05.04.2023

PAYMENT OF SICK LEAVE AFTER WORKING IN ANOTHER COUNTRY

Cash benefit for temporary incapacity for work or as it is known - sick pay - entitles you to compensation for lost wage income when you have to take sick leave. To acquire this right you must have been insured for general sickness and maternity for at least 6 months. Insurance for this risk is mandatory if you are employed under an employment or civil contract. Your right to compensation does not depend on whether your contributions are paid or only due without actually being paid, but you must have been insured on at least the minimum wage. If you are self-employed, you must pay insurance.

There is an exception to the 6-month insurance obligation for you if you are under 18 years old. The insurance internship may be interrupted or continuous, with different employers.

In order to receive this benefit, you must have a sick certificate, which is issued by your personal doctor or a medical advisory committee.

If you are a self-insured person, to be entitled to this benefit you must have opted for general sickness and maternity cover.

It is considered as insurance experience and the time of insurance under the legislation of another country outside the EU, with which Bulgaria has concluded an international agreement for this.

The first 3 working days of sick leave are covered by the employer in the amount of 70% of the daily gross remuneration for the month during which the incapacity for work occurred. For the following days, the daily cash benefit for temporary incapacity is 80% or 90% of the average daily gross earnings or the average daily insurance income on which insurance contributions were paid in the last 18 months before the onset of the incapacity.

For example, if your doctor prescribed 5 days of home treatment, and your gross salary is BGN 1,000 per month, your daily salary for a month with 21 working days is BGN 47.60. For the first 3 working days of sick leave, you will receive BGN 33.30 per day from the employer, or a total of BGN 99.90. For the next 2 working days, the compensation is taken over by the National Insurance Institute, which must pay you BGN 76.20.

The daily cash benefit for temporary incapacity for work due to a general illness cannot exceed the average daily net remuneration for the period from which the benefit is calculated.

Payment of compensation is made only by bank transfer. According to European legislation, the amount cannot be reduced due to administrative or bank charges.

04.04.2023

THE AMOUNT OF SOCIAL BENEFITS WILL INCREASE FROM JUNE 1

From June 1, the amount of social benefits will be determined depending on the poverty line in the country and will not be tied to the guaranteed minimum income, as it is at the moment. The introduction of the new mechanism for social assistance will be carried out through the project prepared by the Ministry of Labor and Social Policy for changes to the Regulations for the Implementation of the Law on Social Assistance, which have been published for public discussion.

The new regulations will ensure that a greater number of those in need will be able to receive support from the state. The amount of benefits they receive will increase. It will be updated regularly and will be more responsive to their needs. This will improve the social protection that people from vulnerable groups receive from the state. Increasing the amount of social benefits and expanding the scope will contribute to reducing the risk of poverty and social exclusion.

The changes in the regulations will ensure the implementation of the changes in the Law on Social Assistance, which established the new model of social assistance. The amendments focus on the inclusion of assisted people in the labor market, giving priority to incentive measures and easing restrictions. The new regulations provide for the period for mandatory, continuous registration with the Directorate of Labor before submitting an application-declaration for social benefits to be reduced from 6 to 3 months. This will enable faster access to social assistance and reduce the risk of falling out of the system. It is envisaged that the time for community service by unemployed people receiving social benefits will be reduced from the current 14 days of 4 hours per day to 40 hours per month. In this way, it is possible to include them in various measures to obtain and increase their qualifications and experience, which is a factor for their faster inclusion in the labor market.

With the draft of the changes in the Regulations for the implementation of the Law on Social Assistance, new opportunities are provided for the support of risk groups that have not received support until now. It is planned to cover the initial needs of adults leaving a residential type of social service, to grant targeted assistance in the amount of the poverty line for the relevant year. The aid will be given for three months, granted only once and on the condition that the person has registered with the Labor Office Directorate.

