This information is for general orientation only and does not constitute legal, tax or medical advice. Always verify with the official sources cited.
Finance roadmap
Arrival (neobank) → CNP + local account → Part-time job → Filings if required
Student money checklist
- Before you leave: activate Wise/Revolut; tell your home bank about the move; bring proof of funds for the visa if non-EU.
- First week: withdraw RON at a traditional bank ATM (avoid Euronet); do not keep large cash in your room.
- After CNP: open a Romanian IBAN for rent and salary; ask for English home banking.
- On a scholarship: keep the award letter and receipts — IGI may ask at renewal.
- Never: accept cash-only pay without CIM/Revisal — permit and tax risk.
Opening a bank account
- Documents: Passport, residence permit, CNP, proof of address (lease + primărie registration).
- Choose a bank: BCR, Banca Transilvania, BRD, ING, Raiffeisen — compare monthly fees and SEPA transfers.
- Sign the contract — Often in-branch; ask for English home banking.
- Romanian IBAN — RO + 24 characters; needed for salary and rent.
Banks and neobanks (quick comparison)
| Service | Pros | Cons |
|---|---|---|
| Traditional bank (BCR, BT, BRD…) | Salary, cheques, branch | More paperwork, possible fees |
| Revolut / Wise | FX, fast setup, app | Limits for some recurring local payments |
| ING Digital | Modern app | Same ID/permit requirements |
Last updated: May 2026 — National Bank of Romania
International transfers
- SEPA (EUR) — From an EU account to a Romanian IBAN: usually 1–2 business days, low fees.
- Wise / Revolut — RON/EUR exchange often better than traditional banks.
- SWIFT — From non-SEPA countries; higher fees (10–30+ EUR).
- Cash — Avoid informal transfers; declare large cash amounts at customs if applicable.
Credit history
Romania does not have a US-style credit score. For loans and rentals what matters is:
- Banking history and proven income.
- No debts to ANAF (National Agency for Tax Administration).
- References from landlord or guarantor.
Taxes for students with part-time work
| Item | Indicative rate (2026) |
|---|---|
| Income tax on salary | 10% (general regime) |
| Social contributions (CAS) | approx. 25% (employee + employer — payslip) |
| Health insurance (CASS) | approx. 10% (withheld on salary) |
| Gross minimum wage | 4,050 RON (Jan–Jun) / 4,325 RON (from Jul 2026) |
- With an employment contract the employer withholds and pays; keep your payslip.
- Freelance / PFA — Separate ANAF obligations (Declarația unică); do not confuse with simple student employment.
- Annual declaration — Many employees with one employer and no other income may not need to file; verify on ANAF.
Last updated: May 2026 — ANAF; minimum wage: HG 146/2026
Scholarships and financial aid
- Romanian government scholarships — Programmes for foreign citizens on Study in Romania (often cover tuition + living costs).
- University scholarships — Merit or need-based; university deadlines.
- Erasmus+ — If mobility from a partner EU university.
Everyday payments
- Contactless cards — Widely accepted in cities.
- Apple Pay / Google Pay — Supported by main banks.
- Utilities — Electricity/gas bills via supplier app or home banking.
Last updated: May 2026 — BNR
Next step: work hours and internships — Work guide.
Sources
Pay in euro cash at street exchange - use bank.
Quick reference
Student budget €400–650/month in many cities; Bucharest can be €550–750. Leu (RON) — favorable exchange rate for many.
Realistic monthly budget
- €/month
- 2026 indicative
Banking and payments
Bank/bank
BCR, BRD, ING, Revolut used. IBAN for rent. Low local ATM fees.
Taxes in daily life
Taxation
VAT included. Work: CAS and withholdings. Below threshold often simple for students.
Groceries and dining
Expense
Kaufland, Lidl, piață. Restaurants €5–10 flat. Canteen €2–4.
First-month checklist
First month
Deep dive (optional)
Go deeper
Operational detail and official links—amounts and deadlines change; always confirm on the competent portal before filing or paying.
Banking basics
SEPA
Euro transfers depend on bank product; mind FX for RON/EUR.
Taxes & filings (headline)
- Payroll withholding via employer
- Self-employment: Unique Declaration where applicable
- Capital gains / crypto: follow ANAF guidance for the relevant year
Motor third-party liability & consumer rights
Digital services
Post-arrival checklist
EU/EEA
- Address registration
- Bank + phone
- CNAS registration if you leave EHIC coverage
Non-EU
- Valid permit + copies
- Tax identifiers when issued
- SPV if you have local tax duties
This block complements the guide with institutional entry points—not legal or tax advice.