Compare the best ways to send money to Bulgaria

The exchange rate determines how much BGN the recipient will get when you transfer money to Bulgaria.

For example, today, the average exchange rate between US Dollar and Bulgarian Lev is 1.6835.

The rate constantly fluctuates depending on the destination currency and the market conditions, so timing your transfer can help you save a lot of money.

Sometimes, waiting a day or two can help you get more BGN.

If you do need to send BGN now, we suggest using Wise. Their rate for BGN transfers is the best (лв1.6738 per 1 USD).

The cheapest way to pay for your transfer to Bulgaria is via bank transfer with Currencyflow. It is 0.01% cheaper than the next best option.

The way you pay affects the cost, speed, and the amount of BGN you receive.

Here are your cheapest options:

*Based on a $7,000 transfer to Bulgaria.

Avoid using a bank transfer option when sending money to Bulgaria, as it’s the most expensive.

Credit card transfers to Bulgaria come with cash advance fees and higher interest rates on BGN.

When possible, avoid sending BGN over the SWIFT network. Despite its name, SWIFT transfers to Bulgaria are slower with steeper fees.

Some services have limits on how much you can transfer, both minimum and maximum thresholds.

Different services might offer better rates or lower fees for different transfer amounts.

For example, we recommend using Wise if you need to send large amounts of BGN abroad.

In general, the quicker you need BGN delivered, the more it will cost you in fees.

Transfer speed to Bulgaria depends on the BGN amount, the time you initiate the transfer, and your payment method.

Take, for instance, an urgent need to transfer $7,000 from the US to Bulgaria.

Overall, of 11 companies serving Bulgaria, Currencyflow is the fastest regardless of the deposit method right now.

For bank or debit card deposits, services like Currencyflow are great, offering near-instantaneous BGN transfers with $0 - $0 fees respectively and 0.26% markup.

If you urgently need to transfer money to Bulgaria, cash pickup will be the fastest, via Western Union or Ria Money.

Avoid SWIFT for BGN transfers as it's slower due to intermediary banks in Bulgaria.

Online

You can transfer money to Bulgaria with a money transfer provider. You can either choose to use a managed service like an FX broker, or an online-only company.

Wise is the overall best online money transfer company for BGN transfers right now.

App

Most money transfer services supporting Bulgaria transfers have an app, often, offering a better BGN rate. You can use our guide to the best money transfer apps to find the one that fits your needs.

In-person

Cash transfers to Bulgaria in person via Ria Money Transfers or Western Union are almost always instant, but require the recipient to visit the nearest agent to collect BGN.

Money orders

Another option is to send a money order using the postal service in your country. It is a less accepted method but often can be sent to harder-to-reach locations.

There are different ways to receive money in Bulgaria. You can make a direct bank deposit, send cash for pickup or home delivery, or use a mobile wallet.

If you want a direct transfer to your bank account, Wise offers the best service for bank deposits to Bulgaria.

And if you need cash right away, check if cash pickup is an option in Bulgaria.

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

Please also note that CashApp is not available in Bulgaria.

To receive money in Bulgaria, you will need:

• Valid forms of ID: this could be a National ID, passport, or driving license.

• Sender's information: the full name and address of the sender.

• Transfer details: the amount of BGN to be received.

• Transfer reference number: will be needed for cash pickup or home delivery.

When you're sending or receiving money in Bulgaria, you have to be ready to share some documents.

The exact documents you need might vary by the company you use. Usually, you will have to:

• Show a government ID like a passport or driver's license.

• Give your contact details such as phone number and email address.

You will also need the recipients' details in Bulgaria. Sometimes this may include an IBAN or a SWIFT code depending on your payment method.

If you're making a large transaction to Bulgaria, a provider may ask you for proof of address (e.g. a phone or utility bill) and your source of funds (e.g. a bank statement).

That’s why we suggest Wise in this case. They know how to handle large BGN transfers and will help you get things done fast.

There might be tax implications to consider when sending money to Bulgaria.

Some BGN transfers may need to be reported to tax authorities, especially for larger amounts.

When in doubt, please contact a tax professional in your country or in Bulgaria.