Ana Knežević, president of the Consumer Protection Association in Zagreb, shared lessons from Croatia’s adoption of the euro in 2023, highlighting issues with change and price rounding that could guide Bulgarian consumers and merchants.

Knežević recalled that shortly after midnight on the first day of the euro, she received calls about taxi drivers unable to provide change in euros. In Croatia, the first two weeks allowed payments in both the old currency, the kuna, and euros, with merchants required to return change in euros. In Bulgaria, this dual circulation period will last one month, and if merchants cannot provide euro change, they are permitted to return it in leva.

Experts and banks advise having cash on hand during the switch to avoid temporary disruptions in electronic payments. Individual banks have communicated timelines for system reconfigurations, which, according to Knežević, were a challenge in Croatia. Many merchants were unprepared and returned kuna as change despite the requirement to use euros, frustrating customers.

Merchants also tended to avoid accepting larger banknotes, such as €200 and €500, even though they remain legal tender. The European Central Bank ceased production of €500 notes in 2016, and the Europa series does not include them.

Consumers are advised not to exchange large sums of cash before the New Year, as deposits will automatically convert to euros and cashless payments will switch over on January 1. ATMs will dispense euros, and Bulgarian leva can be exchanged at banks and select post offices free of charge for six months, with the Bulgarian National Bank allowing indefinite exchanges.

Knežević also warned about price adjustments. In Croatia, a coffee costing 10 kuna (around €1.3) on December 31, 2022, was being sold for €2–2.50 on January 1. While there was no precise information on how widespread such increases were, it highlighted the importance of vigilance during the first days of euro adoption.

Croatia’s experience shows that while inflation remained moderate - 0.3% monthly from December 2022 to January 2023 - consumers need to pay attention to rounding, smaller banknotes, and merchants’ readiness to ensure a smooth transition.