Due to the Euro Adoption: Banks Ready to Extend Fee-Free Cash Deposit Period

The largest banks in Bulgaria are prepared to extend the deadline for depositing cash into accounts without fees in order to ease the transition from the lev to the euro after 1 January, a review by BNT News has shown.

According to data from the Bulgarian National Bank (BNB), 640 tonnes of banknotes and 7,700 tonnes of coins will need to be withdrawn from circulation. At present, the five major banks allow fee-free deposits within different timeframes – from late September to the end of December – but in the event of increased demand, this period will be extended.

To qualify for fee-free deposits, customers must place the funds into their own account, either personally or through an authorised representative. For larger sums exceeding 30,000 leva, most banks also require prior notice.

“Introducing the euro is not something that happens every day, so it is only natural that people have concerns. That is why we decided to give our clients the opportunity to deposit their banknotes in advance without fees, either in branches or at deposit-enabled ATMs, of which our bank has a significant number. We also have a subsidiary in Croatia, from which we learned valuable lessons on how their transition was managed. It is important to avoid crowds in the banks during the first days and months of 2026, which is why we made this option available much earlier. On 1 January 2026, all deposits made by our clients will be automatically converted at the fixed euro exchange rate, in line with the law on the introduction of the euro in Bulgaria,” said Michaela Temelkova.