Even a couple of years ago, private banking for foreigners was challenging in terms of actually opening an account, and also in terms of obtaining a decent level of service comparable to Western Europe, nowadays the process is much easier, and there is a wide range of banks which offer foreigners current accounts, savings accounts, and even credit cards. It is important, however, before opening any kind of account, to register at the Foreigners’ Registration Office (APS – Autoritatea pentru straini). To open a bank account you will need your personal identification number (Cod Numeric Personal – CNP) that is issued by the APS. If you need assistance in opening a bank account contact the City Compass Team! We have made our following selection based on the network of ATMs, availability of English language services, online banking and the branch network coverage. Chip and pin cards are normally accepted at all cash machines, apart from Volksbank branch machines.
Romanian banking fees are fairly high compared to many other countries, Western Europe and the US in particular, so please take this into consideration if you intend making frequent international transfers. You may prefer to investigate the option of using www.moneybookers.com which many international readers have suggested to be a good option.
If you would like to obtain a Romanian credit card then you will need to apply for a card limit, submitting an income statement (Adeverinta de venit) certified by a public notary.
Web: www.unicredit-tiriac.ro (Unicredit Tiriac Bank)
www.unicredit.eu (Unicredit Group)
The Unicredit Tiriac Bank in Romania is based on the network of the former Romanian bank Banca Tiriac, which was founded by the Romanian business man Ion Tiriac. It offers a good network of ATMs and branch offices in Bucharest. In most of the branch offices, you can make currency transactions.
Bank accounts can be administered in RON, EUR, GBP and USD. The online banking interface is comprehensive and user friendly and offers the possibility for foreign currency transactions online if you hold a bank account in EUR, GBP or USD.
In Central and Eastern Europe Unicredit is a key player in the private banking market. It holds branch offices in most of the CEE countries. Unicredit clients benefit from reduced commission fees on ATM transactions at Unicredit ATMs worldwide.
web: www.ing.ro
The Dutch ING Bank operates a network of franchise offices all over Romania. These offices offer account administration services with self-service terminals, ATMs and face-to-face services which do not include cash transactions.
Non-ATM cash transactions are only available at the ING headquarters on Sos. Kiseleff 11-13, Sector 1. Accounts are available in RON, EUR, GBP and USD. The ING Romania homepage is available in
English and Romanian.
Web: www.brd.ro/en/the-bank (Expat Section)
www.brd.ro/en/foreign-special/expatriates-in-romania/ (Expat Section)
www.brd.ro/en/the-bank/brd-branches/ (Branch Locater Tool)
www.brd.ro/en/the-bank/brd-atms/ (ATM Finder)
The BRD (Romanian Development Bank) is a formerly Romanian bank, which is now part of the French Societé Générale Network. Like Unicredit, BRD has a well-developed network of ATMs and branch offices. BRD also specializes in expat clients, and has a special service section dedicated to their needs. Online banking services are available in RON as well as in EUR and USD.
Address: 163, Calea Grivitei , Sector 1, Bucharest
Phone: +40 21 310 05 12
Web: www.intesasanpaolobank.ro
Intesa San Paolo has been growing rapidly over the past year and offer very competitive bankingfees compared to other banks (especially international transfers, and account management fees for debit and credit cards).
Web: www.bcr.ro
The Romanian Commercial Bank (BCR) is another important key player on the Romanian banking market. In 2007, it was integrated into the Austrian Erste Group and has gone through a process of rebranding. Currently the bank is undergoing an organizational change process to transform it into a modern, customer service oriented bank. However, due to its current personnel structure, it may be harder to find English-speaking employees there. Nonetheless, the bank’s Hotline is available in English. BCR offers online banking for RON and foreign currencies (EUR and USD), and has a very good network of branch offices and ATMs.
Web: www.cec.ro
CEC Bank (Casa de Economii si Consemnatiuni) was the first bank in Romania to offer private banking services. It was inaugurated in 1864 by Alexandru Ioan Cuza, and is a state-owned bank. Being the oldest bank in Romania, CEC Bank has developed a good network of branch offices and ATMs all over the country. Considered to be a conservative bank and lagging behind modern developments on the banking market, in 2007 CEC initiated a rebranding process to show a modern face to its customers. The website is meanwhile available in English as well. It still may be difficult for you to find a clerk able to handle your request in English.
Web: www.alphabank.ro
The Greek Alpha Bank has been extending is network in Romania for the last several years and is now present in all major cities. The bank offers both commercial and private services. The ATM and branch office network in Bucharest covers all major points of interests in the six sectors of the city.
Current accounts are available in RON, EUR and USD and can be administered through online banking. The Alpha Bank Homepage is available in Romanian and English. Forms for account application are available online.
Web: www.millenniumbank.ro
The Portuguese bank launched its operations in Romania in 2007. The Bank has a progressive growth strategy and has extended its network to six counties in Romania already. In Bucharest, Millennium Bank has ATMs and branch offices at all major points of interest. Accounts are available in RON, EUR, USD, CHF, GBP and foreign accounts can be administered via online banking. The webpage and services are available in English.
Web: www.emporiki.ro
The Greek Emporiki Bank operates a very modest network of ATMs and branch offices; they currently number 17 for the entire country. Accounts are available in RON, EUR and USD. The bank offers online banking services, but unfortunately, it is only partly translated into English, and only supports Microsoft Internet Explorer.
