Banking in Romania 2026: opening an account as a foreigner

Opening a bank account in Romania

You'll generally need a Romanian fiscal code (NIF, issued by the tax authority ANAF), proof of address, a passport or national ID, and often a residence permit for a full-service resident account. Non-residents can open accounts too, though banks tend to ask for more — sometimes proof of business or investment activity in Romania — and foreign documents may need notarised, apostilled and certified Romanian translations. Banca Transilvania (the largest bank), BCR, BRD - Groupe Société Générale and the state-owned CEC Bank are common choices, while ING is the go-to for a slick app-first experience.

Currency, multi-currency and moving money

Romania is in the EU but not the eurozone — local accounts are in leu (RON), and euro adoption is a long-term goal rather than an imminent switch. That said, Romania is a full SEPA member with 24-character IBANs, so euro transfers to and from the rest of the EU are fast and low-cost. Most residents pair a RON account (for rent, utilities and salary) with a multi-currency app like Wise or Revolut for cheap FX between leu, euro and other currencies. Banks usually let you hold EUR and USD sub-accounts as well.

Crypto and bank policy

Crypto on-ramps run through EU-regulated exchanges under the MiCA framework. Romanian banks treat crypto transfers cautiously and case-by-case, so confirm your bank's policy before moving funds. As an EU member, Romania participates in CRS automatic exchange of financial account information, and deposits are protected up to EUR 100,000 per depositor per bank by the Bank Deposit Guarantee Fund (FGDB).

At a glance

Where it fits in a borderless plan

Romania's low-cost banking, full SEPA access and one of the EU's fastest internet connections make it an underrated European base, sweetened by a flat personal income tax and a well-known IT freelancer scene. Banking is one pillar of a borderless setup. Line it up with where you are tax-resident, your Bitcoin self-custody plan, and the rest of daily life — healthcare and schools. Compare countries in our banking-abroad guide.