1. General questions about the change
1.1. Who will be the new payment services provider and when does the change take effect?
The new provider is myPOS Ltd., Ireland – an electronic money institution licensed and regulated by the Central Bank of Ireland, one of the most established institutions in the European Union.
As of 1 January 2026, iCard AD will be fully replaced by myPOS Ltd. This change does not affect how you use the services – everything will continue to work as before, but under a more secure and stable regulatory framework.
1.2. Why is this change happening?
The purpose of this change is to bring all myPOS European customers under one licensed institution – myPOS Ltd. This simplifies access to services and ensures unified supervision across the EU.
In other words, this is a step forward in the development of the myPOS Service, placing all customers in a more stable, modern, and secure regulatory environment.
1.3. Will there be any service interruption during the change?
No. The transition will be smooth and without interruption.
1.4. Do I need to accept a new agreement?
No – the changes take effect automatically on 1 December 2025, two months after we notified you about the upcoming migration. However, we recommend that you accept the new agreement with myPOS Ltd. through your account as soon as possible.
New customers who joined the service on or after 1 October 2025 do not need to take any action, as they have already accepted the myPOS Ltd. agreement alongside the iCard agreement during registration.
iCard AD services will remain active until 31 December 2025, after which they will be discontinued for all customers.
1.5. Is it allowed to use an account with a foreign financial institution within the EU?
Yes, there are no restrictions in Bulgarian legislation (including tax law) that prohibit Bulgarian individuals or legal entities from using payment accounts opened with licensed foreign financial institutions within the European Union.
Such accounts are treated by public authorities in the same way as domestic ones, and any restrictions would contradict the principles of free movement of capital and services guaranteed by EU law.
In other words, this change allows you to use a European account in a more mature and secure regulatory jurisdiction, without affecting your tax or legal status.
1.6. Are my funds safe after the migration to myPOS Ltd.?
There is absolutely no reason for concern regarding the safety of your funds.
The mechanism for safeguarding client funds remains unchanged – the same one applied by iCard AD today.
As before, myPOS Ltd. is required under the European Payment Services Directive (PSD2, Article 10) to keep 100% of client funds separate from its own, in so-called “safeguarding accounts” held with licensed European banks.
These funds cannot be used for other purposes and are protected even in the event of the provider’s insolvency.
After the migration, your funds will be held with the second-largest bank in Europe, with a high credit rating (A+), providing an additional layer of security compared to the current framework.
2. Migration, accounts, and cards
2.1. Will I receive a new IBAN and what will be the account currency?
Yes. You will receive a new Irish IBAN (IE) issued by myPOS Ltd.
The main currency will be euro (EUR). If you have accounts in other currencies (except USD and JPY), they will also be migrated to myPOS Ltd.
2.2. What should I do after receiving my new IBAN?
Update all documents and templates where your old IBAN appears – such as invoices, contracts, offers, and other accounting or business documents.
Also, inform your partners and clients about the change to prevent any payment confusion.
2.3. Will I receive a new card?
Yes. You will receive a new myPOS Business Debit Mastercard, linked to your new primary EUR account.
If you have more than one card, replacement cards will be sent for each. Current iCard cards will be deactivated on 31 December 2025.
Reminder: until 31 December 2025, when withdrawing cash in EUR at an ATM or paying in EUR at a POS terminal with your myPOS Business card, always select the currency of your new card - “EUR”.
2.4. How do I receive my new card?
Log into your myPOS account, confirm your delivery address, and accept the new agreement with myPOS Ltd.
Your new card will then be automatically shipped by courier.
2.5. Will my POS terminals and online services continue to work?
Yes. Your POS terminals and online services (Checkout, PayButton, PayLink, etc.) will continue working.
They will be automatically reconfigured to your new primary account on 31 December 2025.
2.6. Will the TIDs of my devices or online services change?
No. Terminal identifiers (TIDs) remain the same.
3. Balances and currencies
3.1. Will my funds be transferred to the new account automatically?
Yes. All balances will be automatically transferred on 31 December 2025.
Funds in BGN will be converted to EUR at the fixed BNB rate: 1 EUR = 1.95583 BGN.
3.2. Will there be a markup when converting from BGN to EUR before January 1, 2025?
No. For all operations related to the conversion from Bulgarian lev (BGN) to euros (EUR), including transfers, card payments, withdrawals, and payment acceptance, no currency markup is applied. All transactions are carried out at the fixed BNB exchange rate: 1 EUR = 1.95583 BGN, without additional fees or hidden differences in the rate.
3.3. What happens to my USD and JPY accounts?
USD and JPY accounts will be closed, as myPOS Ltd. does not support these currencies.
