Central Cooperative Bank Adoption of the euro as the basic currency
Dear customers,
Starting from the date of joining the eurozone, for a period of one month, the lev and the euro will be legal tender simultaneously – the so-called "dual circulation period." After the expiration of this one month, the euro will remain the only legal tender in the Republic of Bulgaria.
According to the Law on the Introduction of the Euro, the official exchange rate of the lev to the euro is the irrevocably fixed exchange rate of the lev to the euro.
The conversion from levs to euros is performed by dividing the numerical value in levs by the full numerical value of the official exchange rate, expressed in six digits, with all five digits after the decimal point. The official exchange rate shall not be rounded or abbreviated when performing the conversion.
After the conversion, the resulting amount is rounded to the second decimal place, based on the third decimal place, in accordance with the following mathematical rounding rule:
1. when the third digit after the decimal point is less than five, the second digit after the decimal point remains unchanged;
2. when the third digit after the decimal point is equal to or greater than five, the second digit after the decimal point is increased by one.
Pursuant to the Law on the Introduction of the Euro, during the period of dual display of prices of goods and services in euros and in levs, which begins one month after the date of introduction of the euro in the Republic of Bulgaria and ends 12 months after that date, the Bank shall indicate in its Tariff the amount of fees and commissions for the financial services it provides, payment documents, and customer account statements in levs and euros. In fulfilment of this commitment, Central Cooperative Bank AD will provide information on its website at: www.ccbank.bg, in the Bank's Tarrif section and in the Bank's offices.
Regarding payment systems:
Until the date of introduction of the euro in the Republic of Bulgaria – 01.01.2026, all Banks and Payment Service Providers (PSPs) established in the Republic of Bulgaria shall participate as direct or indirect participants in the local payment systems BISERA 6 and RINGS for the purposes of performing payment services in Bulgarian levs within the country.
Customer payments in Bulgarian levs currently made through the local payment system BISERA 6, operated by BORICA AD, including budget payments, will migrate to the Single Euro Payments Area (SEPA), which will be executed in accordance with the technical and business requirements for payments in euro.
With the introduction of the euro as the national currency, the real-time gross settlement payment system in levs RINGS will cease to operate. Payments previously executed through RINGS will start to be executed as payments in euros in the consolidated platform for TARGET services.
CUT OFF TIMES
BISERA 6 until 7:30 PM- RINGS until 3:00 PM
- TARGET2 until 4:00 PM
As of January 1, 2026, all banks and payment service providers will discontinue offering and performing the local "Direct Debit" service, regulated by the Payment Services and Payment Accounts Act (PSPAA) and Regulation No. 3 of the Bulgarian National Bank.
For more information on the introduction of the euro in Bulgaria, please visit the websites of the Ministry of Finance – https://evroto.bg, the Association of Banks in Bulgaria – https://abanksb.bg/evroto/, the BNB website, in a special subpage "Joining the Eurozone", where analyses, questions and answers, information materials, etc. on the introduction of the euro are regularly published, as well as on the website of the European Central Bank.
Regarding the bank's activities as an investment intermediary:
Announcement regarding the decision of the EU Council to introduce the euro as the official currency in the Republic of Bulgaria:
Dear clients,
On 08.07.2025, the Council of the European Union adopted a Decision on the adoption of the euro by the Republic of Bulgaria, in accordance with Article 140, paragraph 2 of the Treaty on the Functioning of the European Union, according to which the euro becomes the official currency of the Republic of Bulgaria, as of 31.01.2026, which is also the date of the introduction of the euro in the country.
The official exchange rate at which the national currency will be converted into euros, as specified in the EU decision, is 1 EUR = 1.95583 BGN.
Additional information on issues related to the introduction of the euro by the Republic of Bulgaria can be found on the official website for Bulgaria's accession to the eurozone, created in implementation of the Communication Strategy for Information and Publicity of Bulgaria's accession to the eurozone - here
Frequently asked questions and answers
- What will happen to my account?
From the date of Bulgaria's accession to the euro area, all payment accounts, deposit accounts, current budget accounts, savings accounts, collection accounts, liquidation accounts, and other accounts with local banks, as well as payment accounts with other payment service providers (payment institutions and electronic money companies), will be converted to euros once, automatically, and free of charge, while keeping the terms of the relevant contracts valid before the conversion.
- Will the IBAN number of my account change?
No, your IBAN will remain the same.
- Will I be able to withdraw money from my BGN account?
