- A basic payment account is opened and operated in BGN.
- Individual consumers legally resident in the European Union, including consumers with no fixed address and asylum seekers, and consumers who have not been granted a residence permit but whose expulsion is impossible for legal or factual reasons have a right of access to this type of account.
- The services provided for the account are in compliance with Article 118(1) of the Payment Services and Payment Systems Act (PSPSA).
- The funds in your account are guaranteed by the Bulgarian deposit insurance fund up to the amount stipulated by the the Law on Bank Deposit Guarantee.
Credit services, including overdraft facilities and credit cards, opening and maintenance of special deposits, and trades in financial assets, are not offered for this type of account.
The Bank may refuse to open a Basic Payment Account to any consumer who already has such an account with the Bank or another bank in Bulgaria through which they can use the services set out in Article 188(1) of the PSPSA, unless they have been notified that their account will be closed, or if opening the account would breach the Law on Measures against Money Laundering (LMML) and the Law on Measures against the Financing of Terrorism (LMFT).
A basic payment account in BGN enables you to perform the following basic bank transactions:
- Deposit and withdraw cash at a bank branch.
- Receive and send transfers at a bank branch or via the Online Banking service.
- Pay direct debits in BGN.
- Get a debit card and perform other payment transactions, including online payments.
- Use the account to receive your wages, student grants, professional fees or other types of income.
- Manage the funds in your account at any bank branch.
- Get secure, safe and quick access to your bank account by signing up to the Online Banking service.
- Accrue interest in accordance with the Bank’s Interest Rate Bulletin.
- Your money is at your disposal at any time of the day. You can also automatically pay monthly utility bills through the Electronic Utility Bills service using an international debit card issued to your account.
- Get statements with the latest information about the balance and transactions on your account at any bank branch.