Electronic money

Term: 2 years.

Currency: EUR, USD

Minimum amount: 1000 currency units

Electronic money (e-money) can be used freely by the client for payments in Bulgaria and abroad. The cash, against which the bank issues e-money, does not represent a bank deposit or account.This money is protected to a maximum extent, pursuant to the Payment Services and Payment Systems Act, because:

  • BACB reports this money in a special escrow account, separately from the conventional money of clients, who are not holders of e-money, as well separately from the Bank’s own money;
  • The Bank has no right to use this money  for its normal operations and activities;
  • The Bank transfers, deposits and stores this money  in a bank account of its own with another bank with  good standing and high ranking.

Owners of e-money: individuals, legal entities (except financial institutions) and sole-proprietors.

Purchase: On the date the client purchases e-money, the bank signs a contract with him/her and issues a certificate with a unique number.

Interest rates: E-money does not bear interest.

Depositing money: Depositing additional amounts of money is possible at any time in the amount not exceeding 80% of the amounts deposited by the same client of BACB.

On maturity: On the date of the term of the contract and one (1) year after that the client has the right to request complete repurchasing of the e-money without paying fees for repurchasing.

Repurchasing of e-money: The client may, at any time throughout the duration of the contract, request the partial or complete repurchasing of the e-money in his/her possession, including by a payment order with the e-money. The request may be submitted at any BACB office, as well as through a message with free wording, sent through the Virtual Bank BACB Plus.

Fees and charges: According to the List of terms and conditions of the bank.

Where and how can the e-money bought: E-money can be issued and repurchased back at their nominal value at any office of the Bank.