The changes give the right, when an unemployed person or an unemployed family member receiving monthly social benefits starts work, that the benefits continue to be paid for a period of 3 months within 1 year, starting from the moment of concluding the employment contract. The restriction on granting monthly allowances to students in higher education institutions, as well as to students from private schools, is no longer applicable. It is planned not to require registration in the Labor Office Directorate for the granting of monthly allowances to students in higher schools in specialties for which only a regular form of education is provided.

The acceptance of the normative changes proposed by the Ministry of Labor and Social Policy will eliminate the negatives of the social assistance system related to the guaranteed minimum income. This will also guarantee the implementation of the recommendation of the European Commission regarding the scope, adequacy and regular updating of monthly social benefits.

04.04.2023

IN WHICH CASES DO YOU WORK ON HOLIDAYS?

The normal duration of working hours during the day is up to 8 hours - Art. 136, para. 1 and para. 3 of the Labor Code. According to Art. 142, para. 1 of the Labor Code, working time is calculated in working days - per day. In Art. 141 of the Labor Code provides that when the nature of the production process requires, work in the enterprise is organized in two or more shifts. In the case of daily counting of working hours and in the case of working in shifts, the duration of night working hours is less than that of daytime hours, the labor remuneration earned according to labor standards is increased by a factor equal to the ratio between the normal duration of daytime and nighttime hours working hours - art. 9, para. 1 of the Ordinance on the structure and organization of the salary.

In the provision of Art. 4a of the Ordinance on working hours, rests and leaves states that the Rules for the internal working order define the beginning and end of the working day, the order for alternation of shifts, breaks during work, the order for reporting working time, the time of mandatory presence in the enterprise when variable working hours are agreed, meal times for employees in productions with an uninterrupted work process and in enterprises in which work is carried out continuously, as well as other issues related to the distribution of working time and the organization of work in the enterprise.

Weekends are not included in the daily working time schedule. According to Art. 153, para. 4 of the Labor Code for overtime work on the two days of the weekly rest, when calculating the working time per day, the worker or employee has the right, in addition to increased pay for this work, and to a continuous rest in the following working week in the amount of not less than 24 hours. When working hours are calculated daily, the work done on a day off or on a public holiday is paid as overtime according to the order of Art. 262 and Art. 264 of the Labor Code. You should keep in mind that according to Art. 152 of the Labor Code, the worker or employee has the right to a continuous interday rest, which cannot be less than 12 hours. According to Art. 153, para. 1 of the LC, in the case of a five-day work week, the worker or employee has the right to a weekly rest in the amount of two consecutive days, one of which begins on Sunday. In these cases, the worker or employee shall be provided with at least 48 hours of uninterrupted weekly rest.

03.04.2023

THE DAILY ALLOWANCE FOR A BUSINESS TRIP TO BULGARIA IS DOUBLED

The minimum amount of daily allowance for a business trip to Bulgaria should be increased from BGN 20 to BGN 40. Changes in the Ordinance on business trips in the country, which were approved at today's government meeting, provide for changes.

The purpose of the amendments is to ensure an adequate amount of daily allowances to cover the cost of food on secondment against the backdrop of rising inflation. The last change in their value was on January 1, 2008, when it was set at BGN 20.

It is also possible for the daily allowance to be up to 200 percent of the statutory minimum, i.e. up to BGN 80, at the discretion of the seconding officer, another collective body for the management of the enterprise or when this is agreed in a collective labor agreement or in agreement with a trade union organization of civil servants.

The changes in the regulation also reduce the administrative burden for businesses. They will be able to issue the posting order electronically.

The mandatory requirement for its sealing, which creates significant difficulties and unnecessary administrative burden, is also removed.

Posting officers will be able to assess whether it is necessary to certify the presence of workers and employees at the site to which they are posted. The new regulations create conditions for more adequate reporting of travel expenses when using a private car by business travelers.

