Make Payments and Receive Payments in BGN - Bulgarian Lev
Pay in Bulgarian Levs (BGN)
Mondial Change allows you to make international payments in BGN (Bulgarian Lev) with ease. Manage your Bulgarian Lev beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply exchange commission on your BGN operations (a spread is applied on the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your client rate is always communicated transparently before the validation of each of your transactions.
Receive Payments in Bulgarian Lev (BGN)
Mondial Change allows you to receive payments in BGN (Bulgarian Lev). Payments in BGN are received in an account in your name with a dedicated IBAN. This BGN account with a nominative IBAN is provided to you free of charge. It allows you to receive payments in BGN from your clients or subsidiaries and also to hold Bulgarian Levs. The BGN can be reused to make payments in BGN. The BGN can also be converted into EUR or any other currency of your choice and repatriated to your bank account. The Bulgarian Lev (BGN) account can be located in France or other countries (see possible locations).
Do you want to hedge your exchange risk on the Bulgarian Lev (BGN)? Check our dedicated page for BGN exchange hedging
Mondial Change Answers All Your Questions About Payments in Bulgarian Levs (BGN)
What is the timeframe for a BGN payment to be credited to the beneficiary's account?
It generally takes between 1 and 2 business days for a Bulgarian Lev transfer to be credited to the beneficiary's account. However, please note that these timeframes are not contractual, and our partners responsible for executing and routing payments cannot be held liable if BGN payments are credited beyond 2 business days to the beneficiary's account.
What are the fees for a payment in Bulgarian Lev (BGN)?
The fees applied to transfers in Bulgarian Lev (BGN) generally range from 0 to 10 euros depending on the agreement with Mondial Change's trading room. The rate mainly depends on your annual BGN exchange volume and the number of Bulgarian Lev payments made during the year.
Are there minimum or maximum amounts for payments in Bulgarian Lev (BGN)?
Mondial Change and its partners verify that your Bulgarian Lev flows are consistent with the data declared during account opening and consistent with your activity volume to ensure compliance and security. If restrictions apply to transaction volumes, they will be communicated to you well in advance of the validation of your operations.
What are the specific rules for executing a payment in Bulgarian Lev (BGN)?
For BGN payments via the SWIFT network, simply provide the following information:
• Full name of the beneficiary
• IBAN
Is it possible to modify a payment in Bulgarian Lev (BGN) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Bulgarian Lev (BGN) even after it has been sent in SWIFT. If you have, for example, made an error in the beneficiary's name or account number, the correction is made through a SWIFT amendment. If the payment was not executed via the SWIFT network, then such amendments are not possible, and you must wait for the payment to be returned if applicable.
Is the Bulgarian Lev (BGN) account provided to you a bank account, and is it nominative?
The Bulgarian Lev (BGN) account for which we provide you with the details is not a bank account per se because the account holder institution is not a bank but a partner payment institution. These accounts are labeled in your name, and the IBAN attached to the account is unique. You thus have a guarantee of segregation of your funds 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 consult the page related to opening a Bulgarian Lev (BGN) account for more information.
Is it possible to hold Bulgarian Levs (BGN) in the BGN account provided to you?
You can use this Bulgarian Lev (BGN) account to receive or store Bulgarian Levs. The funds can then be reused to make payments in Bulgarian Lev or be converted into other currencies. The account is also compatible for receiving BGN payments from e-commerce platforms like Amazon or payment systems like Adyen or Stripe.
What are the holidays when payments in Bulgarian Lev (BGN) cannot be executed?
January 1st: New Year's Day (Nova Godina)
March 3rd: Liberation Day (Den na Osvobozhdenieto)
Variable date: Orthodox Easter (Velikden)
May 1st: Labor Day (Den na Truda)
May 6th: St. George's Day and Armed Forces Day (Gergyovden)
May 24th: Day of Bulgarian Education, Culture, and Slavic Alphabet (Den na balgarskata prosveta i kultura)
September 6th: Unification Day (Den na Saedinenieto)
September 22nd: Independence Day (Den na Nezavisimostta)
November 1st: National Awakening Day (Den na Narodnite Buditeli – mainly for schools)
December 24th: Christmas Eve (Badni vecher)
December 25th: Christmas (Koleda)
December 26th: Second Day of Christmas (Razhdestvo Hristovo)
History of the Bulgarian Lev
The Bulgarian Lev (BGN) is the official currency of Bulgaria, a country in Eastern Europe. As the national currency, the Bulgarian Lev plays an essential role in the country's economic and financial transactions. Its currency code, BGN, is widely used to facilitate exchanges, both nationally and internationally. The Bulgarian Lev is issued by the National Bank of Bulgaria, which is responsible for regulating and supervising the country's financial and monetary system. The value of the Bulgarian Lev is primarily influenced by economic factors such as inflation, monetary policy, and general economic conditions. Whether you are planning to travel to Bulgaria, do business, or plan investments in the country, it is important to understand how the Bulgarian Lev operates and stay informed about current exchange rates.
Monetary Policy of the Bulgarian Lev
The National Bank of Bulgaria is responsible for implementing the monetary policy of the Bulgarian Lev (BGN). Its central role is to regulate and supervise the country's financial and monetary system. The primary objective of monetary policy is to maintain price stability and promote sustainable economic growth. To achieve these goals, the National Bank closely monitors economic factors such as inflation, economic growth, interest rates, and foreign exchange reserves. It uses various tools, such as setting interest rates and regulating the money supply, to influence the economy and maintain monetary stability. The National Bank also implements exchange rate policies to support the competitiveness of the Bulgarian economy in international markets. Through prudent and balanced monetary policy, the National Bank aims to create an environment conducive to economic stability and confidence in the Bulgarian Lev.
Particularity of the Bulgarian Lev
The Bulgarian Lev (BGN) has several characteristics that distinguish it from other currencies. Firstly, it is the official currency of Bulgaria, a country in Eastern Europe. It is used for economic and financial transactions, both nationally and internationally. The currency code of the Bulgarian Lev is BGN. An important feature is that the Bulgarian Lev is a floating currency, meaning its value depends on supply and demand in the foreign exchange market. This gives it flexibility in response to economic developments and market fluctuations. Additionally, the Bulgarian Lev is issued by the National Bank of Bulgaria, which oversees the country's financial and monetary system. The National Bank strives to maintain price stability and promote sustainable economic growth. Finally, the Bulgarian Lev is widely used in Bulgaria for commercial transactions, payments, and services, making it convenient for both residents and visitors.</2>