Glossary
Net Worth
The difference between the total value of assets and the total value of liabilities of an individual, household, or organization.
Nominal Value
The value stated on a financial or commercial document, asset, or security, representing the official, fixed, or agreed-upon value, without taking into account market conditions, inflation, or other factors
Non-Bank Financial Institution
A financial entity licensed by the Bulgarian National Bank to conduct financial operations but not holding a banking license. This category includes credit and financial institutions, insurance companies, pension funds, health funds, investment companies, and collective investment schemes.
Non-employment legal relationships
Legal relations not governed by labour law but by other sectoral or general legal norms. They include work or service relations outside of an employment contract, regulated mainly by the Obligations and Contracts Act, covering civil contracts such as service contracts, mandate contracts, work contracts, etc. The contractor organizes the time and method of work independently but does not enjoy labour law rights and guarantees (e.g. paid annual leave, sick leave).
Notary Fee
An amount paid for the services of a notary, including the authentication of documents, preparation of contracts, notarization of real estate transactions, motor vehicles, mortgages, cancellation of mortgages, or other legal actions.
Official Exchange Rate of the Bulgarian National Bank
The official rate that indicates the value of the national currency against various foreign currencies. It is published every working day on the website of the Bulgarian National Bank.
One‑Time Password (OTP)
A one-time code for online payments or account login, received via SMS, generated by an m-token, or a mobile application. It may be supplemented or replaced by biometric authentication to enhance security for account access or transaction execution.
Online Banking - glossary for children
Using the internet to check the money in a bank account, send money to someone else, or pay bills, local taxes, and other payments.
Online (Internet) Banking
A digital banking service that allows clients to manage their bank accounts via the internet using a web browser on a computer, laptop, or other device. Access is granted through the bank’s website using a username and password, often with additional security measures such as SMS codes, tokens, or biometric authentication.
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