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Transfers in local currency

Transfers in local currency

The transfers in local currency are a fast and cost-effective way of executing noncash transactions within the territory of the country. International Asset Bank AD executes clients’ orders for transfers in BGN to all banks in Bulgaria and to both Bulgarian, as well as to foreign citizens.

  • Intrabank transfers – International Asset Bank AD operates a modern banking information system, enabling the settlements among clients of the Bank to be executed without dela at the moment of the transfer. Irrespective of whether you transfer funds to a recipient at the same or at another branch of the Bank, the transfer will be executed in a matter of seconds;
  • Interbank transfers through the BISERA system – the system is intended for executing transfers of amounts of up to BGN 100 000 and the recipient’s account will be credited on the same or on the next business day, depending on the time of delivery of the payment order;
  • Interbank transfers through RINGS (real-time gross settlement system) – the system enables faster execution of the ordered transfer and the amounts are received within 1 hour. In compliance with the legal requirements, all transfers over BGN 100 000 are executed through RINGS. Transfers below this threshold, can be executed via RINGS upon express request of client.

Intrabank transfers

The transfers are executed in real time for payment orders, submitted within the business day.

BISERA

  • In the case of payment orders submitted before 12:00 P.M. the transfers are executed within the same business day. 
  • In the case of payment orders submitted after 12:00 P.M. the transfers are executed on the following business day.

RINGS

In the case of payment orders submitted before 03.00 P.M. the transfers are executed within the same business day.

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