Bank account opening in Romania
FormationWise can assist you in opening a bank account in Romania from beginning to end.

Why Romania
Romania’s remarkably steady banking system has helped make it a top destination for ex-pats and high-net individuals looking for a fresh start. Bucharest is home to many of these ex-pats and high-net-worth individuals. Today, if you’re looking to retire, work, or study in a place filled with pleasant, hardworking people and beautiful cities, there’s no better place than Romania. Its reliable banking system comprises 30+ banks, thousands of branches, and an extensive ATM network.
Who are we
During our years of expertise we have managed to build an impressive network of experts and partners across the globe. Therefore, we are ready to face every challenge and work with our clients towards success.
What we do
Our expert team at FormationWise is here for you every step of the way. Opening a Romanian bank account is a straightforward process. However, tackling it on your own can become overwhelming. Our experts will make sure everything goes smoothly and your account is up and running in no time.
So, Why Should You Open a Bank Account in Romania?
It will benefit you significantly if you’re an international business owner, student, or even planning on relocating. Some of the top benefits you stand to enjoy include:
- Asset protection
- Risk diversification benefits
Placing an order is easy
- 1
Select the offshore bank account opening package
Simply pick the offshore bank account opening package that you desire. You can do this by filling out our form, giving us a call or by placing your order via our website.
- 2
Make your payment
After you have finalized the right package for opening an offshore business bank account or a personal offshore bank account, you next need to make your payment for the service that you have selected.
- 3
Send your required documents
Step three involves sending us all of the necessary documents required to get an offshore bank account. You can send this documentation via email through an attachment or you can do so by phone.
- 4
Start the process to open new bank account
The fourth step in the process of setting up an offshore bank account online involves our team receiving yoru payment and required documentation. Once we have confirmed receipt, we will begin working on the service that you have ordered for the chosen jurisdiction.
- 5
Open an overseas bank account online
The end result of this process involves our team facilitating your offshore bank account opening.
Our Bank Account Opening in Romania Services Include
Monitoring the Account Opening Process
We have an in-house team of experts who will carefully guide you through the process of opening a bank account in Romania. Our team understands the significance of this process to your life, finances, and operations in your new country of residence. We will, therefore, do our best to ensure that it goes smoothly, allowing you to start enjoying the benefits of offshore banking as soon as possible. Our team applies effective monitoring throughout the application to ensure this process is straightforward.
Assistance and Consultation with High-Risk Business Accounts
We at FormationWise are committed to providing you with professional offshore business bank account services. You can trust us to offer any assistance you may need in operating these accounts and in processing and receiving payments. Our team will give you pointers on how to use the leading credit card networks to accept and make merchant payments. Please note that it’s crucial that you learn how to use these accounts before accepting any payments to reduce the risk of the money getting lost.
Assistance with Choosing the Most Suitable Bank
As any accomplished investor will tell you, there are a lot of decisions that you must make when trying to open offshore bank account remotely. One such decision is on the bank to use for your banking needs. You should think about whether to open the non-resident offshore bank account in person or remotely; learn about the minimum deposit required by the bank; whether or not you’ll need multicurrency banking or even online banking facilities. FormationWise has an experienced team that will take you through everything it takes to select an excellent banking partner. It’s a team that understands your banking needs and is committed to helping you meet them.
Assistance with Multicurrency Accounts
Multicurrency accounts offer several benefits, the top one being their ability to hold several currencies in a single account. It’s a matter of significant importance to most international investors interested in learning how to open offshore company and bank account. You'll be able to manage your money efficiently when traveling abroad and benefit from faster, smoother, and easier money transactions and conversions. You can trust us to offer expert assistance in opening and running a multicurrency account. Our in-house team will ensure that you know everything there’s to know about these accounts, taking time to confirm that the accounts do, in fact, meet your business banking needs.
Banking Introductions to Reputable Banks in Romania
We are here to do much more than advise you on multicurrency accounts. Our team’s services also cover an introduction to types of offshore banking services offered by renowned banks in Romania and around the world. You’ll come to appreciate this service as it assists you in dealing with the formalities involved in operating an offshore bank account. We at FormationWise want to ensure that you’re armed with all the information you may need about these banking facilities. We will ensure you’re ready to get started by introducing you to the best banks in the country.
