Revolut Introduces Romanian IBANs for Local Customers

Revolut introduces Romanian IBANs, bringing financial services closer to home for its users. Customers in Romania can now enjoy streamlined banking through Revolut’s newly established Romanian branch, offering updated RO IBANs for salary deposits, bill payments, and direct debit transactions.

All eligible Romanian customers will receive an updated Romanian IBAN (RO IBAN) as part of the transition. Users should share their new IBAN details with employers, service providers, and anyone sending them payments to ensure smooth transactions. Revolut sends email and in-app updates to customers after migrating their accounts.

Customers must reside in Romania and provide the necessary documentation to qualify for migration. The migration process will occur gradually over the next few months. Customers who have not migrated by December 14, 2024, will still receive a Romanian IBAN, with migration to follow later.

From December 14, outgoing transfers using old Romanian IBANs will no longer be possible. However, Revolut will redirect incoming payments sent to old IBANs to the new account until December 31, 2024. After this period, the sender will receive funds sent to deactivated IBANs within 3–5 business days.

Revolut Introduces Romanian IBANs for Local Customers

• Customers can receive salaries directly into their Revolut accounts.
• Direct debit options are available for RON and EUR payments.
• Access to existing account history and transaction statements remains intact.

Businesses incorporated in Romania will also receive new RO IBANs. This update aims to meet the growing financial needs of local retail and business clients while expanding Revolut’s product offerings.

Revolut assures that existing bank cards will continue functioning seamlessly, and deposits will remain protected under the Lithuanian Deposit Guarantee Fund, covering up to EUR 100,000.

Gabriela Simion, General Manager of Revolut Bank UAB Romania, emphasized the company’s commitment to ensuring a smooth transition despite the complexity of the migration process. With over 4 million customers in Romania, Revolut aims to enhance banking experiences while maintaining compliance with local regulations. Customers are encouraged to check their app notifications and emails for further details.

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