If you’re looking for the best deal when sending money to Romania, you’ve come to the right place. Keep reading to discover:
- How to get the best exchange rates and pay the lowest fees.
- How to send large amounts of money to Romania.
- What information you need to make a transfer.
Romanian diaspora around the world
From London to Sydney, Romanians have been settling down and bringing their unique culture to other countries for decades now. All this means there’s a continuing demand for remittance services to send money to loved ones.
Remittances in Romania
The official currency of Romania is the Leu, represented by the “RON” abbreviation or the “L” symbol. Thanks to modern technology, there are now several options for sending remittances to Romanian bank accounts or cash pick-up locations all over the country, including Brasov and Bucharest.
In Romania, remittances in other currencies such as euros (EUR) and US dollars (USD) are also popular. Regardless of which currency your recipient gets, it’s essential to know the best ways to send it.
Get the best exchange rates when you send remittances to Romania
Exchange rates are an essential part of every money transfer. A good rate makes a massive difference to the amount of Leu transferred to your recipient. Azimo’s rate alert feature will tell you when exchange rates are at their best, i.e. the ideal time to transfer.
So imagine you’re sending money from the UK to Romania and £1 = 5.78L. If that’s not to your liking, you can set up an alert for when £1 = 6L. That way, you’ll be ready to make a transfer when you get your ideal exchange rate.
Pay the lowest fees on money transfers to Romania
Great exchange rate? Check. So what’s next?
Well, you’ll need to complement your rate with a low fee to get the cheapest money transfers. However, when shopping around for low fees, always consider the transfer’s overall cost.
That’s because many banks and transfer companies love to advertise tempting “zero-fee” transfers. Usually, offers like these are hiding poor exchange rates. And when you accept an unfavourable exchange rate, the provider pockets the difference.
Read our article about the mid-market rate to understand how this works.
Find out the actual cost of a money transfer by doing a bit of research. Sometimes you’ll discover that paying a small fee actually gets you a better overall deal.
Transfer money to Romania securely
When you’re sending money to Romania, use a trusted money transfer service.
Protect your money by choosing money transfer providers with 3-D Secure technology systems. Innovative technology such as Verified by Visa and CyberSource means your transfer is always in safe hands.
Send money to Romania with Azimo
When it comes to transferring money online to Romania, Azimo is a market leader in terms of cost, speed and safety.
Unlike some of its main competitors, Azimo’s pricing structure is clear and straightforward. You always get a great exchange rate and only pay a single, low, transparent fee. That means you’re usually getting the best overall deal compared to banks and other providers.
What information do you need to send money to Romania with Azimo?
You can send money to Romania with Azimo by either bank deposit, SWIFT transfer or cash pick-up. To transfer money to Romania, you’ll need your recipient’s:
- Full name.
- Home address (SWIFT transfers only)
- IBAN number (SWIFT only).*
*Your recipient can find their account IBAN on a bank statement or online banking.
|Top tip: Every country’s IBAN structure is different, but it always starts with a 2-digit country code. Romania’s code is RO.|
How to send large sums of money to Romania
If you’re sending a large payment like a house deposit, send it with Azimo.
When you register with Azimo, your first two transfers (five for Azimo Business) are fee-free. The first of your fee-free transfers also comes with a special, introductory exchange rate. All this makes your first transfers the perfect time to send lump sums to Romania.
After that, use the award-winning Azimo app to set up currency alerts for the Leu, so you always know the best times to send money.