Between individuals, Law 70/2015 caps cash payments at 50,000 lei per transaction and prohibits splitting a larger one.
Anyone entering or leaving the EU with €10,000 or more in cash must declare it.
Under Law 129/2019, Romanian banks and notaries are reporting entities and may ask to see the source of funds.
Where the money goes, a source-of-funds file, rate comparison, a precise transfer in the buyer's name, and keeping the SWIFT confirmation.
The SWIFT confirmation proves the money left. The notary and seller will want to see the price was paid by bank transfer.
Transferring money to Romania: the short answer
To buy property in Romania you move the money by international bank transfer, from an account in your own name to the account named in the contract: the project's dedicated account, or the account the seller and notary specify. Cash is practically irrelevant: in Romania, cash payments between individuals are capped at 50,000 lei per transaction, and anyone entering the EU with €10,000 or more in cash must declare it. What decides whether the transfer goes smoothly is your source-of-funds paperwork and the exchange rate.
The first question investors ask me after choosing a villa is not about the flooring. It is "how does the money get there?"
It is a good question, because transferring money to Romania is the part of the deal where it is easiest to lose money quietly: a fee here, a poor rate there, and a transfer held for a week of bank checks just before the signing date.
Why this is not "just another bank transfer"
Three things make this transfer different from an ordinary payment:
- If you are sending from outside Europe, you are probably outside SEPA, the European payments area. Israel, for example, is not part of it. A transfer from a bank there to a Romanian bank is an international (SWIFT) transfer, with a fee at the sending bank, sometimes an intermediary bank fee, and sometimes a fee on the receiving side.
- The amounts are large. Moving tens or hundreds of thousands of euros triggers anti-money-laundering checks on both sides.
- In Romania, everyone in the transaction has to check. Under Law 129/2019 on preventing money laundering, both banks and notaries are reporting entities, and they may ask you to show where the money came from. Reports go to the National Office for the Prevention and Control of Money Laundering (ONPCSB).
In practice: the transfer starts with a document file, not with the bank's form.
From the field: when the money is “too clean to be true”
Attorney Ilan Leibovitch recalls:
A branch manager at a bank in Bucharest once asked me whether the money of three of my clients was legal. They were Israeli entrepreneurs with entirely legitimate businesses, trying to transfer funds to buy a residential project in Romania. No crazy sums, and nothing suspicious.
Five years ago, in a deal elsewhere in Europe, we showed basic documents on the source of funds and the bank approved the transfer within hours to a few days. Today I prepare a file of 200 to 300 pages for every deal, sometimes tracing the money back a decade: 12 to 24 months of bank statements, an explanation for every significant deposit, an accountant’s confirmation of the source of funds, and sometimes tax authority certificates and notarised affidavits. One client had to explain a deposit of ILS 800,000 into a savings plan. He had sold an apartment in Tel Aviv, but the bank also asked for the sale contract, an accountant’s confirmation and even the buyer’s accountant’s report.
My advice: start organising the documents three to six months before you find a property, and be completely transparent, including about “embarrassing” things such as a loan from family.
A transfer to Romania is not judged by the amount alone. It is judged by the story behind it, which is why preparing the document file is the step that comes before any transfer.
Cash limits and declaration rules: the table
| Situation | What the rule says | Source |
|---|---|---|
| Cash payment between individuals in Romania | Up to 50,000 lei per transaction; splitting a larger one is prohibited | Law 70/2015 |
| Entering or leaving the EU with cash | Declaration required from €10,000 | EU Regulation 2018/1672 |
| Leaving Israel via Ben Gurion airport with cash (Israeli residents) | Report required from 50,000 shekels (12,000 at land crossings) | Israeli anti-money-laundering law, Form 84 |
| Bank transfer | No cap under these rules, but a source-of-funds check | Bank procedures |
The EU declaration duty is set by EU Regulation 2018/1672. On the Israeli side, the report is made on the Israel Tax Authority's Form 84 (page in Hebrew). Romania's cash cap is set by Law 70/2015, available on the Romanian legislation portal.
Three rules are enough: money from your own account, to the account in the contract, with the source-of-funds file ready in advance.
Put simply: cash is not a way to buy property in Romania. A bank transfer is.
5 steps to a smooth transfer to Romania
- Confirm where the money goes. When buying from a developer, under Law 207/2025 advances go into a dedicated project account, with caps by construction stage. Take the account details from the preliminary contract, not from an email or a chat message. We explain the protection that account gives you in our article on how your money is protected off-plan.