31.03.2023

IN APRIL 2023, AN ADAPTED WORKING ENVIRONMENT PROCEDURE IS ABOUT TO OPEN

Under the procedure of the Human Resources Development Program, with a budget of BGN 100 million, assistance will be provided to enterprises to deal with the new challenges related to the transition to a climate-neutral economy and changing work models. This requires rapid changes in the labor market and necessitates taking effective measures to improve access to employment in quality jobs and adapt to changes in the working environment.

Eligible applicants are companies registered under the Commercial Law. For micro, small and medium-sized enterprises, the grant is 100%, and for large enterprises - 80%.

In addition to the purchase of personal protective equipment and special clothing and the repair and equipment of recreational facilities, eligible activities also include:

1. Development and implementation of "green" models of work organization according to the specifics of specific workplaces in enterprises. Preparation of "green" maps for the organization of work processes at the specific workplaces. Training of persons from the target group aimed at implementing "green" models of work organization. (this is a mandatory activity).
2. Provision of prevention and prevention of "burnout" in the workplace and "effects of the Covid pandemic on mental health" - psychological support.
3. Provision of collective safety measures, including modernization and/or reconstruction, and/or securing of existing sites, technological processes, machines and equipment related to improving working conditions.
4. Provision of social benefits for workers, including repair and equipment of places for recreation, rehabilitation, sports, meals and rest in enterprises, etc.

The following financial parameters of an individual project proposal are foreseen:

Minimum amount of the grant - BGN 50,000

Maximum amount – BGN 391,166.

30.03.2023

PROJECT SUPPORTS ECONOMICALLY INACTIVE PERSONS IN THE LABOR MARKET

Project BG05SFPR002-1.001-0002 "Starting Work" - Component 1 "Activation", financed under the Program "Development of Human Resources" 2021-2027.

Summary

The aim of the project is to provide measures related to the labor market integration of inactive persons with an emphasis on disadvantaged persons.

The project is implemented until 31.12.2026.

The target group of the project are economically inactive persons between the ages of 16 and 65 who are not insured under Art. 4 and 4a and are not insurers under Art. 5 of the Social Security Code, are not registered as jobseekers under the Employment Promotion Act and are not in formal education or training. Up to 4 weeks before being included in the project, the individuals should meet the same requirements and conditions specified in the definition of "inactive". According to the age distinction of Priorities 1 and 3 of the Program "Development of Human Resources" 2021 - 2027, under Priority 1 eligible inactive persons who are over 29 years old, while under Priority 3 eligible inactive persons who are aged up to 29 years incl. The age of the participants is calculated from the date of birth and is determined from the date of inclusion in project activities.

The indicators of the project are 56 thousand inactive persons, of which 28 thousand will be activated and, upon leaving the operation, will have started looking for work.

The project activities are:

