Banking, six Romanian partners
Real Romanian banking,
not a wallet.
A Romanian IBAN at Banca Transilvania, Raiffeisen, Libra, ING, OTP, or BCR is a full bank account, not an e-money product. For non-resident founders, opening one is the hardest part of entering Romania. Banks demand enhanced due diligence, documents in Romanian, and a warm introduction.
We handle all three. First-attempt success rate above 94% on applications we prepare.
Bank account or e-money
A real account signals genuine presence. An e-money account does not.
Banking partners
Six banks.
One point of contact.
We maintain active relationships across Romania's main business banks. Each has a different risk appetite and specialisation. We match your profile to the right institution , not the easiest one to submit to.
Banca Transilvania
Romania's largest domestic bank.
Risk appetite
Moderate–High
Best for
Most founders , especially first-time entrants
Key strengths
- Strong online banking
- Multicurrency EUR/RON/USD
- Most flexible on founder nationality
- BT Pay mobile app
Remote opening
Remote opening possible for most nationalities
Raiffeisen Bank Romania
Austrian-backed, rigorous onboarding.
Risk appetite
Conservative
Best for
Established businesses needing EU correspondent reputation
Key strengths
- Strong EU compliance reputation
- Excellent SWIFT infrastructure
- Business Mastercard available
- Dedicated relationship managers
Libra Internet Bank
Digital-first, fast onboarding.
Risk appetite
Moderate
Best for
Tech companies and digital-first founders
Key strengths
- Best digital UX of Romanian banks
- API access for fintechs
- Fast account activation
- Competitive FX rates
ING Bank Romania
Dutch-backed, strong on SEPA.
Risk appetite
Moderate
Best for
Companies with significant EU cross-border payments
Key strengths
- Excellent SEPA execution
- Strong online platform
- Good for high-transaction volumes
- EUR accounts natively
BCR (Erste Group)
Austria's Erste , largest network.
Risk appetite
Conservative–Moderate
Best for
Companies needing local payroll and trade finance
Key strengths
- Largest ATM/branch network
- Erste Group backing
- Strong for local payroll
- Established trade finance
OTP Bank Romania
Hungarian group, growing footprint.
Risk appetite
Moderate–High
Best for
Holding structures and multi-entity setups
Key strengths
- Flexible on complex structures
- Multi-currency accounts
- Good for holding companies
- Competitive terms
The friction gap
Why non-residents
get rejected.
The Romanian banking system is not hostile to foreign founders. But it is built for domestic applicants. Non-residents fall outside the standard onboarding flow at every step. Here is where the friction accumulates.
Non-resident founders rejected at the door
Romanian banks are required by AML regulation to conduct enhanced due diligence on non-resident directors. Without a pre-prepared dossier that answers their compliance checklist in advance, most applications are declined at triage , before they reach a relationship manager.
All documentation is in Romanian
The bank's internal forms, compliance questionnaires, and account agreements are in Romanian. Submitting documents in English without certified translations , or worse, relying on machine translation , is one of the most common failure points we see.
No direct route to a relationship manager
Walk-in applications for corporate accounts at Romanian banks are almost never successful. The correct process is a warm introduction through a known intermediary who has an existing relationship with the branch's business banking team. This is exactly what we provide.
How we bridge the gap
We prepare a complete dossier , all documents translated and certified, AML questionnaire pre-filled, source-of-funds narrative drafted , and submit through a named relationship manager who knows your application is coming. This is not a service you can replicate by walking into a branch.
Process
From dossier
to active IBAN.
Eight to fourteen working days. Three steps. We handle every document, every follow-up, and every translation. You provide the information , we do the filing.
- 01Days 1–3
Dossier preparation
We build your complete bank application file: corporate KYC documents, source-of-funds declaration, AML questionnaire, certified translations, and bank-specific forms. Every document is reviewed against the target bank's compliance checklist before submission.
All documents prepared in Romanian and English.
- 02Days 4–7
Bank submission & follow-up
We submit through our relationship manager contact, not through the general walk-in queue. We brief the compliance officer in advance and handle all follow-up requests. If the bank raises additional questions, we draft the responses.
Direct relationship manager access , no queue.
- 03Days 8–14
Account activation
Once approved, we coordinate with you on initial deposit, online banking setup, and card ordering. You receive IBAN, BIC/SWIFT details, and online access within 24 hours of activation. We stay available for 30 days post-opening.
