Bulbank is a commercial bank under the UniCredit Group (based in Italy) and it gives its clients many different services.
Banks offer many services to retail customers, for example, accounts, cards, types of loans, savings choices, and investment opportunities. There are three everyday banking plans at the bank, and they are named ‘Start’, ‘Plus’ and ‘Max’. All three plans offer different features and services for a monthly fee. It’s also possible to choose a current account that matches your needs.
Small businesses, companies, institutions, and personal banking clients are able to open accounts and use solutions from the bank.
United Bulgarian Bank
By merging 22 regional banks in 1992, UBB started its operations, and today it is recognised as one of the biggest banks by asset size. This company is owned by KBC Group.
Postbank
The Postbank brand makes Eurobank Bulgaria a universal bank that offers help to various types of customers. Many types of current accounts are available from the bank. Consider the Super Account if you want to get your salary through the bank. Meeting some requirements can make you free from monthly fees, and you might be rewarded with bonuses too. You get a debit card for spending, and you can easily manage your account both on the internet and via mobile apps. People, companies, and small and medium-sized businesses can use their products. Therefore, you have to handle money, use cash, lease properties, invest funds and participate in trading.
Fibank
People appreciate Fibank for using modern technology in everything it does. It offers products and services to businesses as well as to individuals people.
Fibank has a popular Current Account that is offered in a few different currencies. As soon as you open the account, you get a debit card, access to online banking, and some other products. Banks allow customers to use current accounts, get packages, send money, apply for loans, obtain cards and invest their money into businesses. In addition, private banks give their customers personalised banking services.
Central Cooperative bank
As a member of the CCB Group, Central Cooperative Bank acts as a universal commercial bank in Sofia. Banks serve people as well as businesses by offering them banking services.
If you want a basic bank account, the CCB Current Account might be the right pick. You are allowed to move your money around, use internet banking, withdraw from your account, deposit funds, and spend using your linked debit card. Companies may turn to the bank for accounts, loans, various ways to pay, and useful financial services.
Allianz Bulgaria
Since it belongs to the Allianz financial services group from Germany, Allianz Bulgaria adds more benefits to the usual banking services. In addition, the bank allows people to apply for mortgages and loans, car insurance, health and life insurance, retirement benefits, leasing, and several other services. The bank offers its customers packages called Allianz Start and Allianz Start+. Among the items you can get are current and debit accounts, credit cards, and insurance (these are available in some of the offers).
Customers can get accounts, cards, car and property insurance, loans, and travel services for business from the company.
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