Mondial Change Answers All Your Questions About BGN - Bulgarian Lev Accounts
How to open a BGN (Bulgarian Lev) account?
Opening an account is very simple.
- Send us your request to open a BGN account via the form on the left or through the account opening form. We will contact you to schedule a phone call to fully understand your needs regarding BGN flows.
- Following this discussion, we will assist you with the administrative formalities to open access to the services of one of our partners, selected based on your needs. We remain your sole point of contact for the entire client relationship.
- Once access to the services is validated, you can request the opening of your Bulgarian Lev account and any other eligible currency. The banking details of your BGN account are generally provided within a few minutes, and you can start receiving and making payments in BGN (Bulgarian Lev).
- If your business evolves and you have needs in other currencies, you can request the addition of an account in another currency at any time.
What are the fees associated with opening a BGN (Bulgarian Lev) account?
Access to our services and the provision of currency accounts are completely free. Our remuneration is solely based on the exchange rate applied to your purchases/sales of Bulgarian Lev. This exchange rate is always communicated transparently before the validation of your transactions.
Is the BGN (Bulgarian Lev) account a personalized bank account?
The Bulgarian Lev (BGN) account for which we provide the details is not a bank account per se because the account-holding institution is not a bank but a partner payment institution. These accounts are registered in your name, and the IBAN associated with the account is unique. Thus, you have a guarantee of fund segregation in the books of our partners. The security guarantees for your funds are similar to those offered by traditional banks. The account can be located in different countries according to your operational needs. Please refer to the page related to opening a Bulgarian Lev (BGN) account for more information.
In which countries can the BGN (Bulgarian Lev) account be located?
It may be useful for your BGN (Bulgarian Lev) account to be located in France or, conversely, in another country, depending on your operational needs and the location of your clients. This is why we allow great flexibility in the location of currency accounts. The BGN (Bulgarian Lev) account can be located in the following countries of your choice:
- France
- Bulgaria
- United Kingdom
- Belgium
- Netherlands
You can consult the updated table of possible BGN (Bulgarian Lev) account locations here: account locations
Is it possible to hold BGN (Bulgarian Lev) in the BGN account?
You can use this Bulgarian Lev account to receive or store BGN for as long as you wish as long as your account is active. You are automatically notified by email each time a Bulgarian Lev transfer is received in your BGN account. You can then freely reuse these BGN to make payments in BGN to your suppliers or convert your Bulgarian Lev, benefiting from very competitive exchange rates. There is no obligation for account movements.
Is the BGN (Bulgarian Lev) account compatible for receiving BGN from marketplaces like Amazon or collection systems like PayPal?
Foreign currency payment collection systems like Adyen, Stripe, PayPal, Hipay, or internal systems of marketplaces like Amazon Pay are widely used by companies conducting international transactions. These systems are efficient, but if you do not have an account in the collected foreign currency, your revenues in that currency are automatically converted into euros at often very unfavorable exchange rates, and even when you have a bank account in the collected currency, this account often needs to be located in the country where the sale takes place, which can be complicated with a traditional bank. Some of our partners offer currency accounts compatible with most marketplaces and collection systems.
Besides BGN (Bulgarian Lev), what other currencies are available for account opening?
You can find all eligible currencies for currency account opening by visiting this page.
Can checks, cash, or the funds in my BGN (Bulgarian Lev) account be used with a bank card?
It is not possible to deposit checks or cash into your BGN (Bulgarian Lev) account. Only bank transfers are accepted for transactions on the account. No bank card can be linked to the account at this time.
Are account statements listing all transactions in BGN (Bulgarian Lev) available?
Account statements listing all operations in Bulgarian Lev are downloadable at any time from the online interface. These statements include maximum information on beneficiaries, the origin of funds, related exchange operations, to facilitate the work of your accounting department.
Can the entries of the BGN (Bulgarian Lev) account be integrated into an ERP or TMS like SAP, SAGE, AGICAP, or Kyriba?
All account statements can be automatically integrated into your treasury software or ERP via MT940 files. Thus, you find all BGN (Bulgarian Lev) movements in your software, and you do not even need to connect to our online interface to obtain the up-to-date balance of your BGN (Bulgarian Lev) account. Our technical teams can also automate the processing of currency payment files provided by your TMS/ERP.