The”Mass payments” service of BACB enables you to make payments, using a single payment order from your corporate account to multiple beneficiaries or to several accounts of one and the same beneficiary.
You can make mass payments:
- for the payment of salaries to your employees or commissions, fees and other remunerations to individuals, who are not employed by you;
- to the National Social Security Institute, the National Revenue Agency;
- for the payment of taxes, fines, fees etc.;
- for the payment of amounts, payable to your suppliers and partners; or other credit transfers.
Mass payments through a combined file save you time and guarantee security and convenience.
Mass payments are performed by sending and processing a combined file with data on each single transfer (bank account, bank code, amount to be paid etc.) and submission of a combined payment document for the transfer of the total amount of the transfer. The mass payments are processed in Bulgarian levs only and each separate file can only contain one account of the payer.
The file with the mass payments can be sent to the BACB:
- remotely through the Virtual Bank BACB Plus;
- submitted on electronic media at your bank office.
BACB processes the payment orders within the same business day, o9n which the mass payment order is submitted, if the payment instructions are received at the Bank by 3,00 p.m. and if all the technical requirements for preparing the mass payment file have been met.