Dear valued customers,

With the upcoming annual closing on 30.12.2022, we would like to inform you about the changes in the cut-off times for submitting and processing local and foreign currency payments.

Submitting and processing local and foreign currency payments

Local currency payments

• Cut-off time for submitting payment orders on paper for execution through BISERA and RINGS, value date 30.12.2022 – 11:00 AM
• Cut-off time for electronically ordered payments for execution through BISERA, value date 30.12.2022 – 13:30 PM
• Cut-off time for electronically ordered payments for execution through RINGS, value date 30.12.2022 – 14:30 PM
• Intrabank payment orders on paper need to be submitted until 11:00 AM for execution on the same working day
• Electronically ordered intrabank payments for execution on the same working day need to be received until 18:30 PM

Foreign currency payments

• Spot value date 30.12.2022 shall be applied to payments, submitted on 23.12.2022
• Spot value date 03.01.2023 shall be applied to payments, submitted on 29.12.2022
  • For payments in JPY - spot value 04.01.2023
• Spot value date 04.01.2023 shall be applied to payments, submitted on 30.12.2022

Cut-off time on 30.12.2022 for submitting foreign currency payment orders:

• On paper –12:00 PM
• For receiving electronic ones – 12:30 PM

Electronically ordered payments through BISERA and RINGS submitted for execution after the above indicated cut-off times, will be executed on 03.01.2023.

During the holidays 01.01.2023(Sunday),02.01.2023 (Monday),only electronically ordered intrabank transfers in BGN will be processed in real time (with and without currency conversion for a currency pair EUR/BGN) with value date 03.01.2023.

Season’s Greetings,
KBC Bank Bulgaria EAD