Payments

0700 1 58 85
02/93 00 181 - phone number for 24/7 contact with the bank's cardholders
02/93 00 181
phone number for 24/7 contact with the bank's cardholders
Exchange Rates
29.2.2024
Buy Sell BNB
Fixed Rate
EUR 1.94620 1.96000 1.95583
USD 1.76710 1.84410 1.80961
CHF 2.01603 2.09603 2.05444
GBP 2.24644 2.32644 2.28624
All exchange rates

Foreign currency and BGN payments

The bank executes transfer orders within the following terms:

  • To perform a credit transfer and/or direct debit in BGN, the bank accepts payment documents (transfer orders) on paper or submitted through the “Online banking”, service registers them in the accounting system in the order of their reception, specifying a reference number, date, hour and minute, and where the payment document does not specify a date of execution, executes them as follows:
  1. through BISERA - for amounts below BGN 100 000 with a current value date - the date of their receipt, provided that the payment documents have been received by the bank by 2:30 p.m. on a business day;
  2. through RINGS for amounts exceeding BGN 100 000 and/or for express payments in BGN - with a current value date - the date of their receipt and within one hour of their receipt, provided that the payment documents have arrived at the bank by 3:00 p.m. on a business day;

Payment documents received after the specified hours are processed with a value date of the next business day.

 

  • To perform a credit transfer in a foreign currency, the bank accepts payment documents (transfer orders) on paper or submitted through the “Online banking” service, registering them in the accounting system in the order of their receipt, specifying a reference number, date, hour and minute. If the payment documents are received by the bank by 3:00 p.m. and no execution date is specified therein, transfer orders are executed by the bank depending on the client's wishes, the currency and the applicable payment system, as follows:
  1. with a value date not later than the next business day - for transfers ordered in euro on the territory of the European Economic Area;
  2. with a current value date – for express transfers, carried out at the option and discretion of the bank, for which an additional fee is collected pursuant to the Bank's Tariff;
  3. with a value date of up to two banking days from the date of their receipt – for transfers that are not ordered pursuant to item 1 and item 2.

Payment documents received after the specified time are considered received on the next business day.

For the execution of transfer orders in BGN or in a foreign currency, the client pays fees and commissions pursuant to the current Tariff for the terms and conditions, interest, fees and commissions applied by Municipal Bank AD to its operations.

Documentary operations

  • For IMPORT purposes
    • Documentary letters of credit – issued on the basis of flexible credit lines or against blocked cash. They provide security and stability in foreign trade;
    • Documentary collections – an economical and relatively secure foreign trade instrument;
    • All types of bank guarantees secured by an analogue of a credit transaction, but requiring a lower commission. They serve as a tool for securing various obligations in foreign trade.
  • For EXPORT purposes
    • Documentary letters of credit – notification, consultation, preliminary document review, in order to prevent losses from minor document discrepancies;
    • Documentary collections – an economical and relatively secure foreign trade instrument;
    • Notification of bank guarantees securing various obligations in foreign trade – consultation and assistance in submitting a claim for payment.

Documentary collection

Municipal Bank AD accepts and processes collection documents related to the export of goods, as well as documents received for collection for import of goods and services.

Collection operations are recommended for customers with long-term business relationships and established trust. Banks are not responsible and have no commitment to pay when this form of payment is used.

Documentary collection does not cover commercial and political risk, or the risk of non-payment.

Main types of documentary collections:

  • against payment of documents;
  • against acceptance of drafts.

Documentary letter of credit

Unlike the documentary collection, the documentary letter of credit is a bank's commitment to pay the buyer a certain amount for the delivery of goods or the performance of a service upon the fulfillment of certain conditions (submission of documents).

This form of payment is mainly used in cases where:

  • the buyer and seller do not have a long-standing business relationship;
  • there is political and economic instability in the buyer's country;
  • the buyer/seller has an arrangement with their servicing bank for specific financing.

Municipal Bank AD has a qualified team that offers consultation even before the conclusion of the commercial agreement for the purpose of providing maximum protection and negotiation of favorable conditions for the client, as well as consultations for drafting various documents. The bank offers preliminary review of documents, as well as discounting of documents under a letter of credit subject to compliance with certain requirements.

Bank guarantees

Bank guarantees are most often issued to guarantee the fulfillment of contractual obligations in terms of good performance or payment, but they can also be used to guarantee any other contractual obligations.

The main types of bank guarantees issued by Municipal Bank AD are:

  • Performance guarantee;
  • Payment guarantee;
  • Advance payment guarantee;
  • Guarantee for tender participation;
  • Guarantee for warranty obligations;
  • Guarantee to the Association of Bulgarian Enterprises for International Road Transport and the Roads - AEBTRI;
  • Financial stability confirmation guarantee;
  • Guarantee for securing a bank loan;
  • Rental payments guarantee;
  • Others depending on the specifics of the trade relationship.

A bank guarantee is a type of credit transaction.

Municipal Bank issues guarantees via SWIFT and in the form of an official letter, in English and Bulgarian.

The bank offers consultations and provides sample texts for various types of guarantees.