Fees for payments to Romanian banks and state treasury accounts


#1

Does anyone with a Revolut for Business account have experience with monthly recurring payments to Romanian banks (e.g. ING, Banca Transilvania, etc.) and state treasury accounts (e.g. Trezoreria Statului - Bugetul de stat) from an USD Revolut account?

Having a business I need to make monthly transfers like salaries (to RO banks), income fees (to Treasury accounts), and I’d like to know if there are any fees associated with these transfers and how much. These transfers will convert from USD to RON (Romanian Lei) as I’ll have USD in the Revolut account.

I don’t know if these transfers can be made through SEPA or will they go through SWIFT or other method which incur extra fees. I don’t know even if SEPA is possible for transfers to state treasury accounts.


#2

I have a personal premimum account and have transferred RON to romanian banks with no fees. The transfers are ususally taking 2 days.
I have also transffered EUR into a romanian bank and the money arrived within the day.


#3

@clns , you will need to apply for a RON account on Revolut then transfer the salaries into the RON Banks (there shouldnt be fees as long as wired on SHA basis). It depends on the bank of the employee.

Regarding tax payments to Trezorerie, you won’t be able to wire it from Revolut because of the fiscal identification number which needs to be provided in the payment system (that is possible only through a romanian bank trasnfer). The solution for this problem would be to open an account with either ING or BT in Romania, transfer the amount from Revolut into your ING account and wire from there the taxes to fiscal authorities.


#4

I think business accounts are different than premium accounts, especially because of unique IBANs. Thanks for your input though.


#5

I was able to successfully transfer the salaries into a romanian ING account without any problems or fees, without the advanced onboarding.

Will look into the treasury transfers more.

Thanks.


#6

@clns , salaries are fine to wire. Just the payments for vat // profit tax (impozit) // social contributions can’t be wired from Revolut into the Treasury accounts. You need to do that from a local ING account


#7

Yeah, this sucks because this is what I am trying to get away from :slight_smile: