Romania Banking Guide for International Students

Managing your money as an international student in Romania is straightforward once you understand the local banking system. This guide covers everything from opening your first account to sending money home, saving on fees, and choosing the best bank for your needs as a student.

Why You Need a Romanian Bank Account

As an international student, having a local bank account simplifies your daily life. You will need it for receiving your scholarship or salary, paying rent, and avoiding high fees on international transactions.

• Receive funds faster: Scholarships and part-time job salaries are usually paid into a local account.
• Avoid currency exchange fees: Paying with a Romanian card in RON saves you from poor exchange rates.
• Simplify bill payments: Utilities, phone bills, and rent are easy to pay through local banking apps.
• Build a credit history: A good history with your bank can help you later with loans or credit cards.

“Opening a bank account in Romania was the first thing I did after getting my residence permit. It made everything from paying for groceries to receiving my scholarship much simpler.” — Maria, international student from Egypt

Types of Bank Accounts for Students

Banks in Romania offer specific accounts designed for students, often with zero monthly fees and additional perks.

Current Account (Cont Curent)

• Used for everyday spending, receiving money, and paying bills.
• Usually comes with a debit card (Visa or Mastercard).
• Student versions often have no monthly maintenance fee.

Savings Account (Cont de Economii)

• Earns interest on your savings.
• Best for setting aside emergency funds or tuition money.
• Some banks offer higher interest rates for student savings.

Multi-Currency Account

• Holds multiple currencies (EUR, USD, RON) in one account.
• Ideal if you receive money from abroad or travel frequently.
• Helps you avoid conversion fees when keeping money in your home currency.

Documents You Need to Open a Bank Account

Banks in Romania require specific paperwork from international students. Prepare these documents before visiting a branch.

• Valid passport: Must be valid for the entire duration of your stay.
• Residence permit (Permis de Ședere): Proof of legal stay in Romania.
• Proof of enrollment: A certificate from your university confirming you are a registered student.
• Proof of address: A rental contract or utility bill with your name and address in Romania.
• Tax identification number (CNP): You will receive this when you register for your residence permit.
• Minimum initial deposit: Some banks require a small deposit (usually between 10 and 50 RON) to open the account.

“I made the mistake of going to the bank without my student certificate. They sent me back to get it. Always double-check the exact list on the bank’s website before you go.” — Ahmed, student from Jordan

Top Banks for International Students in Romania

Not all banks treat international students the same. Here are the most student-friendly options.

Bank	Student Account Name	Monthly Fee	Special Perks
Banca Transilvania	Contul de Student	Free	Free debit card, mobile app in English, cashback offers
BRD Groupe Société Générale	BRD Student	Free	Free international transfers, student discounts at partner stores
Raiffeisen Bank	Raiffeisen Student	Free	Free account maintenance, free ATM withdrawals nationwide
ING Bank	ING Cont Curent	Free (no monthly fee)	Excellent mobile app, free card delivery, no minimum balance
BCR (Banca Comercială Română)	BCR Student	Free	Free card, free internet banking, student loans available

How to Open Your Account Step by Step

The process is straightforward if you follow these steps. Allow about one to two hours at the bank.

1. Choose a bank: Compare the offers in the table above based on your needs.
2. Gather your documents: Make sure you have originals and copies of everything.
3. Visit a branch: Go to a physical branch near your university or home. Bigger branches often have English-speaking staff.
4. Fill out the application: The bank employee will help you fill in the forms. Most banks have forms in Romanian, so ask for assistance.
5. Make the initial deposit: Pay the minimum deposit in cash or from another account.
6. Receive your card: Your debit card will be mailed to your address or you can pick it up at the branch within 5–10 working days.
7. Activate mobile banking: Download the bank’s app and set up your online access.

Using Online and Mobile Banking

Romanian banks have modern digital platforms that work well in English. This makes managing your money convenient.

• ING Home’Bank: Known for its clean interface and instant push notifications.
• BT Pay (Banca Transilvania): Offers quick transfers, bill payments, and even card freezing.
• Raiffeisen Smart Mobile: Allows you to open a secondary account for savings instantly.
• BRD Mobile: Provides a full suite of services including international transfers.

