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Bank Account Opening in Romania

Traditional banks · digital banks · remote options · document preparation · share capital transfer

Open a Bank Account

Opening a bank account for a newly registered Romanian company is a mandatory post-registration step — the share capital must be transferred to the company account within 30 days of the account being opened, and the company cannot receive payments from customers or pay suppliers without a business account. Romanian traditional banks require the company director to attend a branch in person with a specific set of documents — and the application can be rejected if the documentation is incomplete or if the bank’s internal KYC policies consider the company higher risk.

Romania For Business SRL advises on bank selection, prepares the complete documentation pack, coordinates the appointment and briefs the client on what to expect at the bank meeting. For clients who cannot travel to Romania, we identify the most suitable digital banking alternatives that allow remote account opening for Romanian companies.

Book the bank appointment before the registration certificate is issued — not after

Romanian traditional banks (BRD, Raiffeisen, ING, OTP, BCR, UniCredit) frequently have waiting times of 1–2 weeks for new company account openings in Bucharest. The share capital must be transferred within 30 days of the bank account being opened — so opening the account promptly after registration is essential. We recommend contacting the preferred bank to schedule an appointment before the ONRC registration is complete.

Traditional Banks vs Digital Banking — Which Is Right for Your Company?

Romanian companies can open accounts at traditional Romanian banks or at digital banking providers (e-money institutions) licensed in the EU. Each option has different requirements, capabilities and suitability depending on the company’s activity and the director’s ability to attend in Romania.

Traditional Romanian bank

Advantages:

  • Romanian IBAN (RO…) — preferred by Romanian clients, ANAF and courts
  • Full banking services — RON, EUR, multi-currency, loans, FX
  • Accepted by all Romanian authorities for salary payments, tax payments
  • Better accepted for VAT registration with non-resident directors
  • Physical branch network for cash deposits and in-person services

Disadvantages:

  • Director must attend branch in person — no remote option
  • KYC process can be slow — 1–3 weeks from appointment to account active
  • Some banks decline foreign-owned companies or non-resident directors

Digital bank (Revolut, Wise, Monneo)

Advantages:

  • Remote account opening — no visit to Romania required
  • Fast setup — account typically active within 3–7 days
  • Multi-currency accounts — EUR, USD, GBP, RON available
  • Low or no monthly fees; competitive FX rates
  • Good for international payments and e-commerce

Disadvantages:

  • Not Romanian IBAN — may cause issues with ANAF direct debit
  • Not always accepted for Romanian payroll (REVISAL) obligations
  • May not satisfy VAT registration substance requirements
  • Not suitable as sole account for ANAF tax payment mandates
Most companies need both — a Romanian IBAN for compliance and a digital account for operations

For international companies with a Romanian SRL, the optimal banking setup is typically a traditional Romanian bank account (for share capital transfer, ANAF tax payments, payroll and Romanian client receipts) combined with a Revolut or Wise Business account (for international payments, multi-currency management and daily operations). Romania For Business SRL advises on the best combination for each client’s situation.

Romanian Banks and Digital Alternatives — Comparison

The table below covers the main banking options available to Romanian company owners. All traditional banks require the company director to attend a branch in person. Romania For Business SRL advises on which bank is most appropriate for the company’s specific situation and ownership structure.

Bank / Option In-person required? Remote option? Best suited for
BRD — Groupe Société Générale ✓ Yes ✗ No Wide branch network; general business; standard documentation
Raiffeisen Bank Romania ✓ Yes ✗ No International client support; English-language service; strong online banking
ING Romania ✓ Yes ✗ No Good digital banking features; favoured for online businesses
OTP Bank Romania ✓ Yes ✗ No Central/Eastern European clients; competitive FX; good customer service
BCR (Banca Comerciala Romana) ✓ Yes ✗ No Largest network; state-linked; solid for all sectors including real estate
UniCredit Bank Romania ✓ Yes ✗ No EU-linked operations; international brand; strong trade finance
Revolut Business (Lithuania EU) ✗ No ✓ Remote Digital-first; quick setup; multi-currency; no Romania branch visit needed
Wise Business (UK/EU IBAN) ✗ No ✓ Remote International payments; low FX fees; IBAN for EU transfers
Monneo / other EMIs ✗ No ✓ Remote Specialist fintech solutions; e-commerce; online businesses
Some banks are more international-client friendly than others — ask before booking

Not all Romanian banks have the same attitude to foreign-owned companies or non-resident directors. Some branches are significantly more experienced with international clients and process these applications faster and more smoothly. Romania For Business SRL recommends the most appropriate bank and branch for each client’s specific situation — reducing the risk of rejection or unnecessary delay.

Documents Required to Open a Romanian Company Bank Account

Every Romanian bank has its own specific document requirements, but the standard document pack for a newly registered SRL with a foreign individual shareholder and director is consistent across the major banks. Romania For Business SRL prepares the complete document pack before the appointment.