1. Application of innovative approaches and activities to identify, inform and motivate economically inactive persons for active behavior on the labor market - Within the activity, activators will be appointed who will establish contact with the inactive persons. The activity will be assisted by employees of the Employment Agency, included in the staff schedule. It is planned to update the existing methods for identifying and activating inactive persons.
2. Training of "activators" from the local communities, preparation for work with the target group - The purpose of this activity is to reach inactive persons through activators from the local communities, as well as through the employees of the Employment Agency, performing activities under the project. The trainings will be tailored to the specifics of the various groups of inactive persons - non-working, non-learning young people; persons from ethnic minorities; caregivers; older persons of working age (55 - 65 years), etc. After the training, supervision will take place, which will be piloted through the current project. Supervision is an innovative method for the Employment Agency to monitor results, motivate and set goals in the process of implementing activities
3. Organizing events, campaigns, including on social networks - The goal is to reach a larger number of the inactive population in the country, including the youth. The purpose of these events and campaigns is to present opportunities that inactive individuals can take advantage of to be active in their fulfillment. During the events and campaigns present, the Employment Agency will set aside places where individuals will have the opportunity to further familiarize themselves with the services provided by the Agency, the opportunities for inclusion in training and/or employment, as well as to register together with employees of Employment Agency.
4. Formation of mobile teams with the aim of informing, activating and establishing connections with inactive persons - The purpose of the activity is to ensure reaching inactive persons through mobile teams that will visit remote from the territorial divisions of the Employment Agency and hard-to-reach settlements and neighborhoods in order to reach the maximum number of inactive persons. This will allow persons who do not have the opportunity to go to the territorial branches of the Employment Agency, to be registered as unemployed and have a subsequent opportunity to benefit from the Agency's services.
5. Approving services for complex support - creation of centers/clubs for activation - Within the framework of the activity, it is planned to create centers/clubs for activation, which will be located outside the territorial structures of the Employment Agency, but will be administratively and information related to them. In the newly created centers/clubs, inactive persons will have the opportunity to familiarize themselves with the full range of services offered by the Employment Agency. It is also assumed that the employees in the centers/clubs motivate the persons for active behavior in the labor market by registering at the labor office and using services for integration into employment, information, counseling, group events, referral to vacant jobs, trainings, validation of professional skills and qualifications. It is planned to organize events and campaigns in the created centers and clubs with the aim of reaching a larger number of persons from the target group and with the aim of avoiding the institutional appearance of the services offered by the Employment Agency.
6. Conducting "Job Search Workshops" - Conducting Job Search Workshops, through which inactive persons activated by the project will be offered the opportunity to self-assess their personal qualities and improve their job search skills and successful presentation to employers. During the Job Search Workshop, individual profiling of inactive persons' capabilities will be carried out for the purpose of professional orientation and/or referral to suitable jobs, incl. on employment and/or training measures/programs. Under the project, individuals will be employed as moderator-studio, who will monitor, guide and support each participant individually and as a group.
7. Organization of job fairs - Within the framework of the activity, job fairs will be organized to promote the activity of the representatives of the target group. It will support the employment of inactive persons, facilitate their access to information about job vacancies and ensure direct contact and the possibility to negotiate with employers.
8. Referral to appropriate training measures, education/validation, employment tailored to the individual profile of the persons - The employment agencies of the Employment Agency will refer the persons from the target group to vacancies through subsidized employment or job positions on the primary market of work, towards validation, subsequent training for the acquisition of a professional qualification and/or for the acquisition of key competences.

29.03.2023

WHO CAN GO TO A SANATORIUM WITH MONEY FROM NATIONAL SOCIAL SECURITY INSTITUTE

From March 28 of this year, the implementation of the Prevention and Rehabilitation Program for 2023 began, contracts have been signed with 25 legal entities for a total of 52 establishments, executors of the program.

The program for one person lasts 10 days, and the cost of overnight stays and partial food assistance in the amount of BGN 8.00 for each day of the stay is covered by the funds of the State Social Insurance. Each person, at the expense of the State Social Insurance budget, has the right to use for only one disease up to four basic diagnostic and therapeutic procedures per day.

Insured persons are entitled to financial assistance for prevention and rehabilitation for general illness, maternity and/or occupational accident and occupational disease. For them, insurance contributions must have been paid or due for six consecutive calendar months preceding the month in which the rehabilitation takes place.

Persons who receive a personal disability pension are also entitled to financial assistance. The condition for them is that they have not reached the age for acquiring the right to a pension for insurance service and age, that the term of disability in their expert decision has not expired and that the attending physician has determined the need for rehabilitation during the period of use of the financial assistance.

You can find detailed information about the terms of use of the program, the performers of the activity, the necessary documents and the diseases for which prevention and rehabilitation are carried out in the section "Physical persons"/"Benefits and benefits under Bulgarian legislation"/"Cash benefits for prevention and rehabilitation" on the website of the National Social Security Institute.

