If you need to send money to Bulgaria you may soon discover that there are a number of options available.
However, once you start to dig around a bit you will find that there are some hidden costs involved in the process. As such, it pays to research your options in order to avoid unnecessary costs when you send you send money to Bulgaria.
Your local bank is a logical first port of call when you come to send money to Bulgaria, be it for pension payments, sending money to family or friends or perhaps to make payments on a property in Bulgaria.
A single phone call or visit to your local branch is usually sufficient to send money to Bulgarian banks such as UniCredit Bulbank or DSK Bank. However, this convenience can come with a high cost in foreign transfer fees and rates of exchange. If you plan on sending money to Bulgaria on a regular basis it might be wise to look elsewhere as these costs soon add up.
Money Sending Bureaus, seen on high streets around the world, are another option. Again, they offer convenience to their customers but they tend to be poorly regulated establishments. In addition to this, Money Sending Bureaus often charge high fees as high as ten to 15 per cent of the total transfer amount, significantly impacting on the cash you are sending.
Alternatively, you can turn to a currency exchange specialist, like RationalFX. RationalFX charge only low fees when you send money to Bulgaria and we also provide a very competitive rate of currency exchange on the Bulgarian lev, the exchange rate of which is fixed to the euro.
Why not open an online account with RationalFX today? You can check out the actual exchange rates on offer and compare these to your other options to find the best way for you to send money to Bulgaria.