International Bank Account Number (IBAN) functions instead of regular bank numbers in Bulgaria since yesterday.
One of the expected problems was the use of wrong IBAN numbers, Dnevnik newspaper reported. IBAN consists of 22 symbols, instead of the 10-digit codes used previously.
The introduction of IBAN did not affect the usage of bank cards and credit cards in the country. ATM machines also functioned properly.
Bank experts said they needed several more days to assess the situation properly and understand if IBAN affected in any manner financial transactions.
By January 2006 IBAN has been introduced in 42 countries. Bulgaria is the last country in the Balkan region to switch to IBAN instead of regular bank numbers.
Clients of Bulgarian banks could receive their new IBAN numbers by visiting offices of the respective bank or using the telephone hotlines some banks set up for the aim. Several websites offer bank number to IBAN conversion already.
