Source: https://rivet.global/blog/bulgaria-software-companies-billing-us-clients
Published: 2026-09-19 · Updated: 2026-09-19 · By Rashidatou K.

# Bulgarian software companies billing US clients after the euro switch

Bulgaria now uses the euro, but American clients still pay in dollars. How a Bulgarian software company collects USD in full, handles the W-8BEN-E and converts to euros.

## Key takeaways

- Bulgarian companies now keep books in euros; dollar revenue is converted into euros instead of leva.
- US clients paying a Bulgarian IBAN send an international wire, which can arrive late and short.
- US account details turn the payment into a domestic ACH transfer for the client.
- The Bulgaria-US tax treaty, in force since 2008, and a W-8BEN-E let US clients pay service invoices without withholding.

A Sofia product engineering company bills two US clients a combined $56,000 a month. Since January 2026 its books, payroll and Bulgarian costs are in euros, which made German and Dutch clients simpler overnight. The American invoices did not change at all: the clients still wire dollars to a Bulgarian IBAN, the money arrives a week later and a little short, and the bank converts it.

## What the euro solved

For euro clients and suppliers, Bulgaria's entry into the euro area removed conversion entirely. A Munich client pays euros by SEPA into the account payroll runs from.

## What it did not

US clients pay in dollars. Asked to pay a Bulgarian IBAN, they must send an international wire. That usually means:

- an extra approval step in their accounts payable process,
- possible intermediary bank fees deducted on the way,
- a conversion on arrival at the Bulgarian bank's rate, now into euros.

## Make the payment domestic for the client

US account details in your company's own name let the American client pay by ACH, the same way it pays its US vendors. The invoice amount arrives in full, in dollars, usually in one to two business days. Accounts payable teams often pay these faster because they no longer need the foreign wire approval.

## The W-8BEN-E

Expect each US client to ask for Form W-8BEN-E before the first payment. It confirms that your company is not a US person. For services performed in Bulgaria, payments are generally made without US withholding, and the Bulgaria-US tax treaty covers other income types. Sign and send it once per client.

## Convert on your terms

Bulgarian software companies typically have dollar costs too: cloud hosting, developer tools, US conferences, subcontractors. Paying them from a dollar balance means part of the US revenue never needs converting. The rest can be converted to euros before payroll at a rate you see first.

## Paying into Bulgaria: the local rail

| What | Detail |
|---|---|
| Local rail | SEPA Instant Credit Transfer (Bulgaria adopted the euro on 1 January 2026) |
| Run by | European Payments Council scheme, run by each bank |
| Settlement | Under ten seconds, 24/7 |
| Published fee | By the EU Instant Payments Regulation, no more than the bank charges for a standard SEPA transfer |

Source: [European Payments Council: SEPA Instant Credit Transfer](https://www.europeanpaymentscouncil.eu/what-we-do/sepa-instant-credit-transfer). Checked when this guide was last updated; the scheme's own page has the current figures.

## Where Rivet fits

A Rivet business account gives a Bulgarian company US account details in its own name on every plan, for ACH and wires, plus euro details with an IBAN and sterling details from the Growth plan. Payments are matched to invoices, dollars can be held or converted at a rate shown before you confirm, and company cards spend from the dollar balance. Rivet is not a bank; regulated partner institutions hold the funds.

See [the W-8BEN vs W-8BEN-E guide](/blog/w-8ben-vs-w-8ben-e).

## Questions

### Does joining the euro help with US clients?

Only partly. You now convert dollars into the currency of your costs directly, but American clients still pay in dollars and still send international wires to a Bulgarian IBAN.

### What form will US clients ask for?

Form W-8BEN-E, confirming the Bulgarian company is foreign and, where relevant, claiming the Bulgaria-US tax treaty.

### Should we price US contracts in euros now?

US clients usually prefer dollars. Pricing in euros moves currency risk to them and can slow approvals.

### When should we convert dollars to euros?

Convert what you need for euro costs, on a schedule, and pay dollar costs such as cloud, tools and contractors from the dollar balance.