What type of payments do you use in Bulgaria

I use wise and cash. I'm a bit of a luddite when it comes to banking in the UK and don't use internet services at all, but I find wise excellent for travel needs. The bank transfer system has worked well for payments when ordering furniture for timed delivery. Wise has a small allowance for fee-free cash withdrawal, about 450lv per month. We use the cards mainly for fuel, groceries in the supermarket, and DIY stuff in the large stores. I've not got as far as residency, so haven't had the privilege of dealing directly with the banks in BG, I'm sure it will be an experience when the time comes!

When I have visited I always use my debit car from Revolut, never had a problem, I also have cash to pay for anything that doesn't use cards.

I am definitely getting Wise- i hear only good reviews about them.

I mostly use Wise, but also have accounts with UBB and FI Bank.  In Bulgaria, there are still many small businesses that don't except cards - only cash, so cash is important to be able to access.

I've never had any problems with Wise, they've always been excellent and transfers from my UK account to Wise are at lightening speed (instantaneous / seconds).  The fees are low and transparent.  As is probably the case with other banks, when using your Wise card, radom checks sometimes happen with contactless payments, where you're required to insert your card and then key your pin. This is normal, to prevent fraud.  All contactless payments are over 100 Leva require pin number.   Another really useful feature of Wise, is being able to start another currency account instantly, to facilitate travelling to other countries - the Wise exchange rates are excellent.

I'm another Wise afficionado but I also have a UK current account and a couple of BG ones. It's rare for me to need cash for payments, apart from tradesmen or tipping.

I noticed when I want to pay with credit card in a restaurant sometimes  they lie that their post terminal is not working.

The real reason is that there is no room on the credit card receipt to write a tip( a big flaw in the system in Bulgaria). So if you do not carry cash, you cannot give then tip. I find this practice annoying. I normally carry very little cash but this practice makes me always have some levas available.

Seems like nobody uses rewards credit card there.  I like the bonus money- it really nicely adds up. I never had  a problem ( believe it or not, hopefully never happens in the future either).

On the other hand I also have noticed that Bulgaria is still quite a cash country. Even my lawyer asked me to pay 1/2 of her fees in cash " if this was convenient for me".

No, mate - the REAL reason is that there's a paper trail when you pay by card: cash is not only king but also invisible....

yep

wise and a BG bank

My Uk bank started charging large amounts for cash removals and currency exchange, so I now transfer from UK bank to wise, if I need more cash then the wise allowance then I transfer to BG bank from wise, that can take a couple of days if you time it wrong so I always keep about 1k in the BG bank then replace what ever I take out

Just and only cash. Cash is freedom and prevents people from governmental overreach. The wary people of Bulgaria understand this and I am fully supporting it.

    Just and only cash. Cash is freedom and prevents people from governmental overreach. The wary people of Bulgaria understand this and I am fully supporting it.
   

    -@MrM95

"Cash is freedom and prevents people (sic) from governmental overreach"? I guess that's a roundabout way of saying "I'm a tax-dodger"?

Sounds rather like Leona Helmsley's philosophy in life: "Only the little people pay taxes" - the jury of tax-payers didn't seem to share the sentiment when they sent her to prison..... apparently "freedom" comes at a price!

So easy to pay with a card almost everywhere  using my phone or watch.  cash needed for farmers market or some smaller cafeteria restaurants. Visa and MasterCard are fine. Almost nobody accepts American Express.  I have to pay my utilities and rent in cash at an easy, pay kiosk and keep cash for doing tips at restaurants and to pay taxis. 

@TonyFF

I use my Barclays debit card or my BG debit card.

Bulbank charges a monthly fee to have it

It's around 4lv a month..but no direct debit..my wife does our SOT..TV/WiFi

Electric and water on her bank account from her bg pension.

Other than that..I carry enough cash for my stay in BG..around 3months..and we go 50/50..sometimes.😂

I haven't moved full-time yet, but when there I use either cash or my Wise card. Wise to pay bills via epay or shop online at Bulgarian stores or to withdraw cash as I need it. Cash at places that expect cash, the village shop, post office, local buses, cafes, etc. Epay is so convenient as I can pay my utilities even from the UK, the exception is water which in my region I need to pay at the post office.

Keeping a balance on the Wise card in BGN makes it easier and cheaper as there's only the one conversion charge to pay when I move money from USD or GBP to BGN in Wise. Their fees seem reasonable, far less than I've been charged by UK banks for using their cards in other currencies when the banks' dire conversion rates are factored in.