- Build your source-of-funds file. Bank statements, the sale contract of a property at home, a mortgage approval, or a family gift letter. Anything that explains the amount, before the bank asks.
- Choose how to convert. You can convert to euros at your bank and send euros, or send from an existing foreign-currency account. Compare the rate you are offered with the daily reference rate of the National Bank of Romania (BNR) and, from Israel, the representative rate of the Bank of Israel. The gap is your real fee.
- Send a precise transfer. The payer's name should match the buyer in the contract, exactly as in the passport. In the reference field, write the contract number and the villa or apartment number.
- Keep the SWIFT confirmation (MT103). It proves the money left your account, and the notary and seller will want to see that the price was paid by bank transfer.
Euros or lei: which currency do you pay in?
Romanian property prices are usually quoted in euros, but Romania's official currency is the leu. Romania has not yet adopted the euro.
In practice, if the contract is in euros, you send euros. Taxes, fees and the notary's fee are calculated in lei, at the central bank's reference rate.
If you take a mortgage, you also choose the loan's currency. We compare the options in our article on euro vs lei mortgages.
Do you need a Romanian bank account?
For the purchase itself, not always. You can transfer from your bank at home directly to the account in the contract.
After the purchase, a local account saves a lot: local property tax, electricity, gas, internet and the management company. Without one, every small payment becomes an international transfer with a fee. On opening an account as a non-resident, see our guide to a bank account in Romania. Either way you will need a Romanian tax identification number, the NIF.
The mistakes I see most often
- Paying from a relative's or a company's account. If you are the buyer in the contract, the money should come from your account. Otherwise you open a source-of-funds question.
- Account details from an email. Fraud where someone impersonates the seller and sends a "new account" exists everywhere. Verify by phone with a known contact, and compare with the contract.
- Last-minute transfers. A large international transfer can be held for review. Leave a few days of margin before the signing date.
- Ignoring the rate. A small gap in the rate on a large sum is worth more than any fee.
In our project in Balotești, the price is quoted in euros and is all-inclusive, and payments under the preliminary contract go into the project's dedicated account. But the rules in this article are worth applying to any deal, with us or with any other seller.
Frequently asked questions
Can I pay for a property in Romania in cash?
Practically no. Between individuals, Law 70/2015 caps cash payments at 50,000 lei per transaction and prohibits splitting a larger one. When buying from a developer, advances go into the project's dedicated account under Law 207/2025, meaning by bank transfer.
How much cash can I carry to Romania?
There is no ban, but there are declaration duties. Entering or leaving the EU, you declare €10,000 or more. Israeli residents leaving via Ben Gurion airport also report 50,000 shekels or more on Form 84. For buying property, cash is not the route.
Which source-of-funds documents will I be asked for?
Usually whatever explains the amount: bank statements, a property sale contract, a mortgage approval or a gift letter. Banks and notaries in Romania are reporting entities under Law 129/2019, so prepare the file in advance.
Which exchange rate should I use?
Compare the rate your bank offers with the daily reference rate of the National Bank of Romania and with your own central bank's rate. The difference is the real fee, and on large amounts it matters more than the transfer fee itself.
Do I need a Romanian bank account to buy?
Not always. You can transfer directly from your bank at home to the account in the contract. A local account is useful after the purchase, for local tax, utility bills and management.
The bottom line
Transferring money to Romania is not the exciting part of the deal, but it is the part where a small mistake costs the most.
Three rules are enough: money from your own account, to the account in the contract, with the source-of-funds file ready in advance. And above all, no cash.
If you are planning your first transfer, with us or for any other purchase in Romania, book a 30-minute call with me. We will go through the payment schedule, the documents and the checks, so that on signing day the money is already where it needs to be. If you are still building your budget, start with our guide to property buying costs in Romania.
Moti Azulay, Compass Group Romania
Sources and data: Romanian legislation portal (Law 70/2015, Law 129/2019, Law 207/2025) · National Office for the Prevention and Control of Money Laundering (ONPCSB) · EU Regulation 2018/1672 · Israel Tax Authority, Form 84 (in Hebrew) · National Bank of Romania (BNR) · Bank of Israel.
This article is for general information only and is not legal, tax or financial advice. The rules are correct as of 2026 and may change. Before a significant transfer, consult your bank and a local lawyer.
Now you know more.
This article is general information, not legal, tax or financial advice. Consult local professionals before any transaction.
