Tips for Exchanging Coins After the Euro Introduction

After the first day of the new year, payments will continue to be made in both leva and euros for another month. However, the new law gives traders the option, at their discretion, to refuse to accept more than fifty coins per payment. This decision raises a number of questions and challenges for consumers who need to find ways to deal with the accumulated small change.

The online platform "We, the Consumers" offers several practical tips for citizens.

One of them is to try to exchange some of the coins in local stores or pharmacies. As these establishments often need small change for change, they may be kind and helpful. This is one way to avoid the inconveniences associated with a large amount of coins.

Another option is to check if any of the nearby stores still have machines that convert coins into vouchers. However, before resorting to this option, it is important to study the conditions for shopping with these vouchers. We need to make sure that the conditions are acceptable to us, as vouchers can usually only be used in the specific store and within a certain period.

The Bulgarian National Bank (BNB) also offers a solution for exchanging coins. Citizens have the opportunity to exchange their coins for banknotes. If we have coins of 1 and 2 stotinki or of 5, 10, 20 and 50 stotinki, 1 lev and 2 leva with a total value of up to two hundred leva and divide them in advance by denomination, we will not be charged fees. This represents significant relief for consumers.

Otherwise, however, different fees apply. For example, if coins from 5 stotinki to 2 leva are worth more than two hundred leva, but are divided by denomination, we will owe a fee of 1.3% on the amount over two hundred leva, but not less than 1.00 lev. If we hand in unallocated coins, regardless of the amount, the fee is 1.4% of the entire amount, but not less than 2.00 leva. This shows the importance of pre-dividing the coins to avoid additional costs.