@janemulberry

You don't need to actually keep a balance in Leva or whatever with a Wise card.  As long as you have set up an account in whatever currency(ies) you intend to carry out transactions in, you then only need to keep a balance in any one of them.  When you spend money in one of the other currencies and don't have sufficient in that currency, Wise just converts as much as necessary from the other account(s) which do have balances.  I just keep sterling in my card and it's converted as and when I spend Leva, Euros or whatever; the transaction and exchange costs are just the same as if I'd done them myself.  The only time I find it worthwhile to do the conversion is if the pound is at a high at a given time, and I want to take advantage of the rate because I'm intending to spend a lot of Leva or Euros in the near future (or if the pound is weak and I want to change substantial sums from the other currencies into sterling).

Thanks, Jim, I didn't know that! I thought one needed to hold a balance in whatever currency, not just have an account.

Thankfully I don't think my ignorance has cost me much because I set up auto conversions, so my money only moves between currencies when the exchange rate is good enough. But it's good to know and good to have the correct info here.

I am shocked that nobody uses a credit card-  there are so many advantages; you have 60 days to pay it, meanwhile your money make interest in the bank; you get percentage money back as well ( like in my case). Using cash does not make any money for the user.

For  Wise makes senses: i see a benefit :  the ability to jump between currencies and make payments in Bulgaria in leva when needed. But a debit card use is a big NO for me.

I have been studying the Bulgarian banking system- it is very predatory and has many fees. It is almost not worthy to have a Bulgarian account.

Tony, it may depend on your credit card. With UK cards, there tends to be a significant fee for any non-sterling transactions. I started using Wise for all my non-GBP spending when I finally noticed just how much those fees on my Amex credit card were adding up to. Far in excess of the cashback and the advantage of delaying payment.

Bulgarian banking appears to be like UK banking was forty years ago, the fees, especially Unfortunately some of us will need to have a Bg account to obtain residency, but I will try to avoid using it as my primary banking.

@janemulberry

Aren't there any non-fee cards in the UK? I have 2 rewards cards that do not charge anything including international transaction fees. Amex is no good. I never even cared to apply for one.

Residency is something very relative- one can live in Bulgaria forever on extended permit.  Just renew your card  once a year and move on. No obligations, no commitments......

I'm pretty sure in my case I will need to apply for residency. And I want to commit to living in Bulgaria!

There could well be UK credit cards that offer both rewards and no fees for non-sterling transactions, but I'm not aware of them, and the value gained from having one doesn't seem worth the time required to research and apply.

The US credit card market is far more competitive therefore offers far better deals. You'd probably be shocked at the limited offerings on the UK market

@JimJ

I ended up not giving any tips a few times due to the above ( not because I did not want to , but because I did not have any cash).

Cash, Revolut and bank cards

        Just and only cash. Cash is freedom and prevents people from governmental overreach. The wary people of Bulgaria understand this and I am fully supporting it.        -@MrM95

"Cash is freedom and prevents people (sic) from governmental overreach"? I guess that's a roundabout way of saying "I'm a tax-dodger"?

Sounds rather like Leona Helmsley's philosophy in life: "Only the little people pay taxes" - the jury of tax-payers didn't seem to share the sentiment when they sent her to prison..... apparently "freedom" comes at a price! -@JimJ

No. I can see the future where one can just pay with government-issued CBDCs. As it is the case in some parts of China already.

And then you say one wrong word against the government and they can just block you of the payment system. And then?

Since COVID everyone saw how easy and fast it is to be declared a "enemy of the government" just because you do not wanna follow the herd and have your own opinion.

So we should never give away the freedom of cash. Once its gone, it will never come back.

In some parts of Europe I cannot even go into a parking house anymore, because they do not accept my cash. It is frightening but I will never give in. I love Bulgaria for accepting my cash everywhere.

@MrM95

Totally with you on this one. Cash is indeed freedom, we must never EVER lose the ability to use cash for goods / services. China has been talked about as the "role model" country, with its credit score system and increasing its digital currency (cash is fast becoming outdated) This gives the government bodies greater and tighter control over their citizens.  😦

@MrM95

Seriously? Where do you think the cash that "frees you from the government" comes from, for Goodness' sake? 

Governments control both the supply and value of the cash in your pocket (or under your mattress), and they can change either with the snap of the fingers. It's always good to have a hobby but there are probably better ones than paranoia.....

I do find the increasing social control aspects attached to digital currency concerning. 

But as Jim says, where does cash, in the form we currently know it, come from in the first place? Printed by the government. Distributed by the government.  Its value is controlled completely by the government. Its only "free from the government" once it gets into your hands. And even then, the freedom is something of an illusion.  The government can make that cash in your hands worthless whenever it chooses.

I'm sure in countries where the fully controlled digital currencies are introduced, some other form of black market currency that is genuinely free from government control will come into existence. Whether that will be better or worse, time will tell.