Electronic money

Currency: EUR, USD

Minimum amount: 1000 currency units

Maximum amount: Up to 80% of the amount of client’s new cash, deposited in a BACB account after 04.08.2014. The remaining 20% must remain in a payment, deposit, savings or other account of the Client at the Bank, as of the date of purchasing the e-money, and after that the client can dispose of this money at his/her discretion.

Benefits:  Electronic money (e-money) can be used freely by the client for payments in Bulgaria and abroad 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 as separately from the Bank’s own money;
  • The Bank may not 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 of good standing and high rating.

Owners of e-money: individuals, legal entities (except for 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, the remaining 20% should be deposited to a current, deposit, savings or another client’s account with the Bank as of the date of purchasing the e-money, and after that the Client is free to dispose of that money at his/her discretion.

On the contract expiration date:  On the date of expiration of the contract and within 1 year after that, the Client is entitled to request the complete repurchasing of his/her e-money, without having to pay any repurchasing fee.

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

Fees and charges:  According to BACB’s Tariff.

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

Miscellaneous: The Client’s cash received, against which BACB issues e-money, is not a deposit or other recoverable money, in accordance with the Credit Institutions Act and is not guaranteed within the meaning of the Bank Deposit Guarantee Act.