With us Bulgarians can experience the benefits of EUR adoption now

18 april 2024 #News

We make the EURO more accessible for Bulgarians as we are now the first bank to abandon BGN/EUR currency exchange spread and offer exchange as per Bulgarian National Bank’s official rate, 9 months prior to the planned EURO adoption date. Our customers can benefit from the service in tbi bank app, fully digitally at any part of the day.

If currently Bulgarians are losing on average around 6 BGN* in currency exchange fee for every 1000 BGN converted to EUR, now with us they will be saving these amounts. Looking at the bigger picture, according to recent data, Bulgaria is losing around 500 million BGN** annually due to exchange rate costs.

Our decision is based on our firm belief in Bulgaria’s readiness to join the Eurozone and willingness to support Bulgarians during the transition period. This is why as part of our free daily banking model we waved yet another cost for the Bulgarians thus creating even more value and convenience for our customers.

We know that the topic of joining the Eurozone has sparked numerous conversations as well as concerns of the people in Bulgaria. This is why we are here to give them some comfort by offering the fairest trade for their money in BGN and allow them to get the benefit of EUR adoption from now, with no additional cost.

Lukas Tursa

Executive Director, tbi bank

Along with BGN/EUR exchange at BNB’s official rate, our daily banking package provides customers with many benefits, including a current account with no monthly fee, unlimited free instant payments in BGN and EUR, fee-free utility payments, option to split the payments of purchases with no interest, as well as among the highest interest rates for deposits (up to 3,2%).

*Based on data from the 5 biggest banks on the market, 18.04.2024

**Based on publicly shared data from Assen Vasilev, Former Minister of Finance