The Mass Payments Service is now available via Fibank's Virtual Bank Branch
The Mass Payments Service allows you to make payments from your corporate account to multiple recipients or multiple accounts of one and the same recipient with just one payment order.
Once you have registered for the Service, you will be able to use the mass payments option:
- To pay salaries to your employees*;
- To make payments to the National Social Security Institute and the National Revenue Agency;
- To make payments to public receivables administrators with regard to taxes, fines, fees etc.;
- To pay commissions, professional fees and other types of remuneration to associates who are not under labor contracts with your company;
- To pay suppliers;
- To make other types of credit transactions.
* If you have decided to pay by bank transfer your employees who do not have Fibank debit cards, you can use the Mass Debit Card Issuance Service. It is available upon signing an express agreement and a customized terms and conditions annex.
To sign a Mass Debit Card Issuance Agreement or to learn more about the Bank's terms and conditions, please talk to our Sales Division representatives.
Eligibility for the Mass Payments Service:
- Businesses, within the meaning of the Commerce Act, which are entered in the Register of Companies, including foreign entities with registered Company ID Number (BULSTAT Code);
- Other persons and entities wit registered BULSTAT codes.
|Transaction Type:||Only credit transactions - internal or to other banking institution within the Country;
|How to file Payment Orders for Mass Payments:||
|Systems Used for the Transactions:||
|Business Hours:||Orders for mass payments will be accepted until 5.00 PM on official business days as determined for the banking institutions in Bulgaria.
To be able to use the Mass Payments Service:
- You must have at least one current account set up at any of Fibank's branch offices;
- You must file a Mass Payment Service Application and sign an Agreement and a General Terms and Conditions Annex thereto;
- You must register the current account with Fibank that will be used for the service. The account must be set up in Bulgarian Leva and there must be no debit cards issued for it;
To register for the Mass Payments Service:
- Visit your Fibank Branch Office;
- Make an appointment and meet with one of Fibank's Sales Representatives in the convenience of your own office;
- Use Fibank's Virtual Branch Office.
Changing your registration:
If you wish to change the current account in your registration for the Mass Payments Service, you must file an Application for Changing the Current Account Registered for the Mass Payments Service:
- At one of Fibank's branch offices;
- Or with one of our Sales Representatives.
To order a Mass Payment, you have to file a Mass Payment Order accompanied with an additional file with instructions in accordance with the requirements of the Bank. You can do that using your own accounting software or using the software recommended by us below.
Mass Payment Orders will be filed:
- By submitting at your Fibank Branch Office a file containing instructions as to how the mass payment should be executed along with the mass payment order;
- At e-fibank.bg (Fibank's Virtual Branch Office), if you have registered for the service and have activated your active banking option.
We are offering free software and support to enable you to make mass payments from your corporate account.
Using these links, you can download three software programs that you can use as described below, along with instructions for their use:
1. To prepare the file containing the instructions on how to execute a mass payment for the benefit of your employees (salaries, advance payments, etc.), or to compile the data, necessary for the Bank to issue debit cards to your employees, you can use:
This software can be used to create files for setting up accounts or issuing debit cards or to prepare a file with instructions on how to execute a mass payment.
- Instructions for creating files to be used for setting up accounts/issuing debit cards and as instructions for executing mass payments 107.41 KB
2. To prepare a mass payment (that does not contain contributions to the National Budget), you can use:
This software will be helpful in preparing the instructions file for the execution of the mass payment if you are exporting the information regarding the execution of the mass payment directly from your accounting software, and the amounts being transferred are NOT budget contributions. Below you will find a specification of the file format that needs to be exported from the accounting software (*.dp*)