RETAIL BANKING IN BULGARIA
The benefits that Bulgarian banks most frequently offer to officers of their corporate customers include using overdraft (a small short-term credit) on debit cards and launching consumer credits. The condition they put is payments on the working salaries to be made through the respective credit institution. This is a requirement you will face in Biochim, SG Expressbank, Bulbank and DSK Bank if you want to get a consumer credit. United Bulgarian Bank (UBB) made an interesting proposal to the officers of its corporate clients - it provides them with a credit business card Eurocard/MasterCard or Visa. The amount needed to guarantee receivables on it is insured by the employer. It is a great convenience to employees of this type of institutions who make business trips abroad quite often. There is no need for them to maintain a USD5,000 guarantee deposit.
Biochim made a curious offer too. It allows using card account overdraft of up to 90% of the BGL deposit. The deposit may be property of a third person provided he has agreed with this operation. The same bank also proposes to issue a debit business card which allows its holder to use company accounts. Each officer may be given a different limit. Another benefit to officers of corporate customers is payments of electricity, water supply and central heating bills through a phone call or an ATM. However, this product is available to everyone possessing a debit card and willing to be involved in the system. Phone settlement of these bills is now offered by two financial institutions - Bulgaria Invest and First Investment Bank.
For the time being most Bulgarian banks do not pay much attention to the officers of their corporate clients, however. The conclusion sounds a little strange, considering the statements of their managers who say that the banks they run are swinging towards retail banking.