Cheques

General Information

First Investment Bank offers you the following services, connected with cheques:

1. Issuance of Bank Cheques:

The bank issues personal bank cheques in the following base currencies: EUR and GBP. These cheques are payable through Fibank's correspondent accounts with first-class banks, such as: Unicredit Bank Austria for EUR and Lloyds Bank for GBP.

What do you need to do? 

Fill in and deposit an „Application for Bank Cheque Issuance" at any branch of the Bank and provide the necessary funds on your account.

2. Cheque Collection

First Investment Bank receives for collection different types of personalized cheques - personal, corporate, bank, post, cashier, etc., denominated in the base convertible currencies. For the purpose you will need to have a current account opened with Fibank.
The cheque is presented personally to the bank, and it is endorsed on the back (the endorsement represents a signature of the beneficiary - natural person and a signature and a stamp for a beneficiary - legal entity).
The cheque encashment is usually done within 30 - 40 calendar days after its presentation to the Bank.

What do you need to know?

The cheque payments are done after submission of additional documents in accordance with the effective currency legislation - refer to "Regulatory requirements".



Regulatory Requirements

In accordance with the provisions of the Currency Law, Ordinance No27 and Ordinance No28 by the Bulgarian National Bank and the other applicable regulations, First Investment bank requires the following documents:

For Issuance of Bank Cheques:

  • For amounts equal to or exceeding the equivalent of BGN 100 000 - a statistical form according to the sample sanctioned by the BNB. In case of inobservance of the above requirement within the term required, the provisions under art. 19 of the Currency Law shall apply.
  • In case of cheques with BGN equivalent equal or higher than BGN 30 000, documents evidencing the substance of the payment in compliance with Ordinance N28 of BNB and Declaration pursuant to Article 2, paragraph 1 of the above Ordinanceare required only when the beneficiary is from a third country (a State outside the European Economic Area).
  • For amounts equal to or exceeding the equivalent of BGN 30 000 - a funds origin declaration concerning the amount to be transferred.

For Cheque Collection:

  • For amounts equal to or exceeding the equivalent of BGN 100 000 - a statistical form according to the sample sanctioned by the BNB. In case of inobservance of the above requirement within the term required, the provisions under art. 19 of the Currency Law shall apply.

The bank may require from natural persons to ascertain presence or absence of domicile in the Republic of Bulgaria within the meaning of the Currency Law by completing a declaration according to the sample, sanctioned by the BNB, in order to execute cross-border payments or funds transfers.



Documents