Banking In Bulgaria

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In keeping with its entry into the EU, the banking system in Bulgaria has done a lot to reform itself over the past years, becoming more open and transparent. As in any country, if you open a bank account in one of Bulgaria's banks, you should compare commission rates for money transfer to and from Bulgaria. In most Bulgarian banks you will find a few English-speaking employees to help you, probably in the foreign exchange department.

Outside of the major cities and tourist areas, Bulgaria is largely a cash economy although ATMs are attached to most banks. In recent years the practice of using debit cards has become more widespread, although payment with personal cheques is practically unknown and little used as a method of payment. However, payment by debit cards is accepted in some of the retail chains and gas stations and is increasing in popularity. Foreigners are the main users of cheques and credit cards.

The Association of Commerce Banks is a body that represents all recognized financial institutions in Bulgaria, and as such acts as a bond of reputability. The full list of Bulgarian ACB member Banks is listed below:
Bulbank
Biochim
Central Cooperative Bank
Economic & Investment Bank
Demirbank
Encouragement Bank
Eurobank
ING Bank
First Investment Bank
Roseximbank
Expressbank
Societe Generale
Union Bank
United Bulgarian Bank
Bank DSK
Procredit Bank
Tokuda Bank Plc