Romania (RO)
Romania is the largest country in Southeastern Europe — a full Schengen EU member state blessed with the dramatic Carpathian mountains, medieval Saxon towns like Sibiu and Brasov, the legendary Transylvania region, a booming technology sector, and one of the lowest costs of living in the European Union.
Banking in Romania
Recommended banks, payment culture and credit score basics.
Romania has a stable banking sector supervised by BNR (Banca Națională a României) with a €100,000 deposit guarantee per depositor per bank via FGDB. Card payments dominate in cities (contactless is ubiquitous), cash is still common in rural areas, taxis and traditional markets. Instant SEPA transfers in RON via Transfond make domestic banking fast; international transfers are best done through Wise or Revolut.
Recommended banks
Banca Transilvania (BT)
EnglishMonthly fee: 0–15 RON depending on package
Requirements: CI/pașaport + CNP or NIF + proof of address (rental contract or utility bill)
- + Largest Romanian bank
- + BT24 app and BT Pay mobile wallet
- + Widest ATM network
- + English-speaking staff in main branches
- - Branch service primarily in Romanian — English available at main city branches (Bucharest, Cluj, Timișoara) but rural and smaller-city branches may not have English-speaking staff
- - International SWIFT fees: RON 25–50 per outbound transfer plus FX spread — Wise is considerably cheaper for regular transfers to non-EU destinations
- - Monthly fees 0–15 RON depending on package — confirm exact fee waiver conditions (salary domiciliation or minimum balance threshold) at account opening
- - CNP (social security number) or NIF (tax ID for foreigners) required — expats must register with Romanian tax authority ANAF for NIF before account opening; allow 1–2 weeks for NIF processing
BCR (Banca Comercială Română, Erste Group)
EnglishMonthly fee: 0–20 RON
Requirements: CI/pașaport + CNP or NIF + proof of address
- + George app (excellent UX, English interface)
- + Strong Erste Group backing
- + Good for mortgages and investment products
- - Branch service primarily in Romanian — English available at major Bucharest branches; outside the capital, English capability is variable
- - International SWIFT fees: RON 20–50 per outbound transfer plus FX spread — Wise is considerably cheaper for regular transfers to non-EU destinations
- - Monthly fees 0–20 RON apply depending on account type — fee waiver conditions (salary domiciliation or balance requirements) vary by account product
- - CNP/NIF required — foreigners must obtain a Romanian NIF from ANAF before opening an account; the NIF application process can take 1–2 weeks
BRD (BRD-Groupe Société Générale)
EnglishMonthly fee: 0–25 RON
Requirements: CI/pașaport + CNP or NIF + proof of address
- + YouBRD app
- + French-owned, international presence
- + Solid branch network
- - Branch service primarily in Romanian — English available at larger Bucharest and Cluj branches; outside main cities, English capability is limited
- - International SWIFT fees: RON 25–50 per outbound transfer — Wise is considerably cheaper for regular transfers to non-EU destinations
- - Monthly fees 0–25 RON — higher than some competitors; confirm waiver conditions based on salary domiciliation or account balance
- - YouBRD app and online banking less feature-rich than BCR's George app — fewer self-service options and less advanced digital banking experience compared to competing Romanian banks
ING Bank Romania
EnglishMonthly fee: 0 RON (free current account)
Requirements: CI/pașaport + CNP or NIF + proof of address; branch visit or Home'Bank onboarding
- + Home'Bank app is top-rated
- + Free current account
- + Popular with expats and younger users
- + DiGi Home mortgage
- - Branch network limited — ING Romania has far fewer branches than Banca Transilvania, BCR, or BRD; in-person banking for complex transactions requires planning to find a branch
- - International SWIFT fees: RON 20–40 per outbound transfer — Wise is cheaper for regular non-EU transfers despite ING's otherwise competitive account features
- - CNP/NIF required — foreigners need Romanian NIF from ANAF; Home'Bank digital onboarding still requires valid Romanian tax ID
- - Savings and investment products more limited than traditional banks — ING Romania focuses on current accounts and basic lending; wealth management and comprehensive investment products less developed than BCR or Raiffeisen
Raiffeisen Bank Romania
EnglishMonthly fee: 0–20 RON
Requirements: CI/pașaport + CNP or NIF + proof of address
- + Smart Mobile app
- + Austrian-owned
- + Good branch coverage
- - Branch service primarily in Romanian — English available at main Bucharest branches; outside the capital, staff English capability is variable
- - International SWIFT fees: RON 20–50 per outbound transfer — Wise is considerably cheaper for regular transfers to non-EU destinations