29.03.2023

A COMPETITION MAY HAVE FOR DIFFERENT POSITIONS UNDER THE LABOR CODE

The Labor Code definitely provides for the possibility of appointment under an employment contract and through a competitive procedure. To put it another way - the competition is not only just under the Civil Servant Act.

The Labor Code states that a competition can be held for occupation of any position except for a position for which it is intended to be held on the basis of choice. In practice, this means that there can be a competition for any place. There is an exception only for electorals - mayors, governing bodies of universities, parties and more. It is necessary to point out that the positions to be held in a competition shall be determined by law, in an act of the Council of Ministers, by a minister or head of another agency or by the employer. The positions, defined as competition, are occupied only on the basis of a competition. Until the competition, the post can be undertaken by a fixed -term employment contract until it is occupied on the basis of a competition, the Labor Code also determines.

There is another exception - the rules for the Labor Code competition do not apply to competitions for occupation of academic positions.

According to the Labor Code, the competition notice must contain several mandatory elements. Among them are the name of the enterprise, the place and nature of the job and the requirements for the position, the manner of conducting the competition. In addition, the necessary documents, the place and the deadline for submission, which may not be less than 1 month, must be indicated. The characteristic of the competitive position is provided in advance to the candidates to get acquainted with it, the code also orders.

The rule is important that the consent of the employer with whom the applicant works is not required to participate in a competition. Moreover, the applicant is entitled to unpaid leave for the days of participation in the competition and up to 2 days for travel, when the competition is held in another settlement. This leave is recognized as work experience.

This comes to the issue of admission or non-admission to the competition. The applicants' admission is carried out by a committee appointed by the employer. The underlying candidates shall be reported in writing the refusal. Within 7 days of the communication, they may object to the employer, who has announced the competition, which, within 3 days of receipt of the objection, resolves the issue definitively. The admitted candidates, on the other hand, shall be communicated in writing the date, the time of the commencement and the place for conducting the competition.

The competition is conducted by a committee appointed by the employer. It includes appropriate specialists. The Labor Code determines that the competition committee must hold the competition in the announced manner. The committee must evaluate the professional training and other qualities of the candidates necessary for the position and ranked only the successful competitions. A protocol is drawn up for the competition. The result of the competition is notified to the persons involved in it within 3 days of its conduct.

The Labor Code orders that the employment relationship arises with the person ranked first from the day on which the result was received. The person concerned is obliged to go to work within 2 weeks of receipt of the notification. For good reasons, this period is up to 3 months. If the person does not go to work within these deadlines, then the employment relationship is considered to be non -incorporated. In this case, the employment relationship arises with the next participant in the competition, which is notified in writing.

29.03.2023

WHAT IS THE EFFECT OF EURO-FUNDING IN THE NORTH-WEST?

The Bulgarian Telegraph Agency organizes three local regional conferences dedicated to the future of the North-West region, in the three regional centers - Vidin, Montana and Vratsa. The participants in the discussions focused on the degree of convergence and what was achieved in the previous period under the operational programs, future challenges and changes in the current program period.

The Municipality of Vidin makes the most of the programs of the European Union (EU), said the Deputy Mayor of Vidin Desislava Todorova:

"The projects that we can distinguish as successfully completed are: "Repair and modernization of the educational infrastructure", "Rehabilitation and repair of the central pedestrian area", "Completion of the waste water treatment plant". Projects that we are currently implementing, under the Operational Program "Environment", our fellow citizens directly feel the benefits of the EU in their homes - over 4,000 households will benefit from the opportunity to replace their wood and coal appliances with environmentally friendly ones; under the "Regions in Growth" Operational Program, this year we will complete the construction of 37 social housing units, introduce energy efficiency measures in 13 blocks, introduce energy efficiency measures in the Vidin Municipality administrative building, and complete another part of the repair of the central pedestrian zone. We are preparing as hard as possible for the new program period. Let's take advantage of all the opportunities that the Recovery and Resilience Plan gives us, and we also look forward to the Regional Development Program announcing its terms. We are actively working on the Operational Program "Development of Human Resources". We are also preparing hard for the cross-border cooperation programs, where we have established very good partnerships with organizations from Romania, and there we already have a ready investment project for our Danube park. Citizens are already making the most of and seeing the results of our EU membership."

