FAQ

A term deposit is an account for storing (safe-keeping) funds. Depending on the terms of a deposit agreement between the bank and the client, the Bank pays interest on the deposit amount to the client.

A term deposit can be opened for a period of 24 or 36 months in EUR or USD currency. More information on the full product properties and terms can be found on the bank's website.

The term deposit can be opened in either euro (EUR) or US dollars (USD).

There is no minimum amount required to open a term deposit, yet in order to earn interest on the deposit, one must ensure a minimum balance in the deposit account of at least EUR 1,000 or USD 1,000. The minimum balance must be provided within 7 calendar days from the date of opening the deposit.

 If the funds in the term deposit are less than the required minimum, the Bank shall apply/impose an annual interest rate for default (non-fulfillment) of the contract terms – this rate can be found in Fibank's Interest Rate Bulletin.

Yes, the maximum amount to be deposited into a single term deposit account is EUR/USD 100,000. In regard to amounts exceeding this limit, the Bank will apply/impose an annual interest rate for default (non-fulfillment) of the contract terms – this rate can be found in Fibank's Interest Rate Bulletin.

The interest rate on the term deposit depends on the contract term and the currency of the deposit. One can find the interest rates for term deposit accounts in Fibank's Interest Rate Bulletin.

Interest on the term deposit is accrued daily and paid at the end of the deposit term – into the respective (servicing) current account.

Additional contributions to the term deposit are allowed within the first 7 calendar days after the account is opened. If additional funds are deposited after the 7th calendar day from opening the deposit account, those funds will accrue interest at the annual interest rate applicable in case of non-compliance with the terms of the agreement, according to the Price List in force at the time of application. Fees and commissions – as per the latest updated version of the Price List for Service Fees. Interest Rates

One can deposit funds into the term deposit by making a transfer from the respective (servicing) current account they have selected when opening the deposit.

Withdrawing funds from the term deposit prior to its maturity constitutes a breach of the deposit terms.

The account holder has the right to terminate the deposit early – at any time during its term – without any prior notice. In such cases, the Bank is not obligated to pay the account holder any interest accrued on the deposit from the date the deposit account has been opened until the transaction/order date. In case of a partial transaction with the funds of the term deposit before maturity, the deposit shall be automatically renewed under the conditions valid for the product at the date of renewal.

On the maturity date, the term deposit is automatically renewed for the same term under the conditions valid for the product on the renewal date.

The term deposit is renewed automatically for the same term, under the conditions valid at the time of renewal.

There are no fees for opening, maintaining, or closing a term deposit.

There are no fees for opening, maintaining, or closing the term deposit. No fee is charged for depositing or withdrawing funds from a term deposit.

When opening a term deposit, one must designate/assign a servicing current account.

Its functions are:

• To fund the term deposit – using this very current account;
• To receive the interest from the term deposit on the maturity date;
• To receive (the) funds from the term deposit in case of closure or partial withdrawal of the amounts.

Yes, the servicing current account can be in a currency different than the currency of the term deposit.

The Bulgarian Deposit Insurance Fund (BDIF) guarantees full coverage (payment back) of amounts held by one individual in one bank, regardless of the number and size of the deposits, up to BGN 196,000. This includes accrued interest up to the date of issuance of the act under Art. 20, para. 1 of the Bank Deposit Guarantee Act (BDGA). The deposit is guaranteed by the BDIF, established and operating in the Republic of Bulgaria under the conditions and limits provided in the BDGA.

Yes, the interest earned is subject to a 10% withholding tax. The tax is withheld upon interest payment. An exception is granted if the interest recipient is a tax resident of an EU/EEA member state – in this case, no tax is withheld, provided the person/client submits an official document proving these circumstances. The following documents must be submitted in order for one to receive the tax relief:

• Tax Residency Certificate issued by the tax authorities of the respective EU/EEA country, an original (sent by courier/postal service) or electronically;
• A declaration/statement by the person (template) certifying the type of income and the fact they are the actual beneficiary of the interest – an original hard copy sent by courier or electronically via tax@fibank.bg

The Tax Residency Certificate must relate to the year the income is received in and it should be submitted to the Bank no later than 30 days before the interest payment date – in order to be eligible for any tax relief.

The monthly fee for the Standard and Premium packages is due each month on the same calendar date the package agreement has been executed (signed) on. It is automatically debited by the Bank from the account linked to the package on the following day.

The Basic package has no monthly maintenance fee.

When selecting a Standard or Premium package, one must deposit the necessary funds into the package account on the same day – in order to cover the monthly fee. The first service (maintenance) fee will be collected automatically by the Bank the day after the package agreement is executed (signed).

ANSWER: Yes, one can request a physical debit card. It will be delivered by courier to their address of preference, with a fee charged according to Fibank’s Price list.