- - Monthly fees 0–20 RON — fee waiver conditions tied to salary or minimum balance; confirm exact threshold at account opening
- - Smart Mobile app rated below BCR's George app in user reviews — fewer self-service features and less polished digital banking experience than ING or BCR
Revolut
EnglishMonthly fee: 0 RON (Standard) up to ~50 RON for higher tiers
Requirements: Passport + selfie (online)
- + Romanian IBAN available since 2021
- + Multi-currency
- + Excellent for FX and international transfers
- + Instant notifications
- - Lithuanian IBAN primary — some Romanian employers and landlords may require an RO IBAN; IBAN discrimination is illegal under EU law but still encountered in practice
- - Not covered by Romanian FGDB deposit guarantee (€100,000 per depositor) — Revolut operates under Lithuanian banking licence; funds held under Lithuanian DGS scheme
- - International SWIFT fees for non-EU transfers — Revolut Standard users pay per-transfer fees for non-SEPA international wires; check current plan limits before relying on Revolut for large international wires
- - Customer service quality variable — primarily chat-based; complex disputes or fraud resolution can take days without in-branch escalation option
Wise
EnglishMonthly fee: 0 RON
Requirements: Passport + selfie (online)
- + Multi-currency account
- + Cheapest international transfers
- + Works across EU
- - Belgian IBAN — some Romanian employers and landlords still prefer an RO IBAN; Wise's BE IBAN may not be accepted for salary receipt or rental deposits
- - Not a full bank — no credit products, no Romanian mortgage capabilities, no overdraft facility; cannot replace a Romanian bank account for formal financial needs
- - Not covered by Romanian FGDB deposit guarantee — Wise balances are held as e-money under FCA (UK) safeguarding, not Romanian FGDB scheme
- - International transfer fees apply — typically 0.4–1.5% plus small flat fee; while competitive versus traditional bank SWIFT fees, regular large transfers may benefit from specialist FX brokers for even better rates
N26
EnglishMonthly fee: €0 (Standard) / €4.90 (Smart) / €9.90 (You)
Requirements: Passport + selfie (online)
- + Fully English app
- + Works across EU
- + Good for EU-wide employment
- - German DE IBAN — some Romanian employers, landlords, and utility companies may reject non-RO IBAN for salary payment or direct debit setup; supplement N26 with a Romanian bank for IBAN-sensitive transactions
- - Customer service online only — no branch access in Romania; chat and email support for all issues; complex problems take longer to resolve than at traditional banks
- - ATM withdrawal limits on Standard (free) plan — 3 free withdrawals per month then €2 per withdrawal; insufficient as sole cash account for regular cash needs in Romania
- - International SWIFT fees for non-SEPA transfers — N26 Standard users pay per-transfer fees for non-EU wires; Wise is cheaper for regular transfers outside Europe
Payment culture
Contactless card payments are accepted almost everywhere in cities — supermarkets, restaurants, pharmacies, public transport, even small kiosks. Bolt, Uber and Free Now ride-hailing take cards. Cash is still expected at traditional markets (piață), some taxis outside apps, village shops and tipping. Apple Pay and Google Pay work with most Romanian debit/credit cards. Most wages are paid by bank transfer; "la mână" (cash in hand) is a red flag for informal employment.
Cash access
ATMs are everywhere — BT, BCR, BRD, Raiffeisen and UniCredit all have large networks. Most banks allow 3–5 free ATM withdrawals per month from their own ATMs, then charge 3–6 RON per withdrawal. Third-party-ATM fees (e.g. Euronet) can be much higher — 10–15 RON or a % markup. Supermarkets like Carrefour, Mega Image, Lidl and Kaufland occasionally allow cashback at checkout with a purchase.
Biroul de Credit
One free credit report per year at birouldecredit.ro via online account (identity verified by the bank). Paid express reports available for a fee. Lenders pull it every time you apply for a loan or credit card.
Free annual check: birouldecredit.ro — one free report per calendar year under GDPR.
Biroul de Credit tracks loan history, missed payments, credit limits and current exposures for up to 4 years after settlement (7 for defaults). Damage risks: overdue credit card, missed utility bills sent to collections, defaulted telecom contract, too many simultaneous loan applications. Banks also consult ANAF for tax compliance and CRC (Centrala Riscului de Credit) for exposures above 20,000 RON.
International transfers
Wise for best FX and cheapest non-RON transfers; Revolut for multi-currency with an RO IBAN; traditional banks charge 15–50 RON + 1–3% spread. SEPA transfers within the EU are free/low-cost and arrive same or next day (instant in many cases). For USD/GBP or non-EU remittance, always compare Wise vs your bank — the bank spread can easily swallow 2–3% of the amount.