How to Open a Bank Account in Romania

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Open a bank account in Romanian: It makes paying your bills easier.
Open a bank account in Romanian: It makes paying your bills easier. (Image: romania flag icon. (with clipping path) image by Andrey Zyk from Fotolia.com)

Romania is situated in eastern Europe and has become a popular destination. Romania is part of the European Union but has not adopted the euro as its currency. Bank accounts can be denominated in euros or local currency, the Romanian New Leu(RON). You get about RON 3 to $1 as at July 2010. Opening a Romanian bank account enables you to pay for goods and services in local currency and is essential if you work or own a property there. You don’t need to pay to convert currency, and ATM withdrawals are free. Most banks offer a full range of banking facilities and are regulated by the Romanian National Bank.

Things You'll Need

  • Passport
  • Proof of address
  • Evidence of income

Apply in person to open a bank account in Romania. Choose a large bank: They will have the most branches in the country and will have more experience of opening accounts for foreigners. The largest banks are OTP Romania, Banco Romana Pentru Dezvoltare, CEC and Raiffeisen Bank (see Resources).

Select your bank. Call to get requirements to open a bank account in Romania. Minimum requirements will include passport, proof of address and bank statements from your existing bank. If you work in Romania, a work permit is required. You will need to show how the account will be funded.

Make an appointment to visit the bank. Ensure you have the required documents. You will need a deposit to open a bank account in Romania. Complete the application form.

Wait to be notified your account is open. It will take a few days while your identity is verified. Collect your bank cards directly from the bank.

Tips & Warnings

  • Bank opening times vary. Usual business times are weekdays 9 a.m. to 4 p.m. Check with your bank. Internet banking is new. Large banks are best if you require Internet access.
  • Banks usually charges for services. Check it out before opening your account as charges vary between banks.
  • You are liable to pay tax on income earned in Romania. If you have worked or lived in Romania for more than three years and work more than 182 days a year, you have to submit an annual tax return. Exceptions apply if you can prove you have declared and paid tax in your home country.

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