Opening of Corporate, Trust, and Personal Accounts
Setting up an offshore account for personal or corporate banking will enable you to reap the benefits offered by the Romanian banking system. The team at FormationWise will offer guidance on how to select the safest banks in the country. Remember, setting up an offshore account is merely the first step to doing business in the country. You still have to confirm that your money is safe and that you can access it anytime you want to pay for a service. For this, you’re required to learn the differences between these three types of accounts.
Operation and Maintenance of Bank Accounts
Do you require assistance with the process and procedures of bank account opening in Romania? We are here to assist you in maintaining your accounts per the standards you have set for yourself and your business operations. With our help and ongoing guidance, you stand to enjoy risk diversification and asset protection benefits offered by a Romanian offshore bank account. We will be glad to consult with you on how our operation and maintenance of bank accounts can benefit you. Our team will let you know of the manner in which they can make a difference in your life.
Arranging Letters of Credit
An international business person looking to open a bank account in Romania can benefit from learning more about letters of credit. These letters are vital to business owners planning on selling goods and services in the country. Romanian banks often issue these letters as an assurance of payment. Typically, there are documents the bank will want to see first before they can issue these letters. An example will include proof that you have sent the said goods. The professionals at FormationWise have tons of experience in arranging such letters.
Arranging Credit and Debit Cards
As you learn how to open bank account in Romania online, you’ll find that obtaining credit and debit cards during this process is a popular option for most ex-pats and business people. These cards enable you to access your money more easily and from anywhere in the world. FormationWise will aid you in arranging for their delivery after opening an offshore bank account. Its personnel will explain to you any fees that you may want to know about related to their usage. They will also guide you on how to optimize such fees to avoid affecting your bottom line.
Verifying Personal & Corporate Documentation
There are certain documents that the bank will require you to provide before you can open bank account in Romania. It’s a requirement that holds for all applicants, regardless of whether they are planning on opening a personal offshore account or a corporate one. Our offshore banking account experts will review the requirements with you to confirm everything is in order. It’s important to note that every jurisdiction will have different requirements, so you may need to prepare more than one set of documents. Worry not, as we will ensure you don’t get confused about what’s expected of you.
Completion of The Bank Forms, Which Will Be Forwarded To You for Signing with Relevant Instructions
As we may have mentioned elsewhere in this guide, we offer an all-inclusive service, which means we will help you in completing the bank forms. All that will remain is for you to append your signature on the completed forms. In this service, we will supply you with instructions to ensure that you get to fill these forms as is expected of you. Our goal here is to make sure that this process of opening an offshore business bank account goes off without a hitch. Please note that even the tiniest of mistakes can cause the process to get delayed.
Sending the Full Package to the Bank for Final Approval
Once you have filled in the forms and supplied the documentation needed to open an offshore bank account remotely, our team will send these forms to the bank for approval. Before we send them out, we will go through them once again to confirm they are in order. Counterchecking the documentation helps in making certain that the approval process will proceed as fast as possible. Clients who have worked with our in-house team of nonresident offshore bank accounts experts can attest that we do go out of our way to simplify the process. Ours is to enable you to get an offshore bank account in all the top jurisdictions worldwide.
Why Choose FormationWise?
We pride ourselves in being a market leader in all things related to the process of opening an offshore bank account. Additionally, our services transcend teaching you how to open offshore company and bank account and include auditing and tax consultancy. We offer these services through our global networks of qualified experts and partners spread out worldwide. If you’re unconvinced about why you should come to us for help in setting up an offshore account, the following reasons can help convince you of our expertise:
Complete range of services
Our team provides a complete range of services dedicated to learning about the different types of offshore banking services. Our other offerings range from payroll services to offshore bookkeeping and tax planning to financial reporting and internal audits.
Highly experienced team
We have an experienced team that will assist you in opening a bank account in Romania. It’s a team that will efficiently meet all your needs, regardless of whether you’re an individual, trust, or corporation. It handles everything from compliance audits to offshore accounting.
Transparent pricing
Our pricing process is transparent and self-explanatory. You can trust us not to charge you any hidden costs for the services and advice we provide when you come to us for help with a bank account opening in Romania.
Free initial consultation
The first consultation is free. We will use this consultation to determine your needs and evaluate what we can do to help you open bank account in Romania online.
