What is the process for retiring old-series BGN banknotes from circulation?

As a remittance business operating in Bulgaria or serving Bulgarian recipients, understanding the retirement process for old-series BGN banknotes is essential to ensure smooth, compliant, and trusted transactions. The Bulgarian National Bank (BNB) periodically retires outdated banknote series to enhance security, combat counterfeiting, and modernize currency design.

The retirement process follows a transparent, multi-phase timeline: first, the BNB announces the withdrawal date well in advance—typically with at least six months’ notice. Then, old-series notes remain legal tender during a grace period, allowing individuals and businesses to exchange them freely at commercial banks and BNB branches. After the deadline, they lose legal tender status but can still be exchanged indefinitely at the BNB headquarters in Sofia.

For remittance providers, this means verifying that partner banks and payout agents accept current-series notes only—and updating internal compliance checklists accordingly. Communicating these changes proactively to customers helps prevent rejected cash pickups and builds credibility. Monitoring BNB’s official announcements ensures your operations stay aligned with national monetary policy—reducing risk and reinforcing trust in every cross-border transfer.

 

 

About Panda Remit

Panda Remit is committed to providing global users with more convenient, safe, reliable, and affordable online cross-border remittance services。
International remittance services from more than 30 countries/regions around the world are now available: including Japan, Hong Kong, Europe, the United States, Australia, and other markets, and are recognized and trusted by millions of users around the world.
Visit Panda Remit Official Website or Download PandaRemit App, to learn more about remittance info.