The introduction of the euro raises a question many Bulgarians are already asking: when and where will we be able to exchange our levs, especially the ones we've stashed away at home? Nova TV’s "Euro: Questions and Answers" segment this week focused on that exact issue.

Financial advisors remind us of a basic principle - "white money for black days" should be kept in the currency in which we intend to use them. If the funds are set aside for emergencies like medical expenses or urgent purchases, it's best they remain in BGN for now. But what happens to those same levs once the euro comes into official use after January 1?

The answer is clear: these levs won’t lose their value. Whether kept in a wallet or a kitchen drawer, they’ll still be accepted for exchange. In the first six months of 2026, commercial banks will convert levs into euros free of charge. There’s no cap on the amount of coins or banknotes you can bring - though if you're planning to exchange more than BGN 30,000, a three-day advance notice is required. For those not interested in last-minute bank queues, converting funds now might be the smoother option. Some banks have already waived fees for lev deposits to customers ahead of the currency changeover.

In more remote areas where bank branches are absent, postal offices will also offer exchange services. Over 2,000 post offices will participate, and for the first half of the year, they too will not charge any fees. However, some limitations apply - daily exchanges will be capped at BGN 1,000 per person. Around 1,000 designated branches will accept up to BGN 10,000, but only after submitting a request 3 to 5 working days in advance. Amounts above this threshold will not be handled by the postal service.

The Bulgarian National Bank will provide the most generous terms: it will exchange any amount of levs, coins or notes, free of charge and with no time limit, at the official conversion rate. Besides its main office in Sofia, the BNB has regional branches in Plovdiv, Varna, Burgas, and Pleven - these offices will continue offering this service indefinitely.

After July 1, 2026, banks and post offices may begin charging a fee for lev-to-euro exchanges. They must, however, clearly display the applicable charges. From that point forward, cash availability could also affect whether a given institution processes your request.

It's only after the end of 2026 - one full year after Bulgaria adopts the euro - that financial institutions will be permitted to stop offering lev exchanges entirely.

One more note for anyone planning to dig out old coin jars in January 2026: in the final month during which BGN will still be accepted as legal tender, retailers can refuse to accept more than 50 coins in a single transaction. However, they may not refuse to accept any amount in banknotes. That said, restaurants and all businesses will already be displaying their prices and accepting payments in euros only.

From February 1 onward, levs will no longer be accepted in shops. There will be no limitations on the use of euro banknotes or coins. The transition will be complete - and Bulgaria will officially be operating in its new currency.