Balances will be converted to EUR at the exchange rate on 31 December 2025.
4. Fees, pricing, and payments
4.1. Will fees or pricing change after the migration?
No. Fees and conditions remain unchanged.
4.2. Will ATM withdrawal or transfer fees change?
No. Withdrawal and transfer fees remain the same.
4.3. Will I be able to deposit cash via an ATM?
No. Cash deposits through ATMs will no longer be available.
4.4. Can I make or receive budget (SEBRA) payments?
You will still be able to make outgoing budget (SEBRA) payments.
However, incoming payments from state or municipal institutions will not be supported for now due to the way SEBRA operates.
4.5. Will I be able to make internal transfers between my old and new account?
Once you accept the new agreement with myPOS Ltd., your old account will remain with iCard AD, and your new account will be opened with myPOS Ltd., which are different financial institutions. This means that transfers between these accounts can no longer be treated as “internal.”
To move funds between them, follow the steps according to the myPOS platform you are currently using:
- Web account:
Merchant account->Payments->Account transfer - Mobile app:
Send (button on main page)->Balance transfer
5. Blocked or seized accounts
5.1. What if my account is blocked?
Blocked accounts will not be migrated.
If the reason for the block can be resolved, you can reactivate the account by 1 December 2025 to include it in the migration.
Do the following:
– Check the reason for the block;
– Contact us at help@mypos.com or via in-account chat for specific instructions;
– Resolve the issue as soon as possible to ensure your account is ready for migration.
5.2. What happens if my account is under seizure?
Accounts under seizure will not be migrated and will be closed according to standard procedure.
5.3. Will I be notified if my account is closed?
Yes. You will receive a notification with a specific deadline and instructions.
5.4. What is the “non-cooperation fee” and when does it apply?
This fee applies if you fail to provide required documents or assistance to resolve an issue and your account remains blocked.
The fee is EUR 151.85 (or BGN 297) per month, effective from 3 March 2026, and will be automatically deducted from your balance or reserve account.
6. Taxes and reporting
6.1. Does using a myPOS account from myPOS Ltd. require VAT registration under Art. 97a(1) of the VAT Act?
No. The fees paid by clients for myPOS services are for payment and e-money services, which are VAT-exempt under Art. 46, para. 1, item 3 of the VAT Act.
This interpretation is also confirmed by the Bulgarian National Revenue Agency (NRA) in official opinions No. M-24-36-23/19.09.2024 and No. 55-30-6134/30.04.2025.
6.2. Will the way I report income to the NRA change?
No. The reporting process remains the same.
Your tax obligations depend on where you conduct your business, not on the country of your payment institution.
7. Access and data
7.1. Will I still have access to my transaction history after migration?
Yes. Your transaction history will remain available in your myPOS account.
7.2. Should I download my statements in advance?
Yes, if you have a blocked or closing account. We recommend downloading and saving important documents in advance.
7.3. Will my login or security details change?
No. Your username, password, and security measures remain the same.
8. Incomplete applications
8.1. What if I started but haven’t finished my myPOS application?
Your application remains active. To complete it, simply accept the new agreement with myPOS Ltd.
8.2. Do I need to submit a new application after 1 January 2026?
If you do not complete your current application by 31 December 2025, it will be automatically closed.
You can re-apply after that date.
9. Declaring your account to the Bulgarian National Bank (BNB)
9.1. Do I need to declare my new myPOS Ltd. account to the BNB?
Yes. According to the Currency Act and BNB Regulation No. 27, all business accounts held with foreign banks or electronic money institutions (including myPOS Ltd.) must be declared.
– Declaration deadline: within 15 days of opening the account.
– Account opening date: 1 January 2026, or the date you accepted the agreement with myPOS Ltd.
– Quarterly report: every three months, you must submit a short report on your account balance.
The procedure is simple and standard. Most accountants are familiar with it and can assist you quickly.
Note: A separate declaration is required for each IBAN. You can download it from your account under ‘Business Account’ → ‘Accounts’. Select the relevant account, and you will find the form ‘BNB Declaration Form (SPB-2)’ below the IBAN certificate.
For more details, read the article in our myPOS Blog.
Summary
After migrating to myPOS Ltd.:
- Services and fees remain unchanged;
- Access and security stay the same;
- Some features (cash deposits via ATM and incoming SEBRA payments) will be discontinued;
- USD and JPY accounts will be closed, and balances converted to EUR;
- Your new Irish account does not require VAT registration under Art. 97a of the VAT Act, since myPOS services are VAT-exempt.