The mayor of Belogradchik Boris Nikolov is more skeptical of the effects of the absorption of European funds in the region:

"We have been in the EU for 15-16 years, we were expecting rapprochement - the desolate cohesion. Cohesion requires complete social rapprochement of our population, of our country with the developed European world. Does this happen? Yes, we are absorbing billions from Europe, but is this the most efficient use of this money? Hundreds of millions have been invested in the Vidin region, but does our population live better? Statistics are the most impartial and show migration, which means that our population is not satisfied with this cohesion. Yes, we also invested millions of BGN in the municipality of Belogradchik, we achieved many material results in all areas. There is no operating program that we do not use in the most effective way. Our biggest pride is the renovation - we don't have a state or municipal building that hasn't been renovated. We have also rehabilitated about 1000 apartments, now we are starting with the smaller residential buildings to use these opportunities as well. But I think that we use the funds from the European funds insufficiently effectively. The only thing that directly benefits our population is sanitation. Each household received a serious premium of BGN 500 per season. Hopefully the coefficient of useful action will be much higher, because in Bulgaria we are tired of strategies, plans and whatnot without having the effects we expect."

The largest amount of funds in the Vidin region during the past program period was attracted under the Operational Program "Environment" - nearly BGN 62 million. Operational program "Development of human resources" has reached 18,000 people in the Vidin region, which is every fourth person in the region. BGN 181 million from the cohesion policy is planned for the Vidin region, and for the new program period 50 percent of the financing from the European funds is planned for Northern Bulgaria. In terms of regional connectivity and mobility, it became clear that the new Vidin-Medkovets railway section is expected to be ready in 2027. This was assured by Albena Traikova, head of the Vidin-Sofia project, from the National Railway Infrastructure Company.

A local conference "Europe in Bulgaria: Common Future" organized by the Bulgarian Telegraph Agency was also held in Vratsa. In front of the forum participants, Vratsa Mayor Kalin Kamenov recalled the image of Northwest Bulgaria as the poorest region in Europe and emphasized that the goal of the local authorities is to change this trend:

"The general picture shows that for the last few years, in the last program period, we have implemented 81 projects worth nearly BGN 270 million in Vratsa. The effect of this is several key, important, general projects that actually change the picture from a negative to a positive trend in terms of population, employment and unemployment. The very fact that currently unemployment in Vratsa, even in the winter period, is within about 3%, shows an extremely good trend in terms of employment. The second positive trend is in terms of population growth. The latest data from the National Statistical Institute show an increase of 12,000 inhabitants over the last 7 years. These are the years when the key big projects are implemented. The third trend is that for four years in a row Vratsa has not exceeded the levels of fine dust particles. Within the framework of the new program period, we are also preparing a new large project for the replacement of the heating installations, so that there are no more views of houses from which smoke from coal or wood comes out and to further improve the condition of the atmospheric air in Vratsa. For the new program period, we have prepared projects for over 130 million BGN. The overall goal is for our city to be green, clean and economically developed. We have pledged funds for the creation of new industrial zones, despite the fact that in Vratsa there is active work on new factories that are already operating. Even today we signed a contract for another one, which is starting to be built in Vratsa. I am convinced that the municipality of Vratsa will be an attractive center for work for many residents of the region. There are already many people from neighboring areas who travel and work in Vratsa. With the future projects that we are starting in the new program period, we will be able to show the citizens that the projects are not done simply to realize funds, but to have an effect for the citizens."