The Standard and Premium packages offer a discount on the courier delivery fee for one physical card, starting from the date the package has been opened.

Any services used beyond the ones included for free in one’s package shall be subject to charging fees according to Fibank’s Price list.

SEPA instant transfers are interbank transfers in EUR – executed 24/7, 365 days a year. The transfer is processed between a sender and a recipient within 10 seconds. This type of transfer is only possible between payment service providers members of the SEPA Instant Credit Transfer (SCT Inst.) scheme of the European Payments Council.

If a recipient's bank supports this type of transfer, one will be able to select SEPA instant as a payment option when making a transfer.

There is no fee for incoming EUR transfers from EEA countries. In cases of incoming transfers in other currencies, a fee may be applied. More details can be found in the Bank’s Price list.

The Fibank provides the possibility of transferring funds to any part of the world. The extensive network of 600+ correspondent banks Fibank maintains relationships with further facilitates the accurate and timely execution of your transfer orders.

• Cross-border transfers in foreign currency are executed upon submitting/presenting additional documents, in accordance with the requirements of the applicable foreign currency legislation.
• The execution time is the day following the order date (value date T+1). Urgent orders with execution on the same business day (value date T) are subject to additional fees – according to the Bank's Price list.
• The transfer currency may differ from the account currency the transfer has been ordered from. The Bank shall then perform currency conversion based on the applicable exchange rate at the time of the transfer.
• Fibank may execute transfers in USD, EUR, CHF, GBP, CAD, and other convertible currencies.

The limits have been listed below:

The Standard and Premium packages offer the opportunity for cashback upon reaching a certain transaction volume with the debit card linked to the package’s current account:

− For the Standard package – 0.20%, with a maximum of 5 EUR/USD/GBP per month, provided a minimum debit card payment turnover of 500 EUR/USD/GBP is reached during the active days of the package within a calendar month.

− For the Premium package – 0.40%, with a maximum of 10 EUR/USD/GBP per month, provided a minimum debit card payment turnover of 1,000 EUR/USD/GBP is reached during the active days of the package within a calendar month.

The payment turnover includes all card payments charged to the account servicing the package for the days the package was active for in the respective calendar month (reporting period). The turnover does not include fund transfer transactions (including ATM transfers), gambling websites, or any transactions where funds are transferred without being processed as a purchase of goods or services with a retailer.

If cashback is accrued, it is paid into the account serving (servicing) the package – by the 15th day of the month following the reporting period the cashback has been accrued in.

Possibility for a double cashback: If within a calendar month one has switched their package from Standard to Premium or vice versa, double cashback may be accrued for that month, provided the minimum turnover requirements are met for each package during the days it was active. By the 15th day of the month following the reporting period, cashback for both packages will be paid out, with a maximum cashback amount of 5 + 10 currency units.

In case the cashback condition is met for only one of the packages during the respective active days within a calendar month, then by the 15th of the month following the reporting period, the cashback amount for that package will be paid.

If the cashback conditions are not met for either package during their active days in the calendar month, no cashback will be paid.

Cashback cannot be paid if, as of the payout date, the current account associated with the debit card transactions is closed.

If the package service (maintenance) fee is not paid, the package becomes inactive, and all products and services one uses will be charged according to the Bank’s Price List.

If the package maintenance fee is not paid for more than one period, one will be charged for the products and services they use under the fees and commissions applicable as per the Bank’s Price List – effective on the date of application (claim).

One has the option to apply for the opening of a new package at any time.

Fibank offers two types of debit cards:

• Virtual  debit card – Visa Debit. It is issued instantly and can be used immediately.
• Plastic (physical) debit card – Visa Debit. It is delivered by courier to the holder’s address, and there is a delivery fee – depending on one’s monthly package.

There is no service (maintenance) fee for debit cards.

A virtual  debit card is a card without a physical (tangible) carrier. It allows contactless payments, online shopping, and ATM withdrawals with contactless functionality.

Yes, one can use a physical debit card for online payments.

Yes, one can use a virtual  debit card for online payments.

Yes, one can make contactless payments using a physical debit card.

One can change the PIN code through the My Fibank mobile application for both virtual  and physical debit cards. The bank provides access to the initially generated PIN code in each cardholder’s My Fibank profile – until it is changed by the holder.

The PIN code for a virtual  debit card is provided through the My Fibank app. One can further change the PIN code of the virtual  card through the My Fibank mobile application. The bank provides access to the initially generated PIN code in each cardholder’s My Fibank profile until the holder changes it.

The PIN code for a physical card is provided through the My Fibank app. For a physical card, one can change the PIN code through the My Fibank mobile application or at a Fibank ATM in Bulgaria. The bank provides access to the initially generated PIN code in each cardholder’s My Fibank profile until the holder changes it.

