A list of the top banks in Bulgaria

Moving to Bulgaria to work, study, visit family or start a business? If you’ll be spending a decent amount of time there, it could be useful to open a Bulgarian bank account. It’s not essential, but it could make it easier to cover expenses, pay bills and get paid if you’re working.

In this helpful guide, we’ll run through the top banks in Bulgaria, including some info on the current accounts they offer. This should help you choose the right bank for you, and start the process of opening an account.

Banking in Bulgaria (an overview)

Bulgaria has a relatively small banking sector, dominated by a few major institutions. Most are focused on universal banking, serving both retail and business customers. The country’s central bank is the Bulgarian National Bank.

Opening a bank account in Bulgaria should be pretty straightforward, even if you’re new to the country. You’ll usually need to provide** proof of ID** such as your passport, and proof of a local address. There may be some other paperwork to complete, and documents to sign. An initial deposit may also be required.¹

Just be aware that not all processes and documents will be in English, so you may need a Bulgarian-speaking friend to help out.

In terms of banking fees, there are a few to watch out for. Some banks charge a monthly service fee, but it is possible to find accounts without this. You should be able to use your bank’s ATMs for free (although not always - and some banks limit the number of free withdrawals), but charges are likely to apply if you use cash machines operated by other banks.

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Top 10 banks in Bulgaria

Now, let’s take a look at some of the biggest and best banks in Bulgaria, so you can compare your options:²

Bank name	Operational HQ
DSK Bank	Sofia
UniCredit Bulbank	Sofia
United Bulgarian Bank (UBB)	Sofia
Eurobank Bulgaria (Postbank)	Sofia
Fibank	Sofia
Central Cooperative Bank	Sofia
Allianz	Sofia
ProCredit Bank Bulgaria	Sofia
Bulgarian Development Bank	Sofia
iBank Bulgaria	Sofia

DSK Bank

Part of the Hungarian-owned OTP Group, DSK Bank is one of the largest banks in Bulgaria. It offers loans, bank cards, savings, insurance and more for personal customers. You can also open a Standard Current Account, available in a choice of currencies. Depending on the currency, you’ll also get a bank card linked to the account.³

DSK also offers a range of specialist products and services for SMEs and corporate clients. Plus, insurance, investments and global markets solutions.

UniCredit Bulbank

The Bulgarian arm of the major financial services corporation UniCredit Group (based in Italy), UniCredit Bulbank is a universal commercial bank.

It provides a range of products for retail customers, including accounts, cards, loans, savings and investments. A popular choice at UniCredit Bulbank are its everyday banking plans, available in ‘Start’, ‘Plus’ or ‘Max’ - offering features and services for a set monthly fee. You can also choose to open a standard current account if you prefer.⁴

The bank also has accounts and solutions for small businesses, corporate clients, institutions and private banking customers.

United Bulgarian Bank (UBB)

UBB is a result of a major merger of 22 regional banks back in 1992, and today is one of the largest banks in terms of assets. It’s owned by KBC Group.

The bank offers accounts, payments, cards, loans, savings and more for personal customers. If you’re looking for an everyday account, the Standard Current Account is worth checking out. It has no minimum deposit requirement, can be opened online and comes with a contactless debit card.⁵

Like many other Bulgarian banks, UBB also has banking packages and plans available.

For businesses, there’s a choice of tailored solutions for SMEs, larger businesses, agri producers and other financial institutions. This includes financing and cash management services.

Eurobank Bulgaria (Postbank)

Operating under the brand name Postbank, Eurobank Bulgaria is a universal bank which serves a large range of customers.

The bank has a range of standard current accounts available. But if you plan to have your salary paid into the account, it could be worth looking at an alternative - the Super Account. If you can meet certain conditions, you’ll benefit from no monthly fees and perhaps even earn bonuses. The account comes with a debit card and can be managed via online and mobile banking.⁶

Postbank also has accounts and solutions for SMEs, corporate clients and private banking customers. This includes financing, cash management, leasing, investments and trading.

