Wise, Revolut or Bulgarian Bank? Best Option for Your EOOD (2026)

The Question Every EOOD Owner Asks

You have just registered your Bulgarian EOOD — or you are about to. You know the combined tax rate is just 15% (10% corporate income tax + 5% dividend withholding tax). The company is ready. But which bank account should you actually use?

The traditional answer was simple: open a Bulgarian bank account, use it for everything. But in 2026, with Wise Business, Revolut Business, and other fintechs offering EUR SEPA accounts with lower fees and better user experience, the question has become more nuanced.

The short answer: fintech can replace a Bulgarian bank for day-to-day operations. There is no legal prohibition on running your EOOD entirely through Wise or Revolut. But there are practical reasons to keep a Bulgarian bank account as well — particularly for NRA tax payments and the initial company registration. This article breaks down exactly what goes where.

Comparison Table: Bulgarian Bank vs Wise vs Revolut vs Paysera

What MUST Be at a Bulgarian Bank

There is only one thing that strictly requires a traditional Bulgarian bank (or Paysera): the capital accumulation account (набирателна сметка).

The Capital Accumulation Account

Before your EOOD can be registered with the Trade Registry, you must open a temporary capital accumulation account, deposit the share capital (minimum EUR 1), and obtain a bank certificate confirming the deposit. This certificate is a mandatory attachment to your Trade Registry application. Without it, the Registry will reject your filing.

This account must be at:

• A licensed Bulgarian bank — DSK Bank, UniCredit Bulbank, Fibank, etc.
• Or Paysera — the only fintech that offers a набирателна сметка accepted by the Trade Registry

Wise and Revolut cannot provide this. They do not offer capital accumulation accounts and cannot issue the bank certificate required by the Trade Registry.

What CAN Be at Fintech (Everything Else)

Once your EOOD is registered, there is no legal prohibition on operating entirely through fintech. Here is what Wise and Revolut can handle:

• Receiving client payments. Invoice your clients with your Wise (BE IBAN) or Revolut (LT IBAN) account details. SEPA transfers arrive within one business day.
• Paying suppliers. Any EUR SEPA transfer to any SEPA IBAN works identically whether it originates from a Bulgarian bank or from Wise/Revolut.
• Paying salaries. There is no legal restriction on which account you use to pay employee salaries. The payment just needs to reach the employee's personal bank account. You can pay your own manager salary from Wise or Revolut.
• International transfers. This is where fintechs excel — multi-currency transfers, real exchange rates, and transfers outside SEPA at significantly lower costs than traditional Bulgarian banks.
• Expense management. Both Wise and Revolut offer business debit cards, categorized spending, and integration with accounting tools.

NRA Payments: The Matching Issue

This is the most important practical consideration when choosing between fintech and a Bulgarian bank for your EOOD. The National Revenue Agency (NRA) accepts SEPA transfers from any IBAN — there is no legal restriction. But the NRA's internal system was built for Bulgarian IBANs, and foreign IBANs create a matching problem.

How NRA Payment Matching Works

When you make a tax payment to the NRA (corporate tax, VAT, social security contributions), the payment needs to be matched to your company's tax file. With a Bulgarian IBAN (BG prefix), this matching happens automatically — the system recognizes the payer and allocates the payment instantly.

What Happens with a Foreign IBAN

When a payment arrives from a Belgian IBAN (Wise, BE prefix) or a Lithuanian IBAN (Revolut, LT prefix), the NRA system may not automatically match it to your company. The result:

• Your payment arrives but sits in an unallocated pool
• Your tax obligation appears unpaid in the NRA system, even though the money has been received
• Automatic penalties and interest may begin to accrue on the "unpaid" obligation
• You (or your accountant) may need to contact the NRA to manually request that the payment be allocated to your company's account
• Resolution can take days to weeks depending on the NRA office workload

Which Payments Should Go from the Bulgarian IBAN?

