How to send money to Bulgaria from India with the best INR-BGN rate

The exchange rate determines the price you’ll pay for Bulgarian Lev when sending Indian Rupee to Bulgaria.

The rate between the Indian Rupee and Bulgarian Lev is currently 0.0178.

The total cost of money transfers from India to Bulgaria is a combination of fees and exchange rates. Get the best of both, and you will be getting a good deal.

• The Mid-Market and Exchange Rates: The mid-market rate for INR-BGN is currently 0.0178 BGN per Indian Rupee. Providers offering services closer to this rate will ensure more Bulgarian Lev for your Indian Rupees.

• Fees: Transfer fees are charged alongside a transfer. The company offering the lowest fee is Wise, charging 707.32 INR per transfer. In all cases, we recommend searching for your exact send amount as fees may change.

• Amount Received: Money transfer companies will show you the amount eventually received in Bulgarian Lev. Simply, the higher the amount received in India, the lower the cost of sending from Bulgaria.

Sometimes, waiting a day or two can help you get more BGN for the same amount of Indian Rupee. Using a forward contract that also allows you to lock in an agreed exchange rate between India and Bulgaria.

Sending money via a bank transfer is the recommended option for sending money from India to Bulgaria.

Here are all the ways to send money from India to Bulgaria:

Bank transfers

Paying via a bank transfer is often the better option for sending money from India to Bulgaria.

By using a money transfer company such as Wise for transfers from India to Bulgaria, you can send money and while benefit from lower fees and more favorable exchange rates than you would get with a traditional bank. 


Debit and prepaid cards

Sending money from India to Bulgaria with a debit or a prepaid card is easy with Western Union Agent.


Western Union Agent is a one of the better options in the market for international debit card transfers from India to Bulgaria.

Credit cards

Not many money transfer companies offer direct credit card deposits, because it is more expensive for everyone (especially with high cash advance fees).

We recommend using a bank transfer or a debit card transfer if you can; otherwise, make a quick comparison to find the latest deal.

Some services between India and Bulgaria have minimum or maximum thresholds on how much you can transfer. This is applies when receiving money in Bulgaria as well.

Companies will offer different rates and fees for different transfer amounts. For regular transfers to Bulgaria, use Wise. The combination of rates and fees when sending from India to Bulgaria is the most competitive, even at larger amounts.

Also, always check with the recipient and understand any declarations needed on large amounts of money leaving India, or entering Bulgaria. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive Bulgarian Lev in Bulgaria. This includes a direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all providers serving transfers from India to Bulgaria will offer every method for incoming Bulgarian Lev, so it’s best to check ahead of time.

One of the more common ways to transfer from India into Bulgarian Lev is directly into a bank account. Wise is the best company for bank transfers between India and Bulgaria.

And if you need cash right away, check if cash pickup is an option for transfers between India 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 Wise.

When signing up to and sending Indian Rupee to Bulgaria, through a money transfer company, you will have to verify your ID.

The precise documents you need will vary and in some cases you will need more than one.

For the most part however, in India this will be a government issued ID such as a passport or driver's license. In Bulgaria it will be similar, although this should only be needed if you are opening a new account in Bulgaria, or collecting in cash. Sending to an existing bank account in Bulgaria shouldn’t require any additional ID checks.

Large transactions between India and Bulgaria, are subject to additional checks. A provider may ask you for proof of address or may want to carry out a proof of funds check.

One of the reasons Wise has scored so highly for transfers to Bulgaria is their easy sign up process in India.

When sending large amounts of money between India and Bulgaria there will potentially be a tax declaration to consider.

Some transfers into Bulgarian Lev may need to be reported to tax authorities in Bulgaria, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances will change in Bulgaria based on age, income and a few other elements. When in doubt, please contact a tax professional in India or Bulgaria to discuss your personal circumstances.