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Romania – Banking

Romania is a country located in Southeast Europe, and it has a well-developed banking system with various local and international banks. In this article, we will discuss the main local banks in Romania, whether major UK and USA banks have a presence, accounts and services specifically aimed at expats typical bank opening hours, specific areas of concern for expats, and how to open a bank account in Romania as an expat.

Local Banks in Romania

The following are the main local banks in Romania:

  • Banca Transilvania – Banca Transilvania is a prominent Romanian bank known for its comprehensive banking services.
  • BRD-Groupe Société Générale – BRD-Groupe Société Générale is a well-established Romanian bank offering a wide range of financial solutions.
  • Raiffeisen Bank – Raiffeisen Bank is a major player in the Romanian banking sector, providing various financial services.
  • UniCredit Bank – UniCredit Bank operates in Romania, offering banking products and solutions to customers.
  • BCR – BCR (Banca Comerciala Romana) is one of the largest banks in Romania, serving a broad customer base.

Major UK and USA Banks in Romania

Major UK and USA banks do not have a significant presence in Romania. However, some international banks have branches or representative offices in Romania, such as Citibank and HSBC.

  • Citibank – Citibank has a presence in Romania, providing banking services to customers.
  • HSBC – HSBC operates in Romania and offers various banking solutions to clients.

Accounts and Services for Expats

Banks in Romania offer various accounts and services specifically aimed at expats, such as:

  • Multi-currency accounts
  • International money transfers
  • Foreign currency exchange
  • Credit and debit cards with no foreign transaction fees
  • Online and mobile banking in English
  • Dedicated customer service for expats

To open an expat account, some banks may require proof of residency or a work permit.

Typical Bank Opening Hours

The typical bank opening hours in Romania are from Monday to Friday, between 9:00 AM and 5:00 PM. Some banks may have extended opening hours, such as opening on Saturdays.

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Specific Areas of Concern

One specific area of concern for expats regarding the banking system in Romania is the prevalence of credit card fraud. It is recommended to take precautions such as using ATMs located inside banks or shopping centers and regularly checking your bank account for any unauthorized transactions.

Opening a Bank Account

To open a bank account in Romania as an expat, follow these steps:

  1. Choose a bank that suits your needs and visit their branch office.
  2. Bring a valid passport or ID card, proof of residency or work permit, and any other required documents.
  3. Fill out an application form and provide any necessary information.
  4. Wait for the bank to verify your information and open your account.
  5. Activate your account by depositing funds.

It is important to note that the specific requirements may vary depending on the bank and the type of account you wish to open.

The banking system in Romania offers various options for both local and expat customers. With the information provided in this article, expats can choose a bank that suits their needs and easily open an account.

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