The Romanian banking system - online banking and charges
The banking system in Romania is not there yet. As an example, the on-line banking system, so well known and used by most Europeans, is still in its early stages in Romania. According to the GFK Group, only 1% of the Romanian users of financial services use the internet banking. The lack of online banking services is caused by the low penetration of Internet services in Romania, particularly amongst the older segment of the population, and is fuelled by fears of computer and Internet hacking.
The Romanian banks charge for any transfer of funds between (Romanian) banks. Further, under certain circumstances, banks will charge even for withdrawal of funds. Finally, bank transfers between Romania and other countries incur further charges - some of them unfortunately set as fixed charges per transaction, regardless of the amount of money being transferred.
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Posted: September 2nd, 2006 under Law & finance.
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