Dear customers,
Following the acquisition of Tokuda Bank EAD by the Bulgarian-American Credit Bank AD (BACB), Tokuda Bank EAD is set to be merged into the BACB in November 2026 - a step that will allow us to offer you even more modern, secure, and convenient financial solutions.
You are our top priority. We want the transition to be as smooth and convenient as possible, and we want you to feel secure about your finances. Here is the most important information you need to know:
- The terms and conditions of your loans and deposits will remain unchanged.
- Your Cards will be automatically reissued as Visa cards—with even more features, conveniences, and promotional offers.
- Your bank accounts will be transferred to BACB and assigned new IBAN, which we will notify you of in a timely manner.
- In most cases, you do not need to take any action—we will take care of everything and will contact you if we need anything from you (for example for receiving your new card—see point 2, or if you have authorized another person to manage your accounts—see point 5).
Below you will find details about each product and service you use, as well as the new features we will provide to ensure secure and worry-free banking at BACB.
Thank you for your trust!
1. Accounts and Deposits
Your Tokuda Bank accounts will be automatically transferred to BACB—there is no need to close or open new accounts. Each account will receive a new IBAN, which we will notify you of in advance so that you have sufficient time to provide it to your counterparties, employer or institutions.
Current accounts will earn interest according to the terms of the BACB Interest Rates Terms - Section D, items 1 and 2, while savings and children’s deposit accounts will earn interest according to Section B, items 3 and 4. Accounts and transactions associated with them will be subject to fees and commissions in accordance with the List of Terms and Conditions of BACB. You can find more about them in the "Fees, Commissions, Interest Rates" sections.
For current accounts with Bank Card DZEN for retirees, the interest rate will remain unchanged. Their monthly fee will remain at the currently applicable rate until November 30, 2027, after which the List of Terms and Conditions of BACB will apply.
Your term deposits will be transferred exactly as they are with the same agreed-upon term, maturity date, and interest rate. On the first maturity date following the merger, the deposit will automatically be renewed as a BACB Standard Deposit for the same term, at an interest rate in accordance with BACB’s current Interest Rates Terms. Of course, if you prefer another of BACB’s deposit products, you may renegotiate your deposit upon maturity under its terms.
If you have a deposit under a product that Tokuda Bank no longer offers (discontinued), it will be transferred as it is, without an applicable interest rate. After the merger, you may convert it at any time into a current BACB deposit product in accordance with the current Interest Rates Terms.
2. Bank Cards
You will receive a new Visa card without having to apply for it. All active MasterCard and Maestro cards issued by Tokuda Bank will be automatically reissued as BACB Visa cards in accordance with current EU regulations.
How the transition will work in practice:
- Your new Visa card will be issued prior to the merger, and your branch will contact you regarding its pickup.
- Until the merger date, you may continue to use your current card—the new Visa card will be inactive.
- On the day of the merger, the new Visa card will be automatically activated, and the MasterCard/Maestro card will be automatically deactivated.
We will notify you separately of the exact merger date. Our advice: on that day, carry both cards with you and make sure in advance that you know the PIN for your new Visa card.
Since we are changing the payment instrument (your card), after the merger, the General Terms and Conditions for the Provision of Payment Services and Related Payment Instruments of BACB will apply, as well as the General Terms and Conditions for the Issuance and Use of Revolving International Credit Cards, which you can review in advance here . When you visit your bank branch to receive your new Visa card, you will be asked to sign a Supplementary Agreement/Card Issuance Agreement.
3. Online Banking
Nothing will change for you here: you will use the same web address, the same username, and the same password. The only difference you’ll notice on the merger date is the platform’s updated look, aligned with BACB’s corporate identity. The change is purely visual - the menus, features, and functionality remain the same.
Once the integration is complete, BACB will continue to develop its online banking platform with new features, services, and products that will provide you with even more options for remote banking.
4. List of terms and conditions, Interest Rates Terms, General Terms and Conditions, Framework Agreements, etc.
Upon the merger, the documents governing our relationship with you will be replaced by the applicable documents of BACB. The law requires us to list them exhaustively—we have done so below—but most importantly, you can review all the new documents in advance: in the “Documents” section of BACB’s official website and on the page dedicated to the merger.
As of the merger date, the following BACB documents will apply to you:
- List of terms and conditions and Interest Rates Bulletin;
- General Terms and Conditions for the Provision of Payment Services and Related Payment Instruments, with the exception of Section III “Remote Banking”;
- General Terms and Conditions Applicable to Deposits;
- General Terms and Conditions for Processing Payments with Local and International Cards at Physical POS Terminals;
- General Terms and Conditions for the Issuance and Use of Revolving International Credit Cards for Individuals;
- General Terms and Conditions for the Issuance and Use of Revolving International Credit Cards for Legal Entities and Sole Proprietors;
- Glossary of Terms and Definitions Used in BACB General Terms and Conditions;
- Agreement for Processing Payments with Local and International Cards at a Physical POS Terminal;
- Depositor Information Sheet;
- Prior Information for users of single payment services;
- Fee Information document;
- General Rules of CashBack Bonus Program;
- Terms of Use for the SMS PIN Service;
- Terms of Use for the “Additional Authentication for Online Bank Card Payments” Service.
