Banca Transilvania S.A.
Calea Dorobanților 30-36, Cluj-Napoca, Jud. Cluj
J1993004155124
EN 5022670
R.B. - P.J.R. 12 - 019 - 18.02.1999
SWIFT: BTRLRO22
Subscribed and paid-up share capital: 9.168.798.460 lei
Useful information
GEO 50/2010
We also inform you that, starting with 21.06.2010, the Government Emergency Ordinance 50/09.06.2010 on credit agreements for consumers has entered into force, a normative act transposing into Romanian legislation the provisions of European Directive no. 2008/48/EC.
We invite you to consult the updated form of the documents listed above, as well as the credit agreements related to the credit line facility granted in the current account of the individual (overdraft) and credit cards for individuals, by accessing the links below, or in any Banca Transilvania unit. We take the opportunity to inform you that a copy of the above-mentioned contracts you will receive - free of charge - in any Banca Transilvania location.
For further information, we are waiting for you in any Banca Transilvania unit or we are at your disposal at the e-mail address contact@bancatransilvania.ro.
Law 258/2017 (Comparability of fees, account mobility and access to banking services for financially vulnerable people)
From 27 January 2018, Law 258/2017 enters into force, which deals with 3 aspects: the comparability of fees, the mobility of accounts and access to banking services for financially vulnerable people.
1. In Banca Transilvania, it will be applied as follows: for individual customers, with a clear distinction between:
- Financially vulnerable persons - defined as those persons whose monthly income does not exceed the equivalent of 60% of the average gross wage in the economy, as forecast in the latest macroeconomic forecast in the fall, or whose income does not exceed this threshold for 6 consecutive months. This means a gross income of 5,172 lei/month.
- The rest of the individual customers.
2. A new terminologyis introduced:
- The current account is referred to as the "payment account";
- The services available through the payment account are divided into:
- Basic services: (a) opening, administration and closing of payment account; (b) depositing funds; (c) cash withdrawals; (d) payments.
- Other services.
3.Separate fee rules for the basic services payment account applicable to financially vulnerable individuals.
4. Competent authority empowered to ensure the application and enforcement of the law: ANPC.
5.Current account mobility procedure: additional operations/ actions/ documents to be used, completed and transmitted between the parties.
- Account switching or account switching service shall mean thetransfer from one bank to another bank, at the request of the individual customer, of either the information relating to all or some of the scheduled payment orders for credit transfers, recurring direct debits and recurring credit transfer receipts executed on a payment account, or of any positive balance on the payment account from one payment account to another or both, with or without closing the old payment account. If a customer requests such a service, he/she has to complete a dedicated request with the bank to which he/she wishes to transfer the account, after which the receiving bank contacts the bank where the account was originally opened and requests specific information to process the request.
SEPA
Starting with October 31, 2016, Banca Transilvania implemented the SEPA regulations, regarding foreign exchange payments.
SEPA= Single Euro Payments Area (Zona Unică de Plăţi în Euro)
Context:
- starting with July 18, 2016, Banca Transilvania receives receipts in EUR through the SEPA system;
- starting with October 31, 2016, Banca Transilvania transmits through EUROSENT all SEPA payments in EUR and STEP2 all SEPA payments in EUR.
1. What is a SEPA payment?
The SEPA payment is that payment which:
- is in EUR;
- it is ordered in "normal" mode (i.e. without urgency);
- has as a beneficiary bank a bank from one of the 32 countries in the SEPA area (the list of countries is detailed at the end of this FAQ).
Any payment satisfying these conditions will be settled through a special system, without going through correspondence banks.
2. Is there a minimum/maximum limit on the amounts paid through SEPA?
Not.
3. Will it still be possible to make urgent payments, in eur, in SEPA countries, under SHA commissioning regime?
Yes, however, they will not be classified as SEPA payments and will be settled through a different system than payments subject to SEPA regulations.
4. What are the main milestones of a BT SEPA payment?
- Currency date T+1, i.e. the money goes to the beneficiary's account the next business day. If a customer needs the money to reach him on the same day, he will make a currency payment with urgency, just like now, which will go through the swift settlement system, with correspondent banks.
- Because there are no more correspondence banks in the SEPA settlement, the correspondent bank fee will no longer be withheld for these payments.