• Corporate income tax (advance payments and annual settlement)
• VAT (if VAT-registered)
• Social security contributions (Declaration Forms 1 and 6, due by the 25th of the following month)
• Personal income tax withholdings (on salaries, dividends)
• Any other payments to the national budget

Salaries: Any Account Works

There is no legal restriction on which bank account your EOOD uses to pay salaries. You can pay your own manager salary and any employee salaries from Wise Business, Revolut Business, or any other account. The payment simply needs to reach the recipient's personal bank account via SEPA transfer.

However, the social security contributions associated with those salaries should be paid from your Bulgarian bank account for the matching reasons described above. The salary itself can come from anywhere; the NRA contributions should come from a Bulgarian IBAN.

Our Recommendation: Use Both

After advising hundreds of EOOD owners on their banking setup, our standard recommendation is a dual-account approach:

The workflow is simple: receive money into your Wise or Revolut account, run your business from there, and periodically transfer the amounts needed for tax payments to your Bulgarian bank account. Your accountant tells you how much is due to the NRA each month — you transfer that amount and make the payment from the Bulgarian IBAN.

Wise Business: What You Get

Wise Business (formerly TransferWise) provides your Bulgarian EOOD with:

• Belgian IBAN (BE prefix, BIC: TRWIBEBB) — full EUR SEPA account
• Multi-currency accounts — hold and convert over 40 currencies at the real mid-market rate
• SEPA transfers — send and receive EUR transfers within the SEPA zone
• Business debit cards — for company expenses
• CRS/DAC reporting — Wise reports account information to Belgian tax authorities, which automatically exchange it with the Bulgarian NRA under EU reporting regulations

Best for: EOODs that receive payments from international clients in multiple currencies. Wise's multi-currency strength and transparent exchange rates make it particularly good for consulting, IT services, and e-commerce businesses with global revenue streams.

Revolut Business: What You Get

Revolut Business (operated by Revolut Bank UAB under Lithuanian banking license) provides:

• Lithuanian IBAN (LT prefix) — full EUR SEPA account
• Multi-currency accounts — hold and exchange over 25 currencies
• SEPA transfers — standard domestic EUR transfers across the SEPA zone
• Business cards and expense management — team cards, spending limits, categorization
• CRS/DAC reporting — Revolut Bank UAB reports to Lithuanian tax authorities, which exchange data with the Bulgarian NRA automatically
• Tax payments: Revolut has confirmed that tax payments from their accounts are supported

Best for: EOODs that want a comprehensive business banking platform with expense management, team card management, and an all-in-one financial dashboard. Revolut's app-first approach works well for digitally-native businesses.

Step-by-Step: The Optimal Setup

Here is exactly how to set up your EOOD's banking from scratch, combining a Bulgarian bank with fintech:

1. Open a capital accumulation account. Visit DSK Bank or UniCredit Bulbank (or use Paysera remotely) and open the набирателна сметка. Deposit the share capital. Obtain the bank certificate for the Trade Registry.
2. Register your EOOD. Submit the Trade Registry application with the bank certificate. Wait for UIC assignment (1-3 business days).
3. Convert to a regular business account. Once you have the UIC, the Bulgarian bank converts the accumulation account to a regular corporate account. Complete the KYC process (EUR 100-500 fee, approximately one week).
4. Open Wise Business or Revolut Business. While waiting for the Bulgarian bank KYC, apply for your fintech business account online. You will need the EOOD's UIC, Founding Act, and manager ID. Approval typically takes a few business days.
5. Set up NRA payment templates. Once the Bulgarian bank account is active, configure payment templates for your regular NRA obligations — corporate tax advances, social security contributions, and VAT (if applicable).
6. Direct client payments to fintech. Use your Wise or Revolut IBAN on your invoices. This becomes your primary receiving and operating account.
7. Set up monthly transfers. Each month, transfer the amount your accountant specifies from Wise/Revolut to your Bulgarian bank account, then make the NRA payments from the Bulgarian IBAN. This SEPA transfer takes one business day and costs little.

Frequently Asked Questions

Disclaimer: This article provides general guidance on banking options for Bulgarian EOODs based on current legislation and banking/fintech practices as of April 2026. Individual bank and fintech policies, fees, and features may change. This article does not constitute legal or financial advice. For personalized guidance, consult a qualified Bulgarian lawyer. Last updated: April 7, 2026.