Fibank

First Investment Bank (Fibank) is a credit institution with a reputation for its innovative technological solutions. It offers a diverse range of products and services for both corporate clients and personal customers.

A popular account at Fibank is its Current Account, available in a small selection of currencies. It comes with a debit card, access to online banking and access to other products as part of a package. ⁷

For businesses, there’s a choice of current accounts, packages, fund transfer services, loans, cards and investments. Plus, private banking solutions.

Central Cooperative Bank

A part of the CCB Group, Central Cooperative Bank is a universal commercial bank based in Sofia. It offers banking products for individuals and corporate clients.

For straightforward everyday banking, the CCB Current Account is a safe bet. It lets you make transfers, deposits and withdrawals, use internet banking and spend using a linked debit card.

For businesses, the bank has accounts, loans, payment solutions and other helpful financial services.

Allianz Bulgaria

Part of the Allianz financial services company based in Germany, Allianz Bulgaria offers more than just banking. It also offers mortgages and loans, car insurance, health and life insurance, retirement provision, leasing and much more.

On the banking side of things, Allianz Bulgaria has a couple of bundled packages - Allianz Start and Allianz Start+. These include a range of products all in one, from current accounts and debit cards to credit cards and insurance (depending which package you choose). ⁸

For businesses, the company offers accounts and cards, car and property insurance, loans and business travel products.

ProCredit Bank Bulgaria

A subsidiary of ProCredit Group based in Germany, ProCredit Bank Bulgaria specialises in lending products for SMEs. But it also serves personal customers with a small selection of current accounts.

This includes the ProGreen account, which comes with a biodegradable debit card, free ATM withdrawals and free transfers in exchange for a monthly fee. It also comes with a savings account and optional overdraft or credit card. Funds held in ProGreen accounts support green investments.⁹

ProCredit Bank Bulgaria also provides business accounts, cards, loans, payment services and PoS devices, as well as private banking.

Bulgarian Development Bank

A leading development and commercial bank based in Sofia, the Bulgarian Development Bank doesn’t offer accounts or products for personal customers. It’s a state-owned credit institution, dedicated to supporting small and medium-sized enterprises.

iBank Bulgaria

Last but not least, we have Investbank, known as iBank. It’s a private commercial bank which serves both individuals and businesses.

For personal customers, iBank has a range of loans, cards and investment services. It also has accounts for everyday banking, including its Current Account “Extra+”. This has no opening fee, a small monthly fee and annual interest on your money.¹⁰

Business customers can choose from package programs, credit cards, overdraft loans and insurance.

Best online bank accounts and money management alternatives in Bulgaria

Looking for a different way to manage your money? There are also a small number of alternative ways available to manage your money in Bulgaria, including:

• Revolut - an all-in-one finance app with a debit card and banking services.

• Bunq - a mobile-first bank licensed in the Netherlands offering personal and business accounts.

• Vivid Money - a German mobile banking platform available across the EU, including Bulgaria. It offers accounts and cards for personal and business customers.

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You can even get an international debit card for spending in over 150+ countries, including Bulgaria. It automatically converts your money to the local currency at the mid-market exchange rate, adding only a low, transparent conversion fee, whenever you spend.

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And that’s it - our roundup of the top banks in Bulgaria. There are a decent number to choose from, so you should be able to find a bank that’s a good fit for your needs.

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Sources used for this article:

1. Expat Focus - How to open a bank account in Bulgaria

2. Statista - Leading banks in Bulgaria as of December 2022, by total assets

3. DSK Bank - Standard Current Account

4. UniCredit Bulbank - Everyday banking plans

5. UBB - Standard current account

6. Postbank - Super Account

7. Fibank - Current Account

8. Allianz - Allianz Start and Allianz Start+ packages

9. ProCredit Bank - Accounts

10. iBank - Current Account “Extra+”

Sources last checked on 26-Mar-2024.