BACB executes payments with in the country and abroad in three basic currencies - EUR, USD, GBP and under strict observance of the country legislation.
Payments in foreign currencies are executed through the international SWIFT system and through the mediation of corresponden tbanks of BACB AD.
To execute payments in EUR, the bank may use its direct participation in the Trans-European Automated Real-Time Gross Settlement Express Transfer TARGET2, as well as its membership in the Single Euro Payments Area (SEPA).
Terms for acceptance and execution:
- Payment orders received by 4 pm are executed on the same business day
- Payment orders received after 4 pm are executed on the next business day
- The transfers are executed with a value date on the same or next working day
Documents for execution of transfers:
Transfers up to the equivalent of BGN 30,000:
Payment order (BACB’s form)
Transfers of the equivalent of BGN 30,000 or above:
- Payment order (BACB’s form)
- Declaration as per Ordinance No 28 of BNB (blank)
Declaration under Art. 2, para. 1 of Ordinance 28 of the BNB shall be filled in when making a cross-border transfer or payment to a third party, the equivalent of which is equal to or exceeds BGN 30,000. For transfers and payments to the EEA, the declaration is not required - Documents, which prove the reason for transfer*
- Declarations as per Ordinance 27 of BNB for transactions under Article7, paragraph 5 of Currency Law (if required)
* If the transfer is to a bank in the European Union and European Economic Area,no documents are required.
Correspondent banks of BACB
| Currency | Correspondence Bank | BIC |
| EUR | Raiffeisen Bank International, Vienna | RZBAATWW |
| USD | Raiffeisen Bank International, Vienna | RZBAATWW |
| GBP | Raiffeisen Bank International, Vienna | RZBAATWW |
