Cloud Tech Ltd., which offers the business platform NulaBG, is an agent of a licensed financial services provider. This allows us to quickly and securely connect our clients’ bank accounts.

What Does Connecting a Bank Account Involve?

If your business uses a Bulgarian bank account, you can request to connect this account to your business profile in NulaBG. The consent for this is initiated on our website and then confirmed through the online banking of the bank that operates your account.

What Services Require Client Consent?

There are two services for which you can give consent when connecting a bank account:

1. Account Activity Monitoring: This means you agree for your bank to send real-time account information to your business profile in NulaBG. This way, you can monitor your bank account directly from our website.
2. Payment Initiation: This means you consent to NulaBG generating and initiating payment orders, which are then approved and completed through the online banking of the bank that operates your account.

What Are the Benefits of Account Activity Monitoring?

When the bank starts sending real-time activity of your account to your online profile, NulaBG begins to track all purchases and sales you generate, matching them with invoices and other documents. This allows you to monitor in real-time what is happening with your clients, receivables, and liabilities.

Additionally, all transactions are automatically posted to the correct accounting accounts, which we have preset in each profile.

What Are the Benefits of Payment Initiation?

Since NulaBG automatically calculates various types of taxes and health insurance contributions for liable persons, NulaBG clients can initiate these payments directly from NulaBG. They will then be redirected to their online banking site to confirm the pre-loaded payment orders. This allows our clients to transfer salaries, obligations to counterparties, or the budget.

Who Has Access to Bank Accounts in NulaBG?

Only those who have the right to operate these accounts online have access and control over the bank accounts. These are the account holders and those authorized by them. In other words, if you do not have access to the online banking of an account, you cannot connect it to NulaBG.

Where and How Is the Information from Bank Accounts Stored?

All information related to your business profile is securely stored on our servers located within the European Union. We follow all best practices for the security, storage, and encryption of data in transit. Additionally, we offer biometric authentication if your device supports it.

Try nula.bg Free for 30 Days and See the Benefits of Open Banking for Your Business!