Bulgarians are cleaning out their piggy banks: what to do with lev coins before and after the introduction of the euro

Only two working days remain until the end of the year – December 29 and 30, in which people can arrange their finances before the transition to the euro. The Association of Banks in Bulgaria reminds that if we have available lev banknotes, it is reasonable to deposit them into our bank accounts, as on January 1, 2026, all lev balances will be automatically converted into euros at the fixed exchange rate, without fees and commissions for customers. For several months, most commercial banks have been accepting deposits of banknotes from their customers without additional fees, but this rule usually does not cover coins.

After the New Year, however, the rules for coins will change in favor of citizens. Both banks and post offices designated to exchange levs will be obliged to accept coins regardless of their amount, as well as regardless of whether they are pre-sorted or not. This means that even if people have large quantities of small change, they will be able to exchange them for euros within the free period provided.

In recent weeks and months, a number of stores have practically turned into points for collecting coins, as customers are trying to spend their small levs. More and more people come to the cashier with bags and jars full of change to get rid of them before the currency change and possible restrictions on payment with coins.

Kamen Avramov manages a small grocery store in Montana and admits that the accumulation of coins is already noticeable. His cash register currently holds about 1000 levs in low-denomination yellow coins. "People want to get rid of the change they have accumulated in savings banks, pockets, drawers – wherever they have left them over the years. And they are striving to do it before the New Year, because they hear that after that there will be restrictions on the number of coins that can be paid with," commented Kamen Avramov.

Boyan Nikolov is one of the clients who systematically chooses to pay the entire bill in coins instead of banknotes or a card. "I heard from acquaintances that some stores are already refusing to accept coins when they are in large quantities, and for that reason I prefer to use them now, while there are still no such strict restrictions," shares Boyan.

Currently, depositing coins in banks is usually associated with a commission, which is not to be underestimated for larger amounts. A check of the tariffs of various financial institutions shows that the processing of coins can cost the customer over 25 levs, especially for unsorted coins or for larger quantities. Only the Bulgarian National Bank accepts coins under significantly more favorable conditions – free of charge or against minimal payments, when it comes to large sums and specialized processing.

After the introduction of the euro, the general exchange rules will become significantly more favorable for citizens. "For the first six months, the exchange is free. This applies to both banknotes and coins. Despite the many concerns related to the coins, there is no basis for this. From January 1, the coins will be exchanged at the fixed exchange rate, without any commissions," explains James Yolovski, Secretary General of the Association of Banks in Bulgaria.

However, traders are concerned that after the New Year they will face practical difficulties in payments, as they will have to give change in euros, not in levs. "Here it is important to emphasize that if the seller temporarily does not have euros in cash, there is no problem to return the change in levs. The law provides for such an option, so as not to lead to the blocking of sales," Yolovski clarifies.

In order not to turn the stores permanently into coin exchange points and at the same time not to refuse payments with small change, the legislation introduces specific restrictions for the first months of 2026. In January, traders have the right to refuse to accept coins if the payment amount with them exceeds a nominal value of 50 levs, as this rule aims to limit the mass payment with bags of change at the cash desks.

Experts advise people to use the remaining days until the end of the year to deposit the free lev banknotes into their accounts and, if possible, to spend or sort the coins. From January 1, 2026, the lev and the euro will exist in parallel in circulation for a short period, but the fixed exchange rate of 1.95583 levs for 1 euro guarantees that the value of the savings will not change, regardless of whether they are in cash or in an account.

More details on the rules for the exchange of levs and coins, the deadlines and possible fees are published on the official portal for the euro in Bulgaria and on the websites of the Bulgarian National Bank and the Association of Banks in Bulgaria.