According to the website of the National Bank of Romania, payment instruments are:
- credit transfer,
- direct debit,
- payment card,
- cheque,
- bill of exchange
- and promissory note.
Cash transaction limits apply to companies, authorised natural persons, sole proprietorships, family businesses, self-employed persons, self-employed individuals and associations or other entities with or without legal personality.
Cash transaction limits
There are a number of exceptions to the above rule and allows cash receipts or payments, but under the following conditions:
- cash receipts – up to a daily limit of 5000 lei from one person;
- cash and carry shops cash receipts – up to a daily limit of RON 10000 from one person;
- payments – up to a daily ceiling of 5000 lei/person, but not exceeding a total ceiling of 10000 lei/day;
- payments to cash and carry shops – up to a total daily ceiling of 10000 lei;
- payments from advances for settlement, up to a daily ceiling of 5000 lei, set for each person who has received advances for settlement;
- cash receipts from individuals, representing assignments of claims, receipt of loans or other financing, as well as the value of supplies of goods or services are made – within a daily ceiling of 10000 lei from one person.
Penalties for Non-Compliance
Failure to comply with the provisions of Law 70/2015 may be considered an administrative offense or a criminal act, depending on the circumstances. The Ministry of Public Finances or the National Agency for Fiscal Administration can impose fines ranging from RON 100 to 10% of the cash amounts that exceed the prescribed limits.
Additional restrictions on cash transactions
Fragmenting of cash payments is also widely prohibited and in most cases the limits are 5000 or 10000 lei.
Cash transaction ceilings are also applied to foreign currency receipts and payments made in Romania.
Companies in Romania are required to make payments to local partners in RON through the Romanian banking system. Banks actively monitor and may block transactions conducted in foreign currencies.