The problems we encounter when applying for projects are problems of small municipalities, said Violeta Nikiforova, chief legal advisor of the Municipality of Mizia. According to her, the main problem is the lack of funds for design, which small municipalities cannot allocate:

"Since there is no stability in the country at the moment, we are not clear what the right directions will be, what we can orient ourselves towards as a small municipality, for which the projects that will be applied for are worthwhile and for which funds are not spent without to have clarity. The lack of government, of clarity regarding the future procedures that will be opened creates obstacles for small municipalities like Mizia, because we do not have funds in the budget to set aside for design."

The Vratsa region, as part of the North-West planning region, is in first place in terms of the total value of the implemented projects during the past program period from 2014 until now, which amounts to over BGN 562 million.

Conference "Europe in Bulgaria: Common Future", organized by BTA, also took place at the Youth Center in Montana. "Our administration implements projects in many areas and people see the results," Tihomir Antonov, Deputy Mayor of Montana Municipality, told the participants in the discussion.

"Montana currently manages projects worth about BGN 13 million, which are divided into several operational programs. The largest number of projects are under the Operational Program "Development of Human Resources". The next largest program is "Regional Development". For the last 8 years, the municipality has implemented four large projects in this area, which have a total value of about BGN 19.2 million. The largest program as a financial resource is the environmental protection program. There, the Municipality is currently working on two large projects, which will last until 2024. In parallel, the Municipality is very active in cross-border cooperation programs. What do we envision doing in the next 3 to 5 years? Given that the new EU programs are not yet open for Bulgaria, and the Recovery and Resillence Plan is partially open, we are currently applying for the rehabilitation of the Youth Home building, with an approximate value of about BGN 2 million, and we will apply for renovation of the "Mladost" hall, which is the largest sports hall in Montana, also worth about BGN 2 million. The implementation of a project to improve street lighting in the city for about BGN 1 million is pending. We expect the Bulgaria-Serbia and Bulgaria-Romania cross-border cooperation programs to be opened very soon, where we have negotiations with our partners regarding projects in the field of disasters and accidents, culture, renewable energy sources, biodiversity, etc."

Over 340 million BGN euro funds were attracted in the Montana region during the past program period.

The Northwest is performing well under the Recovery and Resillence Plan – 58 projects for 18 million BGN have already been approved, Vratsa is the champion, stated the Minister of Innovation and Growth Alexander Pulev at a forum in the city. A measure for the development of industrial zones and parks in Bulgaria is expected to be opened in April. The minimum grant amount for a project is BGN 3 million, and the maximum is BGN 40 million.

28.03.2023

NEW SERVICE INSTEAD OF BANK TRANSFERS: TRANSFERS TO CARDS

Sending money to bank cards is now also available for Bulgarians. The service is new to our market – it was launched earlier this year and is about to gain a lot of popularity, analysts say.

Transfers to cards of individuals are significantly different from alternative ways of sending money - bank and p2p transfers for example. They are defined as the next stage in the evolution of everyday payments that we have witnessed in recent years.

Transferring funds between users is becoming faster and easier. It no longer matters whether the sender and receiver of the transfer are customers of the same bank or mobile application. It doesn't even matter if the two are from the same country. There are only two conditions for a transfer to a card: the recipient must have a Visa payment card issued in the European Economic Area, and the sender must enter its number in the iCard digital wallet.

Most often, users choose this type of payment when they want the transfer to arrive quickly - in seconds. Another advantage is that the transfer can be sent at any time of the day, every day, from anywhere in the world, i.e. there are no restrictions related to the working hours of the banks. The availability of the iCard service for the entire European Economic Area, and not only for Bulgaria, is undoubtedly convenient.

Instant transfers to a card are performed after a few taps on the phone screen. They are preferred when splitting bills in restaurants, paying off debts (including credit cards), sending transfers to relatives and friends, etc.

Money transfer to any Visa debit, credit or prepaid card in Europe is possible thanks to the cooperation between iCard and Visa.