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BISERA7-EUR is a payment system for servicing client transfers in EUR, based on the rules, practices and standards of the Single Euro Payments Area (SEPA), providing finality of settlement in the TARGET2-BNB settlement system. BISERA7-EUR processes domestic and cross-border transfer orders in euro from/to banks and bank branches, operating on the territory of the European Economic Area (EEA) of the amount up to EUR 50 000 for transfer orders between participants in the system and without limitation to the amount of transfer orders, executed through interconnections with other SEPA compatible clearing houses.

BISERA7-EUR accepts transfer orders 24 hours a day, 7 days a week.

Settlement of the payments in BISERA7-EUR is executed in the TARGET2 (Trans-European Automated Real-time Gross settlement Express Transfer) system at the value date. The settlement agent of BISERA7-EUR system is the respective central bank on settlement. To ensure accessibility of participants in BISERA7-EUR, BORICA provides connection of BISERA7-EUR with other SEPA compatible clearing houses through signing bilateral agreements. Such agreements have been signed with the German Deutsche Bundesbank, the Dutch-German clearing house Equens, and the Polish KIR.

Participants in BISERA7-EUR system may be:

  • The Bulgarian National Bank; 
  • National central banks (NCBs) of the European Economic Area (EEA) countries;
  • Banks with license, issued by the BNB, for performing banking activities; 
  • Bank branch from a third country with license, issued by the BNB, under the provision of article 17 of the Law on credit institutions;
  • Bank branch of a member state, performing activity in the Republic of Bulgaria under the provisions of articles 20 and 21 of the Law on credit institutions; 
  • Banks or bank branches of foreign banks settled on the territory of the EEA.

Documents related to BISERA7-EUR 

1. Schedule for operation of BISERA7-EUR

2. Rules of operation of BISERA7-EUR

Requirements for the term, conditions and format of the payment orders submitted by the payment services user to the participants in the




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