Full online banking from day one.
Remote vs in-person
Do you need to
visit Bucharest?
Some banks allow fully remote opening. Others require one in-person appointment. We tell you exactly what's needed before you commit , and arrange everything if travel is required.
Fully remote
Full video KYC , no travel required under any circumstances.
Partially remote
Application submitted remotely; final signature step requires one in-branch visit.
In-branch required
One appointment in Bucharest (typically 2–3 hours). We arrange and accompany.
Requirements
What you'll need
to provide.
We prepare all forms, translations, and bank-specific documents. You provide the underlying information and source documents. Here's what we'll ask for.
Corporate documents
- Certificate of incorporation (Trade Register) Certified
- Articles of association Certified
- Proof of registered address
- CUI (fiscal code) certificate
- UBO declaration
Director & shareholder KYC
- Valid passport (all directors and shareholders >25%) Certified
- Proof of residential address (utility bill or bank statement)
- CV / professional background summary
- PEP and sanctions self-declaration
Business & financial profile
- Source of funds declaration
- Business plan or activity description (1–2 pages)
- Expected transaction volumes and counterparties
- Last 12 months bank statements (existing company, if any)
Items marked Certified require a notarised translation or apostille. We coordinate this , you do not need to find your own translator. Certified translation fees are charged at cost and listed separately in your quote.
Banking pricing
Fixed fee.
No surprises.
One service fee covers the complete banking application process. What's included and what's excluded is listed in writing before you pay.
Bank account opening
excl. VAT · one-time · per bank application
Covers the complete dossier preparation, submission through our relationship contact, all follow-up, and 30-day post-opening support.
Check your eligibilityBundled with company formation
The banking service is included in our Standard package (€900 total). If you're forming a company with us, the banking fee is reduced , ask us about bundle pricing during your discovery call.
What's covered
Add-on items (branch accompaniment, second bank application) are quoted separately at a fixed rate. Nothing is charged without your written approval.
FAQ
Banking questions
we answer every week.
Not here? Send it to info@incorpore.ro and we'll reply within 24 hours.
How long does it take to open a Romanian business bank account?
Typically 8–14 working days from when we receive all required documents. Banca Transilvania and Libra are fastest (often 5–8 days). Raiffeisen and BCR follow a more conservative compliance process and may take 10–15 working days. Delays are rare when the dossier is submitted correctly , which is why preparation matters.
Can I open a bank account before my company is registered?
No. All Romanian banks require proof of company registration (Trade Register certificate and CUI) before opening a corporate account. This is a hard requirement , there is no pre-registration account option. Formation typically takes 5–10 days, so we can run both processes sequentially with minimal time between them.
Which bank is best for non-EU founders (e.g., UAE, US, Israel)?
Banca Transilvania and Libra Internet Bank are the most flexible on nationality. Both have experience with non-EU resident directors and have internal processes for enhanced due diligence. Raiffeisen and BCR apply stricter scrutiny to non-EU nationals , not impossible, but requiring a stronger dossier. We advise on the right bank for your passport during the discovery call.
Is a Romanian IBAN better than an e-money account (e.g., Wise, Revolut Business)?
For most professional use cases: yes, significantly. A Romanian IBAN from a regulated bank is accepted by counterparties who reject e-money accounts , including German and Austrian corporates, public sector clients, and most B2B procurement processes. It also demonstrates genuine operational presence in Romania, which matters for substance assessments.
What happens if my application is declined?
It depends on the reason. If it's a document issue, we resolve and resubmit within the same bank , usually at no additional charge. If it's a risk appetite mismatch (the bank doesn't want your industry or nationality), we pivot to an alternative banking partner. We have six relationships specifically to handle this. A second application to a different bank is charged at cost.
Do I need to visit Romania in person?
Not necessarily. Banca Transilvania and Libra Internet Bank are available fully remotely. OTP requires one brief in-branch visit. Raiffeisen, ING, and BCR require an in-person appointment in Bucharest (typically 2–3 hours). We arrange the appointment, brief you in advance, and accompany you if needed. Some of our clients combine this with a site visit to their registered office.
Check your eligibility
Are you eligible for a
Romanian account?
Tell us your nationality, business activity, and company structure. We'll confirm which banks are the right fit and what the process looks like for your specific situation , in writing, before you commit.
Eligibility check
Takes 2 minutes. We respond within one business day.