Document Detail and notes
Registration certificate (certificat de înregistrare) The original or a certified copy issued by ONRC. Must be the most recent version — if any amendments have been made since original registration, the updated certificate is required.
Articles of Association (Act Constitutiv) The signed, authenticated Articles of Association. Some banks also request a stamped copy from the Trade Register. Romania For Business SRL provides the version appropriate for each bank.
Trade Register extract (Extras ONRC) A recent extract (not older than 30 days) from the Trade Register confirming the company’s current registered information — shareholders, directors, registered address, CAEN codes. Available from the ONRC portal or requested by your accountant.
Director’s valid passport The company director attending the bank meeting must present their valid passport (original). A national ID card from an EU country is also acceptable for EU nationals. The ID must match the details in the registration certificate exactly.
Director’s proof of residential address A recent utility bill, bank statement or official letter confirming the director’s residential address (not older than 3 months). Must be in the director’s name — a translated version may be required if not in Romanian or English.
Director’s NIF (Număr de Identificare Fiscală) Non-resident directors (those who are not Romanian tax residents) may be required by some banks to provide their Romanian NIF — the personal tax ID issued by ANAF. Romania For Business SRL coordinates NIF applications for non-resident directors (€300).
Company stamp (ștampilă) Some Romanian banks still require a company rubber stamp on account-opening forms. Romania For Business SRL advises whether a stamp is needed for the selected bank and coordinates production if required.
Beneficial owner declaration (UBO) Confirmation of the beneficial owner — typically provided via the Trade Register UBO filing confirmation. Some banks request a bank-specific beneficial ownership declaration form signed by the director.
Nature of business declaration Banks ask the director to complete a form describing the company’s business activities, expected transaction volumes, source of funds and anticipated turnover. Romania For Business SRL prepares this briefing in advance of the appointment.

How Bank Account Opening Works — Step by Step

Romania For Business SRL manages the complete bank account opening process — from bank selection through to share capital transfer confirmation. The director needs to attend the bank in person for one appointment; everything else is coordinated on their behalf.

01

Bank selection advice

02

Document pack prepared

03

Appointment scheduled

04

Director attends bank

05

KYC review by bank

06

Account confirmed active

07

Share capital transferred

After the appointment, the bank typically takes 3–10 working days to complete internal KYC checks and activate the account. Romania For Business SRL follows up with the bank and notifies the client when the account is active. The share capital transfer guidance is provided at activation — including the correct bank transfer reference format and the 30-day transfer deadline.

Transferring the Share Capital — Deadline and Procedure

Once the company bank account is open and active, the share capital declared in the Articles of Association must be transferred to the account within 30 days. This is a legal obligation — not a bank requirement — and the transfer confirmation is a document the company must retain.

Aspect Detail
Deadline Within 30 days of the bank account being opened and confirmed active — not within 30 days of company registration. The clock starts from the date the bank sends account activation confirmation.
Amount The full amount of the share capital declared in the Articles of Association. For standard companies: RON 500 (approximately €100). For companies that declared higher share capital (e.g. for VAT registration purposes): the full declared amount.
Who transfers Each shareholder transfers their proportionate share of the total capital from their personal bank account to the company account. Reference: the company name and CUI number, with description ‘aport la capitalul social’ (share capital contribution).
Currency Share capital is denominated in RON in the Articles of Association and in the Trade Register. The transfer must be in RON. If transferring from a EUR account, the conversion to RON is made by the bank at the applicable exchange rate on the date of transfer.
Bank confirmation Keep the bank transfer confirmation (dovada vărsării capitalului social). This document proves compliance with the share capital obligation and may be requested by ANAF during a tax inspection or when applying for VAT registration.
Accounting treatment The share capital contribution is recorded in the company’s accounting books as equity. Your accountant records the transfer in the month it is received. It is not an expense — it is a permanent equity contribution that becomes the company’s working capital.

Digital Bank Account Setup — Revolut Business and Wise Business

For international founders who cannot travel to Romania immediately, or who want a fast, multi-currency business account alongside their Romanian traditional account, Revolut Business and Wise Business are the most widely used digital banking alternatives for Romanian SRL companies.

Feature Revolut Business Wise Business
Registration Online via the Revolut Business app. Requires company registration documents and director ID — uploaded digitally. Online via the Wise Business website. Similar document upload process — registration certificate, director passport, proof of address.
IBAN issued Lithuanian IBAN (LT…) — not a Romanian IBAN. Will not satisfy Romanian traditional bank requirements. UK or EU IBAN depending on plan. Not a Romanian IBAN — same limitation as Revolut.
Currencies Multi-currency — RON, EUR, USD, GBP and 25+ others. RON account available for Romania-based payments. Multi-currency — 40+ currencies. RON account available.
FX fees Competitive — 0.4% above interbank for most currencies. Free up to certain limits on paid plans. Transparent — exact mid-market rate + small fixed fee per transfer.
Setup time Typically 3–7 business days from application to active account. Typically 2–5 business days from application to active account.
Monthly fee From €0 (basic) to €100+ for higher plans with additional features. No monthly fee — pay per transaction.

