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    Change in the status of the United Kingdom, as of 01.01.2021

    03.11.2020
     

    Dear Customers,

    On 31 January 2020, the United Kingdom of Great Britain and Northern Ireland (the "United Kingdom") formally left the European Union and the European Economic Area and entered into the so-called transition period under the Agreement on the Withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community which will continue until 31 December 2020, 11 pm, GMT. During the said transition period Union law shall be applicable to and in the United Kingdom, which shall be temporarily part of the EU single market and customs union. From 01 January 2021, the United Kingdom shall be treated as a third country outside the EU, the EU single market and customs union and the European Economic Area and EU law shall not be applicable to and in the United Kingdom.

    In view of the upcoming changes which start from 1 January 2021, we would like to draw your attention to the changes that shall be made to the way foreign currency payments to the UK shall be processed and executed, as well as the way euro payments to/from the UK shall be charged.
    As of 01.01.2021 transfers into foreign currency from/to the United Kingdom will be treated as transfers outside the EEA.

    For more information on how the end of the transition period will affect the use of the services by Raiffeisenbank (Bulgaria) EAD clients, you can contact the employees at Raiffeisenbank offices and on the phone numbers of Contact centre of the bank:

    • 0700 10 000 (Vivacom) at the price of a city call
    • 17 21 (A1 and Telenor) with no increase of the fee

    Sincerely yours,
    Raiffeisenbank (Bulgaria) EAD

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