From the first day of the adoption of the euro, account holders will only be able to withdraw EUR from their BGN accounts, regardless of whether the withdrawal is made through an ATM (ATM)/POS terminal or at the office of the payment service provider (bank, payment institution, or electronic money institution), and cashless payments will be made exclusively in euros.
- How and where will I be able to exchange BGN to EUR?
- In our branches:
- Free in the first 6 months after the adoption of the euro.
- For amounts over BGN 30,000, a written request submitted at least 3 business days in advance will be required.
Here you can choose the most comfortable for you CCB office.
- In the Bulgarian National Bank (BNB):
- Free of charge and with no time limit for unlimited amounts.
- At Bulgarian Post Offices (in towns without bank branches):
- Up to BGN 1,000 per day – no advance request required.
- Between BGN 1,000 and BGN 10,000 per day – after submitting a request 3-5 business days in advance.
- Amounts over BGN 10,000 per day will not be exchanged.
- What will happen to my already existing debit and credit cards after the adoption of the euro?
Your current debit and credit cards will remain valid and active after the introduction of the euro until their expiry date. You will not need to replace them.
- What will happen to my unaccounted BGN transactions after 01.01.2026?
All BGN transactions will be automatically converted into euros at the official exchange rate of 1.95583 and will be accounted for in EUR in your account.
- Will there be any fees for converting amounts from BGN to EUR?
No, there will be no fees for converting amounts from BGN to EUR for transactions.
- Will I be able to withdraw EUR from ATMs in Bulgaria with my current card, which is in BGN?
Yes, you will be able to withdraw EUR with your current card, as all levs in your account will be automatically converted. After the euro is adopted as the official currency in the Republic of Bulgaria, ATMs in Bulgaria will only dispense euros, including during the one-month period of dual circulation of levs and euros.
- Will I be able to pay in EUR at physical or virtual POS terminals in Bulgaria with my current card, which is in BGN?
Yes, with your current card you will be able to pay in EUR at physical or virtual POS terminals, as all levs in your account will be automatically converted.
- Will there be any changes to my credit limit, obligations, and credit card payments?
The credit limit, liabilities, and payments in BGN on your credit card will be automatically converted into EUR at the official exchange rate of 1.95583, effective from the date of introduction of the euro, which will not change the amount of your debt.
- What will happen to my credit card interest rate?
There will be no change in the interest rate agreed between you and the Bank after the introduction of the euro.
- What will happen to the bonus points accumulated under the CCB Club program?
The bonus points accumulated under the CCB Club programme will be converted into euros at the official exchange rate of 1.95583. Currently, 1 bonus point is equal to 1 stotinka. After the introduction of the euro, 1 bonus point will be equal to 1 euro cent.
- Will I be issued a new club card after the adoption of the euro?
No, club cards will not be reissued due to the adoption of the euro. You can continue to use your current card until the expiry date indicated on it.
- What will happen to my current loan and repayment plan in BGN after the introduction of the euro?
Existing loans granted in BGN will be automatically converted into euros at the official exchange rate as of the date of introduction of the euro. The conversion of loans from BGN to euros will not have any adverse consequences for borrowers or lead to any other changes in the terms and conditions of existing loan agreements.
- Will the final interest rate on loans change after the conversion from BGN to EUR?
According to the Law on the Introduction of the Euro in the Republic of Bulgaria, for loans with a fixed interest rate, the bank will continue to apply the relevant interest rate after the introduction of the euro. In the case of loans with a variable interest rate, the transition from a variable interest rate in levs to a variable interest rate in euros will be determined by a methodology that ensures that the instalment remains unchanged.
- What will happen to the collateral when the currency is converted from BGN to EUR?
The change in the nominal value of collateral pledged/mortgaged in favour of banks and financial institutions should be automatically reflected in the special pledge register and/or the property register. In order to protect the interests of the persons who have established the collateral, no other changes in the value of the pledged/mortgaged property are allowed as a result of the automatic conversion from BGN to EUR – i.e. the replacement of the lev with the euro should not be used as a basis for changing (either increasing or decreasing) the value of the collateral.
- What procedure does the bank apply for the conversion of financial instruments in its capacity as an investment intermediary?
In connection with the Law on the Introduction of the Euro in the Republic of Bulgaria, as of the date of introduction of the euro as the official means of payment in the Republic of Bulgaria, all financial instruments denominated in levs owned by the Bank's customers will be automatically converted from levs to euros in accordance with the general principles and rules laid down in the Euro Act.
BGN → EUR
EUR → BGN