Banking

Living in Europe | Banking | Romania
 

 

 

 

Currency

Romanian currency is called LEU (code RON) and it is divided in 100 bani.

Recently, a currency reform took place, changing the former leu (ROL) into a new leu (RON).

Coins in circulation are: 1 ban, 5 bani, 10 bani and 50 bani. Banknotes in circulation have the following denomination: 1, 5, 10, 50, 100, 200, 500 lei. For more detalies please acces Coins and notes in circulation.

In order to check currency rates visit the website of the National Bank of Romania.

 

 

 

 

Changing money and payments

There are many banks and exchange desks at your disposal for exchanging currencies. You can find them in airports, city centers and train stations. You may exchange cash (preferably euros, English pounds, or US dollars) in all the banks (open 9.00 – 17.00) or Exchange offices (some of them open 24h).

If you use exchange offices always check the commision percentage.

In Romania all types of credit cards valid in the European Union are accepted. Credit cards may be used at retailers or service providers where signs indicate the cards accepted, and at any ATM. .

Please note that in most small shops and at the local market, only cash payments are accepted.

 

 

Account opening

To open a bank account in Romania, individuals need to bring a copy of their passport with them to the bank.

Contact the individual banks for a complete list of required documents, which may include bank statements from previous accounts, proof of residency, and other identifying documents.

Most banks offer you the possibility of opening an account in Leu or Euros, or separate account for each of them. Different types of accounts (current, savings etc.) are available. Condition and charges vary. For accurate information check directly with your chosen bank.

 

 

Information provided by EURAXESS Romania