Affordable services
Our services are affordable and are within the market range. The FormationWise team is careful not to compromise on quality when guiding clients on how to open a bank account in Romania.
About us
We have an effective and reliable team capable of managing your auditing and offshore accounting needs. The team will handle your financial data with care, allowing your business operations to thrive.
Banking in Romania
Ex-pats and international investors will find that money, taxes, and banking are relatively straightforward in Romania. There are several options for managing finances, as the Romanian banking system has both local and international banks.
Popular banking options include internet and in-person banking. The banking hours in Romania are from 9 am to 1 pm, Monday through Friday.
Currency in Romania
Although the country is a member of the European Union, you should note that it’s yet to adopt the Euro. Adoption is set to occur in 2027 or 2028. Therefore, as you open a bank account in Romania, you should note that the official currency is the Romanian LEU (RON).
Its currency exists in several denominations, which include the following:
- Coins (They are called bani and include 1, 5, 10, and 50 bani coins)
- Banknotes (1, 5, 10, 50, 100, 200, and 500 RON notes)
ATMs and Credit Cards
Locals refer to ATMs as (bancomat), and they are largely available in all the major cities. Common locations include shopping centers and bank branches. Stores in major cities accept credit cards issued by renowned firms such as Plus, Visa, Star, and MasterCard.
Stores located in smaller towns are unlikely to accept credit card transactions.
Key documents you need to prepare
Anyone planning to go through the motions of a bank account opening in Romania must prepare several documents. These documents can help prove that they are who they claim to be.
They will include a driver’s license, a copy of your passport, or any other official document issued by a government agency in your home country. Depending on the chosen bank, you may have to provide documentation to prove your official address.
An example of such a document can include a utility bill. The bank you’re dealing with will need to confirm its authenticity before processing your application. As such, we recommend that you get these documents notarized before submitting them for processing.
In some cases, you may have to provide additional documentation before you can open a bank account in Romania. For example, the banking facility may request that you supply a financial reference document given to you by your bank.
In summary, some of the documents you may have to make available are:
- Proof of identification, e.g., a government-issued I.D., a copy of your passport, or a copy of your driver’s license.
- Filled and duly signed offshore bank account application form
- Government tax bill or utility bill to show proof of residence.
- Certificate of incorporation for a corporate offshore bank account
- Reference financial letter from your current bank
- Business plan
- Any other document the bank may require
Which Banks to Choose?
Romania has a robust banking ecosystem comprising tens of banks. Below is a look at some of the leading brands and their areas of specialization:

Aedificium Banca Pentru Locuinte S.A came into the industry in July 2004 and traded under the name Raiffeisen Housing bank. The bank specializes in lending and savings for construction and housing.

Alior Bank S. A was established in 2008 and is a universal bank out of Poland. Its services target individual and corporate clients looking to open offshore bank accounts. It combines the principles of innovative solutions with traditional banking.

The European Bank of Reconstruction and Development established Alpha Bank Romania S.A. in 1993. It began operating a year later and provides a broad range of services to individual clients, SMEs, and large corporations.

Banca Comerciala Romana S. A. came into the banking sector in 1990 after taking over the operations of the former National Bank of Romania. Erste Bank from Austria acquired it in 2006, and today offers universal banking solutions, private pensions, and covers leasing operations.
Banking Fees
As you prepare to open a bank account in Romania, please note that it’s not uncommon for offshore account holders to pay for banking services in the country. We recommend going through all paperwork to prevent any unwanted surprises.
Make sure you know what you’re signing up for and determine whether there’s a need to upgrade your package to enjoy additional benefits. Examples of banking fees that you’re likely to encounter include the following:
- 18 lei card delivery fees
- 5 lei for ATM withdrawals
- 9 lei/month account administration fee
These charges are bank-specific and may vary from bank to bank. A good example is when withdrawing cash from an ATM of a different bank other than the one that issued the card. Such a transaction may attract higher withdrawal fees.
Other fees that may affect you when using an offshore business bank account are the transfer fees. These fees will commonly affect people who tend to make regular or semi-irregular international transfers from their offshore business accounts.
How Long Will the Process Take?
