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.

Change

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.

Local RON
Very cheap university canteen
Bolt/cheap taxis
Cash for markets

Realistic monthly budget

€/month
2026 indicative

Room rental: €150–350
Food: €120–180
Transport: €10–25
Telephone + miscellaneous: €40–70
Bucharest +€50–100

Banking and payments

Bank/bank

BCR, BRD, ING, Revolut used. IBAN for rent. Low local ATM fees.

Contactless cards in the city

Taxes in daily life

Taxation

National rule

VAT included. Work: CAS and withholdings. Below threshold often simple for students.

Groceries and dining

Expense

Good for students

Kaufland, Lidl, piață. Restaurants €5–10 flat. Canteen €2–4.

First-month checklist

First month

RON account
Clear contract on întreținere
Local SIM
Extra winter budget

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

RON accounts

Romanian IBAN format; compare account packages and ATM fees.

National Bank — public info

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

ANAF

Motor third-party liability & consumer rights

MTPL insurance

Mandatory; buy from ASF-supervised insurers.

ANPC

Consumer complaints for unfair commercial clauses.

ANPC

Digital services

ANAF SPV

Secure inbox for tax documents.

ANAF

gov.ro

Central government portal and official apps.

gov.ro

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

Note

This block complements the guide with institutional entry points—not legal or tax advice.

Personal finance in Romania