Client Q&A on Bulgaria’s Euro Adoption

Bulgaria is set to adopt the euro on January 1, 2026, becoming the 21st EU member state to join the Eurozone. This follows positive assessments by the European Commission and the European Central Bank, confirming that Bulgaria meets all necessary convergence criteria.

Adopting the euro aims to enhance financial integration and economic stability within the European Union. Additional benefits include eliminating currency exchange costs and risks with eurozone countries, boosting trade, tourism and financial flows.

Your account balance will be automatically converted from BGN to EUR at the official fixed exchange rate of 1 EUR = 1.95583 BGN. This conversion will occur on January 1, 2026, and there will be no fees, or commissions associated with the conversion.

No, your account number and IBAN will remain the same. The only change will be the currency denomination from BGN to EUR.

No, your existing BGN account will be converted to euro. There's no need to open a new account. In case you would like to close the converted EUR account, you may request this free of charge within two months of the date of EUR adoption.

Fixed interest rates, agreed upon before the date of the introduction of the euro, shall remain the same. Variable interest rates will follow the terms of your agreement.

No, following the introduction of the euro, payment transactions in BGN will be suspended. You will no longer be able to send or receive payments in BGN - all electronic transfers will be processed in EUR.

No, you will have to create new Payment templates but will be able to use the old templates as a reference.

No, the periodic payments in BGN will be deactivated and you would have to create new periodic payments in EUR as of January 1, 2026.

These will be rejected in the channel and you would have to update/initiate these payments in EUR as of January 1, 2026.

No, as part of the converting the BGN accounts to EUR, the agreements and permissions will become part of the EUR accounts accordingly.

Yes, there will be a dual circulation period for one month during which both BGN and EUR will be accepted. After this period, only euros will be legal tender.

Yes, BGN cash can be exchanged free of charge at ING Bank branches for a period of 6 months from January 1, 2026.  During the following six months until December 31, 2026, banks may apply a service fee for currency exchanges. After this period, BGN can still be exchanged at the Bulgarian National Bank.

Yes, although initiating payments with your BGN account won’t be possible anymore as of January 1, 2026, you will still be able to select your BGN account from a reporting perspective to be able see the historical statements of transactions done in BGN.

To ensure smooth euro-based reporting, your accounting software and ERP systems will need to be updated accordingly. If your current systems are not yet configured for this transition, development or customisation may be necessary.

1. Our client services team is available to assist you: 

• Opens in a new tabBG.CustomerServices@ingbank.com
• Opens in a new tab+359 2 917 64 00
• working hours: Monday to Friday: 9:00 – 17:00

2. Visit our branch for personalised support:

• ING Wholesale Banking, Sofia Branch
• 69, Bulgaria Blvd, North Tower, floor 10,1404 Sofia

3. Reach out to your relationship manager for questions.