|
|
Products and Services
| An account statement is usually issued on a monthly basis. There are also other methods for checking account activity: |
Payments between Companies
|
The law on the exchange operations stipulates that payments between Romanian entities (nevertheless, with several exceptions, such as banks) shall be made in RON. Payment between residents and non-residents, as well as payments between non-resident entities can be made in foreign currency via a bank account. For transfers in foreign currencies, a specific form shall be completed.
|
On the Domestic Market
All conventional payment methods are available in Romania. The main method used is still paper. However, there are also efficient electronic banking tools. |
- Payments in cash are the most current (for amounts < 5000 RON).
- Transfers (under strong development; electronic compensation since June 2005).
- Promissory notes (rarely used).
- Payments by cheque (rarely used).
|
|
For International Transactions
|
- SWIFT transfers (the most employed method).
- Documentary credits (represent a payment guarantee).
- Promissory notes (rarely used).
|
 |
In accordance to Anti-Money laundering rules, any transaction above EUR 10,000 shall be declared to the Central Bank a posteriori.
|
| Once the business and current accounts are opened, it is possible to enter into an agreement with the bank to allow automated payment of wages to employees. Then, the bank issues the same number of debit cards as the number of employees, and credits their accounts with the amount in question on the established date of payment. A monthly wage list shall be transmitted to the bank with a global order of multiple transfers. |
|
It is possible to find all the common financing options in Romania. The more complex solutions of financial engineering are progressively appearing.
Operating needs
|
|
Whether financing is required for the renewal of current equipment, investment in new equipment, modernisation of operations, or increasing or purchasing of buildings or shares, each investment programme has its own characteristics.
It is also possible to opt for loans in RON or in a foreign currency, or to choose equipment or property leasing options. These financing formulas are available to any company (e.g. large corporate, SME.) for any kind of project, and they permit the purchase of any type of material.
|
|
Regardless of the legal structure of the established company, there are several treasury management support options:
|
|
|