As of the same date, the following Tokuda Bank documents will no longer be in effect:
- Tariff and Interest Rate Bulletin;
- General Terms and Conditions for Payment Services;
- General Terms and Conditions for the Issuance and Use of Bank Cards by Individuals and the Provision of Payment Services via Bank Cards;
- General Terms and Conditions of Tokuda Bank AD and Central Cooperative Bank AD for Processing Bank Card Payments at Electronic POS Terminals;
- General Terms and Conditions for Initiating and Receiving Addressed and Unaddressed Money Transfers via the Unistream System and Unistream Account Agreement;
- General Terms and Conditions for the Use of the Services of the Operator “Epay” AD and “Tokuda Bank” EAD for the Payment of Utility Bills with Bank Cards – “Electronic Utility Bills”;
- Depositor Information Template;
- Prior Information for users of single payment services;
- Information on fees for various products;
- National list of the most representative services related to payment accounts;
- Information on secure online payments.
The following existing documents will continue to apply after the merger:
- Agreement for the Provision of Payment Services via “Internet Banking” and General Terms and Conditions for Internet Banking;
- Agreement for the Issuance and Servicing of a Debit/Credit Card;
- Framework Agreement for Opening and Maintaining a Bank Account and Providing Payment Services to Individuals—Consumers;
- Framework Agreement for Opening and Maintaining a Bank Account and Providing Payment Services to Legal Entities.
5. Powers of Attorney
If you have authorized another person to manage the funds in your accounts, please note that this is a situation in which action on your part may be required.
Until the merger date, we will continue to accept standard written powers of attorney submitted to Tokuda Bank—whether on the bank’s form or in free text—without notarization of the signature. After that date, for additional security and to protect your funds, BACB will accept only explicit written powers of attorney for dispositive actions with a notarized signature of the principal.
What to do: If you wish for the persons you have authorized via a power of attorney without a notarized signature to continue performing transactions after the merger, issue them a new explicit written power of attorney with a notarized signature. For your convenience, you can obtain templates of power of attorney from your local branch.
6. Individually Agreed Fees and Commissions
If you have individually negotiated fees and commissions, they will be transferred to BACB under the same terms and conditions. Agreements without a specified term will remain in effect until November 30, 2027, after which we can renegotiate them together.
7. Loans to Individuals (Consumers)
Your loan will continue under the same terms—the only change is the lender, which will become BACB following the merger. The methodology for determining the interest rate, the interest rate itself, the monthly payment, the fees, and the final maturity date will remain unchanged, unless we mutually agree to make changes.
Monthly payments will continue to be automatically deducted from the account used to service the loan. This account will receive a new IBAN, which we will notify you of in advance and with sufficient notice so that you can direct the loan service payments to this IBAN and ensure that your loan continues to be serviced without interruption.
8. Loans to Merchants
Tokuda Bank’s existing loan agreements with legal entities will be transferred to BACB as the lender under the same terms and conditions: interest rate, repayment schedule, amount and frequency of repayment installments, fees and commissions, maturity date, agreed-upon collateral, insurance, guarantees, and all other agreed-upon terms. Changes are possible by mutual agreement or in accordance with the procedures set forth in the relevant contract and applicable law.
Monthly payments will continue to be automatically deducted from the account associated with the loan, which will be assigned a new IBAN—we will notify you of this in advance and with sufficient notice to ensure the smooth servicing of the loan.
If your loan was granted under a program or financial instrument with a guarantee or other form of public support, the agreed-upon terms and commitments remain in effect, and BACB will continue to fulfill them in accordance with the applicable agreements and the rules of the relevant program.
Additional information and details regarding the merger of Tokuda Bank into BACB can be found here.
Important Legal Information:
By this notice and in compliance with Article 62(1) of the Payment Services Act with respect to consumer clients, we hereby provide you with at least two months’ advance notice of the upcoming changes to the terms of the Tariff and Interest Rate Bulletin, Framework Agreement for Individuals, General Terms and Conditions for the Provision of Payment Services, the General Terms and Conditions for the Issuance and Use of Bank Cards by Individuals and the Provision of Payment Services via Bank Cards, the General Terms and Conditions for Initiating and Receiving Addressed and Unaddressed Money Transfers via the Unistream System, and the Unistream Account Agreement, General Terms and Conditions for the Use of the Services of the Operator “Epay” AD and “Tokuda Bank” EAD for the Payment of Utility Bills with Bank Cards – “Electronic Utility Bills.” Under applicable law, you are deemed to have accepted the changes unless you notify the bank in writing that you do not accept these changes and terminate the relevant agreement prior to the merger date, in which case you will not be liable for any costs or damages.
Sincerely yours,
Tokuda Bank and BACB