Bankers called on people not to wait the last moment replaced the cache of levs in euro

The banks are fully ready for Bulgaria’s entry into the euro area and in the preparation for this they have invested BGN 400 million. All the overwhelming of the money on the bills, the deposits and loans will be automatically and will not cost the citizens. This was announced by representatives of the banks at a conference on innovation and security in the sector.

They called, in the presence of a positive report on the entry of Bulgaria into the euro area, not to postpone the transfer of the funds held for the last moment, as this will take time and to use the six months between the decision to accept Bulgaria to the euro area and the actual entry.

Banks managers hope that after a few times postponed and after the preparation of the systems now, this time Bulgaria will indeed accept the euro from January 1, 2026 « For me and my colleagues everything is clear. People are used to the euro … The banks have already begun that there are not enough prices. The process to feel safe, « commented Petya Dimitrova, chairman of the Association of Banks in Bulgarians. He pointed out that the organization plans after confirming Bulgaria’s admission to the euro area to launch a mass campaign in various channels, which explains to people the change in an affordable way.

He emphasized that banks are currently under double regulation – that of the BNB, and that of the ECB, as Bulgaria has been a member of the Banking Union since 2020. But because it is not in the euro area, Bulgaria is not on the table on which the decisions are made.

He expressed his bewilderment that the issue of the course on which the euro will be exchanged is constantly emerging, provided that Bulgaria has been in a fixed lion currency board for so many years.

Both she and other colleagues of her, who participated in the conference, called on people to gradually turn the available levs, not to wait for the last moment. According to her colleague Nikola Bakalov, the executive director of FIB, the big challenge will be just that – to exchange banknotes and coins in circulation. « To turn BGN 30 billion in one day it cannot be done … Let’s not make our lives difficult and go on January 5th and to be surprised why we are all there and we want to change our levs in euros, » he commented. He has called for the use of the euro 6 months before the euro is accepted and to put those available money into the banks, which will automatically and freely exchange when entering the euro area.

Miroslav Vichev, Chief Executive Director of Payment and Card Operator Borika, has announced that all the infrastructure related to payments in euro has been provided and that even many banks are currently making real Euro payments as from January 1, if this deadline for adoption of the euro is complied with, everything will be transferred to this infrastructure. He points out that customers and traders should not feel anything when passing into this system.

Meanwhile, several associations, along with the banking, expressed in a general declaration of support and readiness for Bulgaria’s accession to the euro area of ​​January 1, 2026. It stated that the introduction of the euro from January 1, 2026 was a strategic step towards increased economic stability, access to cheaper financing, increased reinforcement. « The delay in the process would mean missed benefits and economic uncertainty. The euro is not just a currency – it is a commitment to stability, predictability and economic development, » organizations said.

The declaration was signed by the Association of Banks in Bulgaria (ABB), the Bulgarian Association of Supplementary Pension Companies (BADDPO), the Association of Bulgarian Insurers (ABZ), the Bulgarian Association of Management Companies (Baud), the Bulgarian Risk (Balip), the Bulgarian Association (Balip), and the Bulgarian Entrepreneurial Association (BESCO). It was sent to the chairmen of the European Commission, the European Central Bank and the European Parliament, as well as to the President of the Republic of Bulgaria, the President of the National Assembly and all parliamentary groups.