All these apps support English language settings. You can pay bills, check balances, and block your card if lost directly from your phone.

Fees and Charges to Watch Out For

Even student accounts have some fees. Knowing them helps you avoid surprises.

• ATM withdrawal fees: Using an ATM from a different bank usually costs 5–10 RON per withdrawal.
• International transfer fees: Sending money abroad costs 10–30 RON per transaction, plus a percentage of the amount.
• Currency conversion fees: If you pay in a foreign currency, expect a 1–3% conversion fee.
• Card replacement fee: If you lose your card, replacing it costs around 25–50 RON.
• Overdraft interest: Going below zero without an authorized overdraft incurs high interest.

Sending Money from Abroad to Your Romanian Account

You will likely need to receive money from your family or home country. Here is how to do it efficiently.

• SWIFT transfer: Standard international bank transfer. Takes 2–5 business days and costs 10–30 RON per receipt.
• SEPA transfer: Free and fast (1 business day) if the sender is in a SEPA zone (EU/EEA).
• Online transfer services: Wise, Revolut, or PayPal can be cheaper than bank transfers. You withdraw to your Romanian account.
• Currency exchange: Always check the mid-market rate. Avoid using your bank’s default exchange rate for large sums.

Tips to Save Money on Banking

Small habits can save you significant amounts over a semester.

• Use your bank’s ATMs only: Avoid fees by sticking to your bank’s own ATMs.
• Keep a multi-currency account: Hold Euros if you receive them often, to avoid converting each time.
• Set up automatic bill payments: Avoid late payment penalties by scheduling rent and utility payments.
• Monitor your account weekly: Catch unauthorized charges or fees early.
• Choose a bank with free student perks: Some banks offer free yearly card fees or cashback on student spending.

What to Do If You Face Problems

Issues can happen, but they are usually solvable.

• Lost or stolen card: Immediately freeze your card via the mobile app. Then call your bank’s 24/7 hotline to report it.
• Blocked account: If your residence permit expires, your account may be frozen. Renew your permit and inform the bank.
• Language barrier: Visit a branch in a city center or university area. Staff there are more likely to speak English.
• Unauthorized transaction: Report it to the bank within 24 hours. Most banks have fraud protection and will refund you.

Conclusion

Opening a bank account in Romania is a simple process that will make your life as an international student much easier. Choose a bank that offers a free student account, prepare your documents, and take advantage of digital banking tools. By understanding the fees and using smart money habits, you can avoid unnecessary costs and focus on your studies.

Frequently Asked Questions

1. Can I open a bank account in Romania without a residence permit?

Most banks require a valid residence permit. A few may accept a passport and student visa for a limited period, but it is rare. It is best to wait until you have your permit.

2. Is there a minimum balance requirement for student accounts?

Most student accounts have no minimum balance. However, some banks may require a small initial deposit (10–50 RON) to activate the account.

3. Can I use my home country’s debit card in Romania?

Yes, but you will face high currency conversion fees and ATM withdrawal charges. A local account is much cheaper for daily use.

4. How long does it take to receive my debit card?

Usually 5 to 10 working days. Some banks offer instant card issuance at the branch for a small fee.

5. Can I open a bank account online as an international student?

Very few banks allow this. Most require you to visit a branch in person with original documents. ING and Banca Transilvania sometimes offer online applications if you already have a CNP.

6. Are there banks with English-speaking staff?

Yes, especially in larger cities like Bucharest, Cluj-Napoca, Timișoara, and Iași. Raiffeisen, Banca Transilvania, and ING have dedicated English-speaking customer support.

7. What happens to my account when I finish my studies?

You can keep the account open, but it will likely convert to a standard account with monthly fees. Close it before leaving the country to avoid charges.

8. Can I get a credit card as an international student?

It is difficult without a steady income or a local credit history. Some banks offer secured credit cards with a deposit. Debit cards are sufficient for most needs.

9. Is mobile banking safe in Romania?

Yes, Romanian banks use strong encryption and two-factor authentication. Always download the official app from the App Store or Google Play.

10. How do I close my bank account?

Visit a branch with your passport and residence permit. Request account closure and withdraw any remaining balance. Ensure no pending transactions remain.