Opening a bank account in Bulgaria as a foreigner (2026)

Yes, foreigners can open a bank account in Bulgaria. You almost always have to go to a branch in person with a passport or ID card, and the bank checks who you are and why you need the account. Since 1 January 2026 new accounts are in euro. If you live legally in the EU, Bulgarian law gives you a right to a basic payment account.

What changed with the euro?

According to the European Central Bank, Bulgaria switched to the euro on 1 January 2026, and lev accounts were converted automatically. DSK Bank says the conversion used the official rate of 1.95583 BGN per euro, was free of charge, and IBANs stayed the same. For you, this means a new current account is a euro account by default, and SEPA transfers within the eurozone work like any other euro account.

Which documents do I need?

It depends on your status. Here is what the banks’ own documents say:

• EU, EEA or Swiss citizens: a national ID card or passport, plus the bank’s “Know Your Customer” questionnaire (UniCredit Bulbank). If you live here, bring your residence certificate from the Migration Directorate.
• Non-EU citizens with a residence permit: an international passport and the Bulgarian residence permit (UniCredit Bulbank). Your permit shows your personal number of a foreigner (LNCh), which banks use to identify you.
• Non-EU citizens without a residence permit: UniCredit Bulbank lists an international passport and your national passport or ID card, proof of your permanent address abroad if your ID doesn’t show it, a document proving why you need the account (for example an employment contract, a certificate from a Bulgarian school or university, a notarial deed for property, or a business trip order) and the questionnaire.

If your ID is in a non-Latin script without an English translation, UniCredit Bulbank asks for an official Bulgarian translation.

Why do banks refuse foreigners?

Most refusals come from “Know Your Customer” (KYC) checks under anti-money-laundering law. Postbank’s general terms say the bank may ask for proof of your permanent address, your tax residence and tax number in each country, your job, and the purpose of the account. If you can’t explain where your money comes from and why you need a Bulgarian account, expect a “no”. A clear reason (a job, studies, a rental contract) and a tidy paper trail help most.

What is the basic payment account?

The EU’s Payment Accounts Directive (2014/92/EU) and Bulgaria’s Law on Payment Services and Payment Systems give consumers legally resident in the EU the right to a payment account with basic features. That includes people with no fixed address and asylum seekers. The account covers deposits, cash withdrawals, card payments and transfers. According to the BNB’s English text of the law, every bank serving consumers must offer it and must open or refuse it within 10 business days of receiving your documents. It cannot be tied to buying other products. Fibank and UBB describe their versions on their websites; Fibank’s is opened in EUR, at a branch only.

Tips for your first visit

• Book or call ahead and ask for the bank’s list of documents and its tariff; don’t rely on fees quoted on blogs.
• Bring your rental contract: you’ll need an address for almost everything in your first 30 days in Varna.
• Ask for a card and online banking at the same appointment.