Yes, additional plastic (physical) cards may be issued. A fee shall be charged for the issuance of an additional physical card to an account, according to the Bank’s Price list.

The virtual debit card is issued within minutes.

Physical debit cards are issued and delivered by courier within 5-7 business days.

One may have up to 6 debit cards.

The withdrawal and payment limits for a debit card are as follows:

Courier delivery of a card shall be charged according to the Bank’s Price list and the package one is using.

Debit cards issued by Fibank offer the following benefits (to name a few):

• Fast and convenient payments and withdrawals from anywhere in the world;
• Secure online shopping with 3D protection and Click to Pay
• Immediate push notifications for each transaction – via the mobile app;
• Debit cards issued by Fibank can be digitized in Google Pay, Apple Pay, Garmin & Google Wallet and used at contactless POS and ATMs.

A Fibank debit card can be issued for a current account in one of the following currencies: EUR, USD, GBP.

Fibank debit cards are issued with a validity period of 5 years.

Please refer to the Bank’s Price list for detailed information about fees and commissions on debit cards.

An additional debit card is any card issued after the first one for the same current account. A client can have up to 6 debit cards.

Once a card expires, it will be automatically renewed after the 20th day of the month it expires in.

Yes, there is a renewal fee for debit cards. Please refer to the FiBank Price list on the renewal fees.

One can block their card through the mobile app and request a new card.

Yes, there is a re-issue fee for debit cards. Please refer to the Fibank Price list on the renewal fees.

If one loses their debit card, they must immediately notify the Bank by phone and block their card via the mobile app.

One then needs to block the card via the mobile app and request a new card.

One can track transactions and manage their account via the mobile app.

No, there is no fee for making payments with debit cards issued by Fibank. Depending on one’s monthly package, if the payment is in a currency different from one card’s currency, a conversion fee may apply. Please refer to Fibank’s Price list.

Visa Click to Pay is a secure online payment service – it eliminates the need of entering card details (number, expiry, and CVV code) during checkout at vendors participating in the Click-to-Pay program. When a Fibank Visa card is registered in the Click-to-Pay program, payments are made using the so called “masked data” generated through a Visa token. With vendors participating in the Visa Secure platform, additional customer authentication will be required – based on the settings in MyFibank.

There is no limit to the number of registered cards. One may register all their Fibank Visa cards, depending on their personal preferences.

No. The Visa Click to Pay service is completely free of charge.

When registering for the Visa Click to Pay service, one’s data is stored by the Visa card scheme.

3D Security enhances the safety of online card payments by providing additional security and control. When making payments online with vendors who participate in secure payment programs, one will see the Visa Secure and/or Mastercard Identity Check logos. Before completing the payment, one may be required to complete an additional authentication based on their selected method, such as:

• biometric verification             or

• entering their static and dynamic 3D passwords

Fibank debit cards may be digitized in Google Pay, Apple Pay, Garmin Pay & Google Wallet and used for contactless payments and ATM withdrawals that support this very contactless functionality.

After receiving the card from the courier, log in to the MyFibank app, go to the “Cards” menu, and tap the “Activate” button shown on the card. Then enter the last 8 digits of the card number.

In My Fibank one can open a current account in EUR, USD, or GBP.

Current accounts at Fibank are opened only together with a debit card.

There is no minimum amount required for one to open a current account with Fibank.

One can review the interest rates for current bank accounts in Fibank’s Interest Rates Bulletin, published at www.fibank.gr

Interest on a current account is accrued daily and paid at the end of each month – by being capitalized into the account.

The Bulgarian Deposit Insurance Fund (BDIF) guarantees full coverage (payment back) of amounts held by one individual in one bank, regardless of the number and size of the deposits, up to BGN 196,000. This includes accrued interest up to the date of issuance of the act under Art. 20, para. 1 of the Bank Deposit Guarantee Act (BDGA). The deposit is guaranteed by the BDIF, established and operating in the Republic of Bulgaria under the conditions and limits provided in the BDGA.

Yes, the interest earned is subject to a 10% withholding tax. The tax is withheld upon interest payment. An exception is granted if the interest recipient is a tax resident of an EU/EEA member state – in this case, no tax is withheld, provided the person/client submits an official document proving these circumstances. The following documents must be submitted in order for one to receive the tax relief:

• Tax Residency Certificate issued by the tax authorities of the respective EU/EEA country, an original (sent by courier/postal service) or electronically;
• A declaration/statement by the person (template) certifying the type of income and the fact they are the actual beneficiary of the interest – an original hard copy sent by courier or electronically – tax@fibank.bg.

The Tax Residency Certificate must relate to the year the income is received in and it should be submitted to the Bank no later than 30 days before the interest payment date – in order to be eligible for any tax relief.