- It's ordered with SHA, because the legislation can't be otherwise;
- The Eur clearing system of Transfond is used: EUROSENT;
5. Are there any differences from the market?
No, because the legislation is the same.
6. What happens to currency payments ordered by customers through BT 24 or BT Ultra?
Those payments that qualify as SEPA will be automatically settled through the EUROSENT and STEP2 system.
There is a legal constraint of the type of file to be used by customers who import files, but these are particular cases, we have few customers and all will be contacted separately.
7. What are the regulated characteristics of SEPA payments?
- payment processing is done automatically, without manual intervention
- mandatory identification elements: IBAN codes for customer accounts and BIC codes for the identification of payment service providers
- the currency of the payment is the euro
- the beneficiary is located in one of the 32 countries in the SEPA area
- the payer's account can be opened in euros or in another currency, when the payer's bank offers automatic currency conversion services
- the payment amount must be fully credited to the beneficiary's account
- there is no limit to the amount of the payment
- the maximum settlement term is one business day
- the standard for payment messages is the UNIFI ISO 20022 (XML) Credit Transfer standard
8. What is the legal framework governing these payments?
- Law nr. 209/08.11.2019 on payment services and for the amendment of certain normative acts
- Regulation (EU) No .../... ANRE President's Order no. 260/2012 establishing the technical and commercial requirements applicable to credit transfer and direct debit operations in euro, as well as other internal regulations in force
9. Which are the countries in the SEPA area:
The Member States of the European Union:
- Euro area countries: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Spain and Slovenia
- Non-euro area countries: Bulgaria, Czech Republic, Denmark, Latvia, Lithuania, Hungary, Poland, Romania, Slovakia, Sweden
- Member States of the European Economic Area (EEA): Iceland, Liechtenstein, Norway
- Non-member countries of the European Economic Area: Switzerland, Monaco and the United Kingdom
Sepa will be extended to the following territories, considered as part of the European Union (Art. 299 Treaty of Rome): Martinique, Guadalupe, Guiana Franceza, Reunion, Gibraltar, Azores, Madeira, the Canary Islands, Ceuta and Melilla and the Aland Islands.
Whistleblowing
This reporting channel is not intended for commercial complaints, which are processed through separate dedicated channels in accordance with current regulations.
The dedicated reporting platform (available by accessing the website https://bancatransilvania.whistlelink.com) allows TDBFG staff and non-TDBFG individuals to communicate information obtained in a professional context, with the purpose of preventing the materialization of potential events or to disclose details of events that have already materialized, which relate to the conduct of TDBFG's business and/or the management of its entities or territorial units and which constitute violations of internal regulations and/or legal provisions, including the legal provisions set out in Annex 2 of Law 361/2022;
All reports are handled in a confidential manner and in accordance with current regulations.
Persons making a report are granted protection against the risk of reprisals, as provided for by the legislation in force.
Any abuse of the whistleblowing system may expose the person reporting to disciplinary sanctions or criminal prosecution. However, using this system in good faith will not expose the reporter to any sanction, even if the facts are later found to be inaccurate or do not give rise to any prosecution. For any further details, please refer to GFBT's Whistleblowing Policy (available here).
I confirm that I have read and understood the information on the GFBT warning channel and personal data protection.
FATCA CRS Guide
Broadly speaking, the FATCA - CRS legislation obliges Banca Transilvania to correctly establish the tax residency of its customers, account holders (both individuals and entities). Going further, Banca Transilvania is obliged to report to ANAF relevant information on financial accounts held by persons who are not tax resident in Romania.
Thus, Banca Transilvania, together with all other financial institutions in Romania, is obliged to analyze the financial accounts it manages and to apply tax due diligence measures to identify reportable accounts held by persons resident for tax purposes in the USA, the European Union or other countries signatory to the CRS agreement. For accounts identified as reportable, the Bank reports the relevant information to the Romanian tax authorities. As a next step, the Romanian tax authorities distribute this information to the foreign authorities whose residents appear in the financial institution's reporting.
As Banca Transilvania complies with the legislation in force, it has implemented a series of forms whereby its customers provide information on their tax residency and tax identification number, and Banca Transilvania will apply reasonableness tests on the tax information submitted by its customers.
What is FATCA?
