What to Do with Your Old Levs and Stotinki After the Euro Introduction

As Bulgaria prepares to adopt the euro, many citizens are wondering about the fate of their old lev banknotes and coins. Fortunately, the Bulgarian National Bank (BNB) and various institutions have outlined a clear and hassle-free process for exchanging them.

The BNB will offer unlimited exchanges of lev banknotes and coins for euros, free of charge, with no time limit. This means that citizens can exchange their old levs at the official exchange rate, even years after the euro's introduction, without any additional fees.

Credit institutions, such as banks, will also allow citizens to exchange an unlimited amount of levs into euros free of charge during the first six months of the euro's adoption. However, for amounts exceeding 30,000 BGN, individuals will need to submit a prior request at least three business days in advance.

During the same period, "Bulgarian Posts" Ltd. will provide exchange services, though with some limitations. People can exchange up to 1,000 levs per day free of charge. For amounts between 1,000 and 10,000 levs, the exchange will only be available at selected post offices after submitting a request 3-5 business days in advance. Exchanges over 10,000 levs per day are not permitted. Bulgarian Posts will offer these services in locations where no bank branches exist.

For those holding significant amounts of levs in cash, it is advisable to exchange them promptly to avoid potential complications. While banks and the post office will offer convenient exchange options in the first six months, the BNB will continue to accept levs indefinitely. Additionally, for one month following the introduction of the euro, lev banknotes and coins will still be accepted as legal tender within Bulgaria.

Overall, the process of transitioning from the lev to the euro is designed to be smooth and convenient for citizens, with multiple avenues available for exchanging currency.

Source: Novinite.bg