UBB extends free BGN deposits into accounts until the end of September

United Bulgarian Bank (UBB) has announced an important decision for its customers: it is extending the deadline for depositing levs into accounts without fees until the end of September this year. Although banks have had the right to charge fees for lev deposits since the beginning of July, UBB has chosen to keep the service free of charge to assist citizens who still hold lev cash.

The scale of the transition to the euro

The bank's data shows an active exchange process since the beginning of the year. In the period from January 5 to June 22, over 564,000 customers visited UBB branches. The total amount deposited or exchanged for the first five months reached an impressive 2.3 billion levs.

For the month of January alone, the levs received amounted to 1.5 billion levs, which underscores the role of the banking network as a key factor for a smooth transition to the new currency.

Key facts and statistics:

• Activity: After the peak in January and February, the volume of deposited levs has been steadily decreasing, which indicates that citizens and businesses have taken timely action.
• Digitalization: 245 ATMs with deposit functions were configured for lev deposits, with over 406 million levs deposited through this channel.
• Coins: By the end of May, over 33 million levs in the form of coins had been brought into the branches.

What customers should know?

According to the Bulgarian National Bank, as of the end of June, 94% of levs had already been withdrawn from circulation. While UBB and other commercial banks offer their own terms for extending free services, the Bulgarian National Bank continues to exchange levs into euros indefinitely and without fees.

We recommend that customers watch for further announcements from their servicing bank, as each financial institution applies an individual approach to the deadlines for free exchange and cash deposits.