How to send money to Romania
Discover how to send money to Romania with the lowest fees and best rates in four easy steps
1. Check the RON exchange rate against your own currency
Making your transfer at the right time means more money arrives. You should subscribe to our smart alerts to check the RON mid-market's evolution.
2. Select the optimal deal by comparing all providers.
Monito compares many providers to send money to Romania, such as TransferGo, TransferWise, Western Union, MoneyGram, Currencies Direct. Picking the right service from the more than 30 available options is a sure way to save money.
3. Pick the best money transfer company with your own criteria
What is the most important for you? Exchange rate and fees, speed of the transaction, customer ratings? Consider the different criteria before deciding which provider to use.
Another important aspect is to have a look at the pay-in and pay-out options. Local bank transfer, debit and/or credit cards are the most often available pay-in options to send money to Romania online. At the other end, in Romania, you often have to decide if you want the converted amount to be sent directly to the recipient's bank account or be available for cash pick-up.
4. Sign up and get started wih your transaction to Romania with the money transfer provider of your choice
Now, simply sign up on the provider's online portal - be aware you will often need to give an ID document and/or a proof of adress - and provide the details of your money transfer to Romania.
Which provider should you use for transferring money to Romania?
Thankfully, gone are the days when the only options to send money to Romania were an expensive bank transfer (banks take huge margin on the exchange rates) or an equally expensive cash transfers via an old-fashioned money transfer branch.
There are now a lot of solutions to send money to Romania, whether you need the money to arrive on a bank account, in cash or on a mobile wallet. The cheapest solution will be to use one of the online providers offering low-cost transfers to bank accounts in Romania. Companies like TransferGo or TransferWise (website not available in romanian) are available from a lot of countries and act as intermediary to convert your money at the best exchange rate before sending it to Romania.
If you need the money to arrive in cash, Azimo and Worldremit (website not available in romanian) cover almost all Romanian cities and offer very competitive rate. Western Union remains a valid solution for many transfers towards cash, especially if you need the money to arrive quickly.
Find out which provider offers the best exchange rate and lowest fees for your next money transfer to Romania
Depending on the definitions, we are between 4 and 12 million Romanians living outside Romania. The largest Romanian Diaspora is in Italy, followed by Spain, Germany and the United States.
Many of us still have family, friends or businesses in Romania which means we regularly send money back to Romania. Comparing which providers will give you the best rates to exchange your money into Leu (RON) and offer the lowest fees can help you save a lot of on your next money transfer. Use the above form to find which solution is the best for you.
What information do you need to send money to a bank account in Romania
IBAN (ex. RO49 AAAA 1B31 0075 9384 0000)
The IBAN (International Bank Account Number) is an international norm for identifying bank accounts.
Name of the recipient
The name of the recipient's bank account's holder.
All banks in Romania are part use the IBAN system to identify bank accounts and facilitate transfers from abroad. This means in most cases, you won’t need to have the SWIFT/BIC information of the recipient’s bank account.
With most of the providers we compare on Monito, the only information you will need from the recipient to make a transfer is their full name and IBAN number.
While not yet in the Eurozone, Romania is also part of SEPA (Single Euro Payment Area), which facilitates EUR-EUR transfers if you have a bank account in Euro in Romania.
There are around 30 banks operating in Romania. As a general rule, all the banks and providers on Monito will be able to send money to all banks in Romania.
If you use one of the money transfer providers we recommend on our platform, the transfers to the recipient’s bank will be a local transfer (unless stated otherwise), meaning no fees will be applied by the receiving bank. In the contrary, if you make a direct bank transfer (which we do not recommend) using the “share cost” option (SHA), the receiving bank will generally charge you additional fees.