Romania For Business SRL helps clients set up Revolut Business or Wise Business accounts — preparing the required company documents, advising on the verification process and troubleshooting any KYC queries from the digital bank’s compliance team. Digital bank setup support is priced from €150.

BANK ACCOUNT OPENING COORDINATION — ROMANIA

from €300
coordination fee

BANK ACCOUNT COORDINATION PACKAGE INCLUDES:

  • Bank selection advice — traditional vs digital based on your business needs
  • Bank comparison and recommendation — BRD, Raiffeisen, ING, OTP, BCR, UniCredit
  • Complete document preparation — full bank file in Romanian and English
  • Document checklist and review — confirmed complete before the appointment
  • Branch appointment scheduling — direct bank contact and confirmation
  • Pre-appointment briefing — what to expect, what to bring, how to sign
  • Post-appointment follow-up — confirmation of account opening and setup
  • Share capital transfer guidance — timing, reference and bank procedure
  • Online banking setup checklist — internet banking, payment templates, FX
  • Accounting integration — account details handed over to monthly accountant

FIXED FEES — BANK ACCOUNT OPENING

  • Bank account coordination — traditional Romanian bank from €300
  • Digital bank setup support — Revolut / Wise Business from €150
  • Additional bank account (second account, same client) from €150
  • Urgent appointment coordination (priority scheduling) from €150 extra
  • Share capital transfer guidance and confirmation included
  • Non-resident director — NIF application (required for signing) from €300

Fees confirmed in writing before engagement. The coordination fee covers advice, document preparation and appointment management — the bank account itself is free or subject to the bank’s own standard account fees. Fees may be subject to Romanian VAT.

Frequently Asked Questions — Bank Account Opening in Romania

For traditional Romanian banks (BRD, Raiffeisen, ING, OTP, BCR, UniCredit) — yes, the company director must attend a branch in person. This is a bank requirement (not a legal requirement), driven by Romanian anti-money laundering regulations. There is no power of attorney route for traditional bank account opening in Romania — the director must appear in person and sign the account-opening documentation. For digital banking alternatives (Revolut Business, Wise Business), remote account opening is possible with document upload.

The ‘best’ bank depends on the company’s planned activity, the director’s situation and the priority features needed. Raiffeisen Bank Romania is frequently recommended for international clients due to its English-language service and experience with foreign-owned companies. ING Romania is popular for digital features. OTP Bank suits clients with Central/Eastern European business connections. Romania For Business SRL advises on the most appropriate bank and branch for each client’s specific situation — reducing the risk of rejection or delays.

Not recommended as the sole account. Revolut and Wise do not provide Romanian IBANs — their accounts use Lithuanian or UK/EU IBANs. Some Romanian authorities (including ANAF for direct debit mandates, and some Romanian payroll systems) may not accept non-Romanian IBANs. They are excellent as a secondary account for international payments and multi-currency management, but a traditional Romanian bank account with a Romanian IBAN is recommended as the primary account for tax payments, payroll and Romanian client receipts.

The standard document pack includes: the registration certificate (certificat de înregistrare); the Articles of Association (Act Constitutiv); a recent Trade Register extract (Extras ONRC — not older than 30 days); the director’s valid passport or national ID; the director’s proof of residential address (not older than 3 months); and a beneficial owner declaration. Some banks also require a company stamp and/or a completed business description form. Romania For Business SRL prepares the complete document pack tailored to the selected bank’s requirements.

The timeline has two parts: (1) scheduling the appointment — typically 1–2 weeks from contact to appointment date at major Romanian banks; and (2) account activation after the appointment — typically 3–10 working days while the bank completes KYC. Total typical timeline: 2–4 weeks from starting the process to active account. Romania For Business SRL recommends starting the bank account process before the registration certificate is issued to avoid delays in the share capital transfer.

The share capital declared in the Articles of Association must be transferred to the company bank account within 30 days of the bank account being opened (not within 30 days of company registration). The clock starts when the bank confirms the account is active. The transfer must be in RON, referenced as ‘aport la capitalul social’, with the company CUI number. Keep the bank transfer confirmation — it may be requested by ANAF.

Yes — but some banks are more accepting of non-resident directors than others, and additional documents may be required (including the director’s Romanian NIF — personal tax identification number). Romania For Business SRL advises on the most suitable bank for non-resident directors and coordinates the NIF application if one has not already been obtained.

No. Romanian traditional banks require the director named in the company’s registration documents to attend in person and sign the account-opening documentation. The accountant can prepare all documents and coordinate the appointment — but the director must be physically present at the branch. For this reason, many international founders schedule their bank appointment during a trip to Romania planned in connection with other business, or choose a digital banking alternative for the initial period.

Bank rejection is possible — particularly for foreign-owned companies with non-resident directors, unusual business activities or incomplete documentation. Romania For Business SRL prepares each application to minimise rejection risk by ensuring documentation is complete and the bank’s specific KYC expectations are met. If a rejection does occur, we advise on the grounds for rejection, recommend an alternative bank and prepare a strengthened application for the next attempt.