Dear clients,

BACB informs herewith that as of 6th August 2021:

1/ It is necessary for clients to have a current account in their name in order to open a new deposit or an initial active one exceeding the amount of the equivalent of BGN 200 000. This is not applicable for Online deposits.

2/ the Bank ceases opening of accounts (current and deposit) for individuals and corporations in GBP.  Regarding the clients who already have GBP accounts (current and deposit) the following should apply:

For individuals:

• With time deposits –all deposits in GBP must be closed as of 31st October 2021. For all the deposits maturing in the period between 6th August 2021 and 31st October 2021 if the client does not arrange to transfer the funds (before or at maturity) the Bank will renew the deposits on its maturity for the same term and interest rate to be applied will be 0.00%. This will be an automatic and one-time only renewal.
• With current accounts- all accounts in GBP must be closed as of 15th October 2021

For corporations:

• All accounts in GBP must be closed as of 31st August 2021.

At the expiration of the terms mentioned above if a client of the Bank still maintains accounts (current and deposit) in GBP in that case the Bank may officially close the accounts in GBP, exchange the available balance in the currency of the current account other than GBP as per the official rate at the day of the transaction and transfer the amount to this current account that is in the name of the client without any fees charged.

Or if the client does not maintain a current account in different currency in that case the Bank may officially open a transit account in BGN in the name of the client, exchange the GBP available balance in BGN as per the official rate at the day of the transaction and transfer the amount in the newly opened transit account without any fees charged.

Interest Rates Terms valid as of August 06, 2021

Sincerely yours,
BACB