Although the process of opening an offshore bank account may appear challenging, the reality is that it is relatively straightforward. The expert guidance offered by the FormationWise team will ensure that it proceeds smoothly.
To prevent unnecessary delays, you’re advised to carefully check your paperwork and the accompanying documentation. Providing incorrect or incomplete sets of papers will cause this process to take longer than it needs to.
If you have any questions, make sure to consult the team at FormationWise. In most cases, it takes 1-2 business days to complete the application process.
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FAQ
Offshore banking in Romania is pretty easy and includes everything an international investor may expect from a banking system. You’ll find that it encompasses all the characteristics of modern banking that you already know, e.g., in-person and internet banking.
Additionally, you don’t need much documentation to open a bank account in Romania, even if you’re not a citizen. For a personal offshore bank account, the bank will require you to provide previous bank statements, proof of residency, an initial deposit, and a copy of your passport.
Some banks may require you to furnish them with a copy of your salary slip or employment contract. Examples of banks to consider for your offshore banking needs include UniCredit, Alpha Bank, and BRD.
The documentation required for bank account opening in Romania may vary from bank to bank. As a rule of thumb, there are certain documents that the business owner or corporation should expect to provide. They include the following:
- Copies of I.D. cards or passports of the shareholders and directors (administrators)
- Copy of the Certificate of Incorporation provided by the Romanian Trade Register
- Copy of the Company’s Article of association (Romanian)
- The Trade Register Extract (it must not be older than one week)
- Specimen signatures
- Shareholder resolution that agreed to the creation of the business entity (it only applies where the shareholder of this new entity is another business entity.
Students, international investors, and high-net-worth individuals are some of the people who need to open an offshore bank account in Romania. FormationWise recommends this account for any person who has financial commitments spanning multiple jurisdictions.
The account will make it easier for you to attend to and manage your commitments. It allows you to move your money easily, ensuring you’re able to make payments and transfer money at the click of a button.
An offshore business bank account also comes in handy if you want to reduce your political risks.
No, you don’t need to have Romanian residency to open offshore bank account remotely. According to federal regulations, ex-pats and international investors have the option to open a nonresident offshore bank account.
However, this is grounded on you providing all the documentation requested by the bank. If you have your paperwork in order, it should take you 1-2 business days to get your account information.
Unlike other countries in the E.U., Romania doesn’t use the Euro, at least for now, and instead uses its own currency known as the RON or Romanian leu. One leu has 100 bani. The leu is the country’s dominant standard.
Foreigners can, however, still exchange U.S. dollars and euros in Bucharest at the available foreign exchange centres. If you conduct business using multiple currencies, make sure to look at the types of offshore banking available and choose the appropriate one.
The National Bank of Romania operates as the country’s Central Bank and is headquartered in Bucharest. The bank is an independent public institution whose primary role is to guarantee and maintain price stability at all times.
It assists in supporting the general economic policies advanced by the government of the day without prejudice to its primary goal. The bank became a part of the European System of Central Banks in January 2007 when the country joined the European Union.
Yes and No! Many offshore bank accounts require the applicant to make a face-to-face appointment. Often, the processing bank will allow you to start the application process by post or online, but you’ll need to make an appointment with the local branch to complete it. The same holds if you want to validate the account and make it operational.
For most businesses and corporations that undertake international transactions, it makes sense to consult FormationWise on the benefits of setting up an offshore account. This account will enable the company to operate in Romania and other jurisdictions.
Other benefits offered by an offshore bank account will include the following:
- Access to new and extensive investment opportunities
- The account offers a higher degree of privacy for your company
- Offshore banking in Romania means less exposure to market fluctuations
- The accounts offer increased tax benefits
No, the process of opening an offshore bank account in Romania is pretty straightforward. To make it proceed smoothly, make sure to gather the documents needed by the bank beforehand.
Once you hand them over and fill in the application forms, it shouldn’t take long to get accepted and approved to operate a Romanian bank account.
Your offshore banking provider should meet your financial needs. Remember, every bank will differ in terms of its strengths, so it may take a while before you can find one that satisfies your banking needs.
FormationWise recommends choosing a bank that has the following qualities:
- Low banking fees
- Internet banking and in-person banking
- ATM access
- High-interest savings rates
Carefully consider every service on offer by a bank before settling on one.