FATCA is an acronym for the "Foreign Account Tax Compliance Act" issued by the US authorities. The FATCA requires financial institutions registered outside the US to identify information on customers and business partners to determine whether they meet the criteria to be reported to the Internal RevenueService (IRS).
Banca Transilvania has registered with the Internal Revenue Service as a participating institution with the status Registered Deemed Compliant FFI - Lead of an Expanded Affiliated Group. Banca Transilvania's Global Intermediary Identification Number (GIIN) is 4ID1WZ.00000.LE.642.
Also, in order to validate the status of FATCA participating institution, Banca Transilvania provides its partners with the completed W8-BEN-E form.
What is CRS?
Similar to FATCA, the CRS (Common Reporting Standard) is a global standard on the automatic exchange of information between tax authorities on financial accounts. The CRS framework allows the tax authorities of signatory countries to receive information about financial assets held in other countries by their residents, and is implemented at the initiative of the OECD.
What is GIIN?
GIIN(Global Intermediary Identification Number) is a global identification number assigned to a financial institution located outside the United States that proves that it is a FATCA participating institution.
What is tax residence?
It is a concept used to determine the competence of a country to tax the income of its tax residents. As a general rule, for individuals, tax residence is linked to the country of domicile/residence or center of vital interests. For legal persons, tax residence is linked to the country of registration/organization or place of effective management. Each jurisdiction has its own rules for defining tax residence and, in special circumstances, it is possible for a person to have more than one tax residence.
In particular, if an individual has a residence permit (temporary/permanent) in a country, it does not automatically mean that he/she is tax resident in that country, as tax residence is not determined by the country of employment or the country where the payroll tax is paid.
Diplomats, government officials and military personnel are generally tax residents in the jurisdiction of the country they come from.
Specifically, in the case of Romania, the determination of tax residency for individuals is carried out by ANAF on the basis of the criteria for determining tax residency in Romania, detailed in the material on the ANAF website"Guide for determining tax residency".
If the client does not have the documents and does not know his tax residency status, more information can be found on the ANAF website in the"FATCA CRS Guide".
Based on internal policies, Banca Transilvania cannot provide tax advice. Thus, in case of any unclear questions regarding the determination of tax residency or the completion of data in the Bank's FATCA CRS forms, please contact a tax consultant.
What is a tax identification number (TIN)?
TIN/TIN means a tax identification number or its functional equivalent, consisting of a unique combination of letters or numbers assigned by a jurisdiction to an individual or entity and used to identify the person for the purposes of the tax laws of that jurisdiction. In the case of Romania, the NIF issued by the authorities is the CNP in the case of natural persons and the CIF (tax identification code) in the case of legal entities.
The Organization for Economic Co-operation and Development (OECD) provides taxpayers with a country-by-country guide to help them correctly and easily identify TINs.
Why is the Tax Identification Number (TIN) important?
What are the obligations of Banca Transilvania's customers in terms of FATCA/CRS legislation?
In order to fulfill the FATCA/CRS requirements, Banca Transilvania requires all customers, both at the opening of the business relationship and subsequently during the course of the relationship, to declare the residence for tax purposes and the tax identification number (NIF/TIN) of the country of tax residence, both for account holders and for persons exercising control over passive entities. The purpose of the tax residence declaration is to establish which accounts are subject to FATCA/CRS reporting. As defined in the "Glossary of terms" section below, a reportable account is a financial account managed by Banca Transilvania and held by one or more reporting person(s) or a passive entity with one or more reporting and controlling person(s).
As a rule, a passive entity is a legal entity that earns more than 50% passive income and is not a financial institution. In general, a passive income is considered to be income obtained without the direct and continuous involvement of the person, i.e. from dividends, interest, rents, insurance, real estate, etc. In order to facilitate the identification of the category to which customers belong, ANAF has published on its website the list of CAEN codes that identify a potential passive entity or financial institution.
Going further, Banca Transilvania applies tests on the reasonableness of information reported by its customers to ensure accurate and complete reporting. In the event of a statement that fails the reasonableness test, Banca Transilvania endeavors to obtain a valid affidavit or reasonable explanation and related documentation.
Customers also undertake to immediately inform Banca Transilvania of any change in circumstances that affect their tax resident status or that cause the information initially declared or during the data update procedures to become incorrect or incomplete.
What are the legal provisions under which Banca Transilvania applies FATCA/CRS tax due diligence?
