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Online Payments

Romanian banks to launch instant payments in local currency

Monday 14 May 2018 | 08:42 AM CET

Several Romanian banks have started testing the instant payment system, which would allow instant money transfers from one account to another.

The facility of transferring money from one bank to another may be available for customers starting the fall of 2018, according to the Romanian Banks Association (ARB) cited by Romania Insider.

Instant payments allow customers to move their money faster from one bank to another, which is useful in making emergency payments and paying the employees’ salaries. Companies will even be able to pay their employees’ salaries during the weekend.

The limit for instant payments will be EUR 15,000 or RON 50,000, banks having to upgrade their infrastructure in order to join the system.

More: Link
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