Bulgaria became a part of EU countries in 2007 which made it more accessible to other EU countries and to the world too. Sending money to Bulgaria is now very convenient. Almost all major online and offline money transfer services can transfer your money there. But different services will charge you differently and may deliver different amounts to the recipient. It is because of the different fees and exchange rates offered by these service providers. The speed of their delivery also differs. I took out three major companies who have been doing an excellent job of fund transfers from years and compared their results. I reviewed the services of TransferGo, Worldremit and MoneyGram and their results on sending money to Bulgaria. Here are my findings on this small exercise that will help you find the best option for your future needs.

Fund transfer with TransferGo

TransferGo is a rapidly growing company who specializes in providing cheap money transfer solutions. It was founded in 2012 and currently has its offices at Lithuania and London. They use the innovative P2P payment transfer method. Through their local account, they receive the money from the sender and deliver money to the recipient in their respective countries.

They charge a fixed transfer fee depending on the country you are sending money from. You can check the transfer fee applicable for your country at their website beforehand to get an idea. Along with that, they charge 0.6% to 1.5% currency conversion fee. This will depend upon the amount you are sending and the country you are sending money from. TransferGo ensures that the fund never gets affected due to fluctuations in currency. It usually takes them 1 business day to transfer funds. So in case of weekends and bank holidays, your funds will be delayed. Their services are very transparent and you can directly log in to their website to get the complete idea of your transaction charges and delivery time.

How to send money to Bulgaria

Fund transfer with Worldremit

Worldremit is one of the most popular fund transfer companies. It is completely online and you can transfer money anywhere from your computer, mobile or tablet. They send money to over 140 countries and are trusted for their services around the world. It was founded in 2010 and since then has always received great reviews from its customers. They offer fund delivery in the form of bank transfer, mobile airtime top up and cash pick up. But at Bulgaria, they only have bank transfer service available. They transfer money to almost all major banks in Bulgaria within 1-2 day. On their website, you can enter your details and can see how much you will have to pay for the transfer as well as their exchange rates.

Fund transfer with MoneyGram

One of the oldest and most trusted fund transfer company, MoneyGram is a global name in fund transfer sector. Along with their online transfer, they also offer cash pick services for the recipients to over 200 countries. Their online service is very fast and in some countries, it gets transferred in minutes. If you have an agent location nearby, you can also visit them there to make a transfer. However, payment deposits and pick up from an agent location is costlier and comes with a higher fee. Their website will give you complete information about sending money to Bulgaria and the convenient pickup and deposit locations. You can also check the difference in fees using their “Estimate fee” tab to check which method will cost you the least.


I went through all three company’s website and tried to send money to Bulgaria using their online options. I could clearly see and compare the similarities and differences in all three of them. Here are the observations below.

Amount sent Service Provider Fee Charged Exchange rate offered Real exchange rate at XE.com Money received Time Taken
EUR 1000 TransferGo EUR 0.99 1.93203 BGN 1.95583 BGN BGN 1930.12 1 business day
EUR 1000 Worldremit EUR 0.99 1.94 BGN 1.95583 BGN BGN 1937.29 1-2 days
EUR 1000 MoneyGram EUR 0.99 1.94 BGN 1.95583 BGN BGN 1934.35 1 day

To make the comparison clear, I chose to send the same amount of EUR 1000. The payment and receiving mode used in all the transactions is through a bank account. It is pretty clear that all three services charged the same fee for the transactions. However, the results were different in terms of money received. Although Worldremit and MoneyGram charged the same fee and had the same exchange rates their results are slightly different from each other. The reason could be that on their website they showed the exchange rates rounded up to two decimal points. While converting the money they must have used their accurate exchange rates. The results showed that Worldremit and MoneyGram are better options to send money to Bulgaria while TransferGo was also very close. This is what we get if we are sending money to Bulgaria. However, it is possible that you will get a different result when sending money to a different country or in different currency currency.

How to send money to Bulgaria

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