ompanies have to make payments or receive cash only only by non-cash payment instruments, according to current legislation, but there are a number of exceptions to this rule. When making or accepting cash payments, businesses must respect certain thresholds, failure to comply with which can result in fines of thousands of lei.
According to the website of the National Bank of Romania, payment instruments are:
- credit transfer,
- direct debit,
- payment card,
- 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.
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.