How to send money to Bulgaria from UK with the best GBP-BGN rate

The exchange rate is the price you will pay when buying Bulgarian Lev in the United Kingdom. A better exchange rate means you send more Bulgarian Levs to Bulgaria.

Currently, the mid-market rate between the Pound Sterling and Bulgarian Lev is 2.2317.

Ensuring a strong combination of fees and exchange rates ensures the best deal on money transfers from the United Kingdom to Bulgaria.

• The Mid-Market and Exchange Rates: Finding a provider as close to mid-market rate as possible will ensure more Bulgarian Lev for your Pound Sterling. The current GBP-BGN mid-market rate is 2.2317 BGN per Pound Sterling.

• Fees: Money transfer fees are charged on top the exchange rate and can be set, or a percentage of the total amount of Pound Sterling you’re sending to Bulgaria. MoneyGram currently has the lowest fees for transfers into BGN of just 2.49 GBP. We always recommend searching for your exact send amount for an exact fee.

• Amount Received: The amount received in Bulgarian Lev is the biggest indicator of the total cost of sending money to Bulgaria from the United Kingdom. The bigger the amount received in Bulgaria, the lower the overall cost of sending from the United Kingdom.

A better option is to use a forward contract. This allows you to lock in an agreed exchange rate for transfers between the United Kingdom and Bulgaria for a set amount of time, this can be up to two years in some cases.

Sending through a money transfer company via a bank transfer will most often be the way to get the best price when sending money from the United Kingdom to Bulgaria.

Here are all the ways to send money from United Kingdom to Bulgaria:

Bank transfers

Bank transfers are often the better option for money transfers from the United Kingdom to Bulgaria.

Sending money via a bank transfer with a company such as Currencyflow for transfers from the United Kingdom to Bulgaria allows you to benefit from lower fees and more favorable exchange rates than you would get with a traditional bank. 


Debit and prepaid cards

Sending money from the United Kingdom to Bulgaria with a prepaid or a debit card is very simple with MoneyGram.


MoneyGram is a leader in card payments for transfers from the United Kingdom to Bulgaria, competing among a total of 8 active money transfer companies on this route.

Credit cards

We recommend avoiding credit card deposits as it usually means taking a cash advance and using it for the deposit. Instead, use a bank transfer or a debit card deposit to save on fees.

If you have to, we recommend running a comparison to find the best deal for your transfer.

Money transfer companies offering services between the United Kingdom and Bulgaria have minimum or maximum thresholds on how much you can send or receive. These can be daily, weekly or monthly.

In particular, rates and fees for sending different amounts of Pound Sterling could change. We always recommend comparing GBP-BGN rates for your specific transfer amount. Then, with transfers to Bulgaria, shopping around each time can make a huge difference - as some providers offer introductory rates.

If you’re worried about transfer limits, for sending large amounts of GBP to Bulgaria, we’d recommend TorFx.

There are different options for receiving Bulgarian Lev in Bulgaria. The most popular are direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account. Not all providers offering transfers from the United Kingdom to Bulgaria will offer every method for incoming Bulgarian Lev, so it’s best to check ahead of time.

Sending directly to a bank account is one of the most common ways to send money from the United Kingdom into Bulgaria. For most part, this is because it means the recipient has to do very little. TorFx is the best company for bank transfers between United Kingdom and Bulgaria.

And if you need cash right away, check if cash pickup is an option for transfers between the United Kingdom and Bulgaria.

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like MoneyGram.

You will need to verify your ID at the sign up stage when sending from the United Kingdom to Bulgaria through a money transfer company.

Documents needed will vary and in some cases you might need a couple of different forms of ID.

ID can be verified in the United Kingdom through a government issued ID such as a passport or driver's license. If the recipient needs ID to collect money in Bulgaria, both of these will also likely be accepted. Depending on the company you are using and where the money is going in Bulgaria, it’s always best to check ahead just in case.

Larger transactions between the United Kingdom and Bulgaria are likely to be subject to additional checks such as proof of funds for anti-money laundering purposes. This could slow down the process of sending money if you’re not prepared for them.

One of the reasons TorFx scored so highly for large and regular transfers to Bulgaria, was their easy sign up process in the United Kingdom.

When sending money between the United Kingdom and Bulgaria there will be tax declarations to consider.

Some transfers into Bulgarian Lev may need to be reported to tax authorities in Bulgaria. This is of particular note where inheritance or property purchases are involved.

Personal allowances and tax limits will change in Bulgaria based on age, income and personal circumstance. When in doubt, please contact a tax professional in the United Kingdom or Bulgaria to discuss your individual needs. This will ensure you are not missing any specific tax obligations associated with your transfer.