Incoming Foreign Currency Fund Transfers

General Information

You can receive payment in foreign currency on your account with First Investment Bank. Fibank maintains correspondent relations with over 600 banks around the world, facilitating the receipt of fund transfers ordered by the Bank from different parts of the world.

What you need to know?

1. It is necessary to specify to the ordering party the exact bank details for your account, including:

  • Full name of Beneficiary - Your names;
  • Address;
  • IBAN at First Investment Bank;
  • Bank: FIRST INVESTMENT BANK, Bulgaria, Sofia;

2. If you receive a transfer in foreign currency at the amount of or exceeding BGN 100 000 equivalent, you shall complete and submit statistical form as required by the Currency Law. 
3. The terms of execution are in accordance with the usual banking practice - the beneficiary's account is credited with a value date on the date of receipt of the funds on the account of Fibank or the date specified in the transfer notice, if the notice specifies a later date.

Regulatory Requirements

Under the provisions of the Currency Law and Ordinance № 27 of the Bulgarian National Bank for transfers received in foreign currency which BGN equivalent is equal to or exceeding BGN 100 000, statistical form shall be filled in a form approved by the Bulgarian National Bank. The statistical form should be submitted to the Bank within 30 days of notification of the receipt of the funds on the bank account. Upon failure to comply with this obligation within due time shall be applied Art. 19 of the Currency Law.