EXPATS IN ROMANIA

all expats welcome to romania

Banking Guide

Banking Guide for Expats in Romania

Opening a bank account in Romania is straightforward. Here’s what you need to know.

Best Banks for Expats

Bank Pros Cons Best For
ING Bank Best mobile app, no branch visits needed, English support Limited branches Digital-first users
Raiffeisen Good English support, many branches, reliable Higher fees Traditional banking
BCR Largest network, George app Can be bureaucratic Those needing branches everywhere
BRD (Societe Generale) French connection, good for EU transfers Average app French expats
UniCredit International network Fewer branches Italian connection
Revolut Easy setup, multi-currency, no CNP needed initially Not a “real” Romanian account Digital nomads, quick start

Requirements to Open Account

Documents Needed

  • Valid passport or ID
  • CNP (Personal Numeric Code) – essential for most banks
  • Proof of address (utility bill, rental contract)
  • Proof of income (employment contract, pension statement)
  • Residence permit (for non-EU)

Without CNP

Some options while waiting for CNP:

  • Revolut – Works with passport only
  • Wise (TransferWise) – EUR account with Romanian IBAN
  • ING – May open with passport + proof of address (limited functionality)

Account Types

Current Account (Cont Curent)

  • RON and/or EUR
  • Debit card included
  • Monthly fee: 0-30 RON (often waived with salary deposit)

Savings Account (Cont de Economii)

  • Interest rates: 3-7% for RON, 1-3% for EUR
  • Some require minimum balance

Digital Banking

Best Mobile Apps

  1. ING HomeBank – Excellent UX, instant transfers, English available
  2. George (BCR) – Modern, feature-rich
  3. Raiffeisen Smart Mobile – Solid, reliable

Features to Look For

  • English language option
  • Instant RON transfers (same bank)
  • Apple Pay / Google Pay support
  • EUR account option
  • International transfers (SEPA)

Transfers

Domestic (RON)

  • Same bank: Instant, free
  • Different bank: 1-2 hours, 0-5 RON fee

International (SEPA – EUR)

  • Time: 1-2 business days
  • Fee: 0-10 EUR

Tips for International Transfers

  • Use Wise for best exchange rates
  • SEPA transfers in EUR are cheapest
  • Avoid SWIFT for small amounts (high fees)

Common Issues & Solutions

Problem Solution
Bank requires CNP Use Revolut/Wise temporarily, get CNP first
No English speaker at branch Go to central/business branches, or use ING (phone support)
Card blocked abroad Notify bank before travel, or use Revolut
High exchange fees Use Wise/Revolut for currency exchange

Last updated: December 2024