The bank carries out foreign currency transfers to and from anywhere in the world in accordance with the customer’s wishes:
- SEPA transfers ordered to a bank within Bulgaria – if submitted and confirmed by 19.30, are settled on the same business day (D); orders confirmed after 19.30 are settled on the next business day (D+1). An exception is made for banks participating in the IOP;
- SEPA transfers ordered to an EEA bank outside Bulgaria – if entered and confirmed by 15.00, they are settled on the same business day (D); orders registered and confirmed after 15.00 are settled on the next business day (D+1);
- SEPA instant payments in EUR within the EEA (for amounts up to 15,000 EUR) – processed 24 hours a day, 7 days a week, 365 days a year;
- Express transfers (Target) – registered and confirmed by 16.00 are settled on the same working day (D);
- Standard transfers outside the EEA or in a currency other than EUR within the EEA, registered and confirmed by 16.00, are settled with a two-day value date (D+2); orders registered and confirmed after 4.00 pm are settled with a value date of (D+3);
- Express transfer – orders submitted and confirmed by 16.00 are processed with a value date of the next working day (D+1); orders confirmed after 16.00 at a bank branch or via online banking are processed with a value date of two working days (D+2);
- Express transfers – those entered and confirmed by 16.00 are settled on the same day (D); those entered and confirmed after 16.00 are settled on the following day (D+1).
As regards the payment of costs incurred until a translation reaches the final recipient (in a country outside the EEA), there are three possible options:
- CRED option – all charges are borne by the recipient and are deducted from the transfer amount;
- SHARE option – charges up to the correspondent bank are borne by the payer, and thereafter by the payee;
- DEBT option – all transfer charges are borne by the payer, and the payee receives the net amount originally ordered.
Foreign currency transfers to EEA countries and in EEA currencies are carried out in accordance with European directives, specifically using the SHARE option, which means that the charges incurred by the payer’s bank are paid by the payer, whilst the charges incurred by the payee’s bank are borne by the payee. The correspondent banks involved in the transfer do not charge any fees.
For transfers using the SHARE option to EEA countries and in currencies other than those of the EEA, the transfer fees quoted do not include the charges levied by correspondent banks and the recipient’s bank, which will be deducted separately from the transfer amount.
All transfers and payments to and from other banks, both domestically and abroad, are carried out in strict compliance with all laws and regulations issued by the relevant regulatory authorities.
