A list of banks in Romania

Wanting to find out more about Romanian banks? Maybe you’re about to relocate or spend time living in Romania, and need to find the best way to manage your finances.

Opening a Romanian bank account is likely to be one of your first tasks when you arrive. But what banks are there to choose from and which will suit you best?

Read on for everything you need to know. We’ll run through some details about the Romanian banking system, together with a list of the country’s top banks. This should help give you a head start before you move overseas.

We’ll even show you an alternative to a bank which could save you money - the Wise account.

Interested? Let's find out more.

Banking in Romania (an overview)

The Romanian banking system has improved considerably, now that the country has a much more stable economy and financial regulations. The National Bank of Romania is the central financial authority and is one of the oldest central banks in the world.

There are about 34 banks in Romania, of which 5 jointly have the largest share of the market.¹

The good news is you can open a Romanian bank account as a non-resident. To go about setting up an account with a traditional bank, a call is required to schedule an appointment at the bank you’re interested in. You’ll need to present the following documents at your appointment:²

• Passport
• Tax residency
• Employment contract/payslips
• Proof of address
• Previous bank statements.

Additional documents may be required depending on the bank you choose and your personal circumstances.

Many Romanian bank accounts come with a maintenance fee. These can vary though, so if you shop around you may be able to find some with low or even zero usage fees.

ATMs are found throughout towns and cities, but can be harder to find in rural areas. If you have an account with a domestic bank, then cash withdrawals from your bank’s ATMs may be cheap or even free for you to use.

Do note though, if you use foreign cards, then there are often transaction and currency exchange charges to consider.

You might also get hit with high fees when making international money transfers from your bank account during your time in Romania.

To avoid added expense, consider an alternative solution such as the Wise account. It’s ideal for making fast, secure and low cost international transfers, and could save you a bundle.

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

Top 3 popular banks in Romania

Now, let’s look at the best options when choosing a bank in Romania. Here are a list of banks in Romania, featuring some of the biggest and most popular Romanian banks which serve retail customers:

Bank name	Operational HQ
Banca Comerciala Romana (BCR)	Bucharest
Group Societe Generale (BRD)	Bucharest
Banca Transilvania	Cluj-Napoca

Banca Comerciala Romana (BCR)

BCR is one of the biggest retail banks in Romania and is part of the Erste Group.

You can open its online George account (in Euros or Romanian LEI) for a low to zero fee (if you meet certain conditions).³ Then choose from Standard, Gold or Premium options. Gold and Premium options have added benefits such as travel insurance and airport business lounge access.

BCR also offers a selection of young persons and student current accounts, credit cards, savings accounts and insurance products. The bank supports you with 24/7 customer service through telephone and web chat, and you can schedule a visit to a branch.

Group Societe Generale (BRD)

BRD is a bank with a long history in Romania, and is now part of the French financial group Société Générale.

It offers a good range of products, including current and savings accounts with many debit and credit card options. You can pay bills and transfer money quickly, wherever you are using the YOU BRD mobile app.

BRD has tailored account packages for students, salaried employees and retirees. Simply answer a series of questions about your lifestyle and banking preferences on the BRD website to get the account that meets your needs.

Banca Transilvania

The largest bank in Romania by market share¹ means that this is definitely one for you to consider. Banca Transilvania provides customers with a range of current accounts, savings and investment products, loans and mortgages.

Banca Transilvania has a specific pathway on their website for international customers looking to open an account with them. This makes the process nice and easy, as it's a dedicated service and all online, with a short video call.

The BT account is a zero-fee, online only account.⁴ With it you get both a physical and digital card (which you can use with BT Pay, Apple Pay or Google Pay) and BT ATMs are free to use.

Top online bank accounts in Romania

Along with traditional banks, there are also digital banks operating in Romania. They’re ideal if you lead an international life, as they allow you to manage your finances globally at your convenience and in multiple languages.

Popular in Romania are:

• Revolut. Digital bank Revolut offers a choice of monthly plans, starting with a basic free Standard plan. This comes with a debit card and app-based banking services. Pay more if you want to add extra features, such as discounts on international money transfers.
• Wirex. Supports traditional currencies and cryptocurrencies and you can choose to open accounts in either. Its Standard account is free and comes with a debit card.
• N26. With N26 you get a Standard free bank account, which is app based and can be opened easily from your phone. You can upgrade to Smart, You or Metal accounts to get additional benefits.

Manage your money internationally? Check out the Wise account

If you want to send money around the world, you could find it expensive with a Romanian bank.

The good news is that there’s a low-cost alternative available. Open a Wise account, and you can send money worldwide, to 150+ countries for small fees and fair exchange rates.

You can even get an international debit card for spending in 150+ countries, including Romania. When you spend it automatically converts your money to Romanian leu at the mid-market exchange rate and a low conversion fee.

This makes it ideal for anyone living an international life, whether moving, studying or travelling abroad.

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

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Sources used:

1. TheBanks.eu - Major banks in Romania
2. Expat.com - The banking system in Romania
3. BCR - BCR Online George Account with Zero Commission
4. BancaTransilvania - Fee free BT Online Account

Sources last checked on date: 04-Aug-2023