The legal basis for applying due diligence measures and reporting information on non-resident taxpayers' accounts is:
- Council Directive 2014/107/EU of December 9, 2014 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation (DAC 2), transposed into Law No 207/2015 on the Code of Fiscal Procedure, with subsequent amendments and additions;
- Multilateral Competent Authorities Multilateral Agreement for Automatic Exchange of Information on Financial Accounts, ratified by Law No 70/2016 (CRS);
- Agreement between Romania and the United States of America to improve international tax compliance and to implement FATCA(FATCA Agreement), ratified by Law no. 233/2015;
- Order of the President of ANAF no. 503/2016 in view of the publication of the Understanding between the competent authorities of Romania and the United States of America on improving tax compliance and FATCA implementation;
- Order of the President of ANAF no. 1711/2022 for the approval of the model and content of the forms used by the reporting financial institutions in order to fulfill the obligations set out in Art. (1) and Art. (4) of Law no. 207/2015 on the Fiscal Procedure Code;
- ANAF Guide on the obligation of reporting financial institutions to provide information for the financial accounts of non-resident taxpayers (DAC2/CRS/FATCA);
- Other relevant material DAC2 CRS FATCA published on the ANAF website: Useful information ANAF.
What information does Banca Transilvania report to the tax authorities?
In accordance with the legal provisions (Code of Fiscal Procedure), Banca Transilvania shall report to the competent authority in Romania the following information on each account subject to reporting:
- Data to identify the customer concerned: name, address, country of residence for tax purposes, tax identification number (TIN) and date and place of birth (in the case of a natural person) of each person subject to the reporting. In the case of an entity that is an account holder with one or more controlling persons that are reporting persons: the name, address, country of residence and tax identification number (TIN) of the entity, and the name, address, country of residence, tax identification number (TIN), date and place of birth of each reporting person.
- Account number (e.g.: IBAN/ISIN).
- The balance or value of the account as at the end of the relevant calendar year or other appropriate reporting period or, if the account was closed during the relevant year or period, the closure of the account.
- For custody accounts:
a) The total gross amount of interest, total gross amount of dividends and total gross amount of other income generated in relation to the assets held in the account, in each case paid or credited to the respective account;
b) The total gross proceeds from the sale or redemption of financial assets paid or credited to the account during the calendar year or other appropriate reporting period in relation to which Banca Transilvania acted as custodian, broker, representative or any other kind of agent for the account holder.
- For any deposit account, the total gross amount of interest paid.
General business conditions
In short, the CGA October 2025 changes
On the individuals' side:
- Section I.2 - Definitions
- Inactive customer: extended period from 6 to 12 months without transactions on the current account.
- Operating channels: mentions about decomissioning BT24 and NeoBT applications.
- Customer consent: clarifications on all forms of consent - handwritten, electronic, OTP code, verbal or through banking applications.
Section I.3 - Business relationship and account operation
Refusal or suspension of operations: the bank may refuse the business relationship in case of missing documents, suspected fraud, outdated data or reputational risk
Account inquiries: rewording on account verification, including through electronic channels.
- Execution of instructions: the bank may refuse operations without justification if the explanation would affect legal obligations; in case of suspicion, funds may be blocked or returned.
- Digital services: updates on BT24 and NeoBT decommissioning.
Section II.2 - Payment account for financially vulnerable persons
Updates on access to digital services in the context of the decommissioning of BT24 and NeoBT applications.
- Section II.3 - Debit and credit cards
- Clarifications on using cards via mobile apps.
- The bank may suspend/withdraw the card in case of suspected unauthorized use.
- Section II.6 - NeoBT internet banking service
- Reformulations and additional information on BT24 and NeoBT decomissioning.
- Reformulations and additional information on BT24 and NeoBT decomissioning.
Legal entities:
- Chapter II: Definitions for "Inactive customer": the period during which a customer is considered inactive has been extended from 6 to 12 consecutive months;
- Consent: clarifications on identification data and the customer's responsibility for the data provided.
- Chapter III: GENERAL PROVISIONS APPLICABLE TO THE OPENING OF ACCOUNTS
- Art.21.The bank may refuse or suspend the business relationship in case of incomplete documentation, suspected fraud, outdated data or reputational risk;
- Art.23.12.The bank may refuse an operation without being obliged to justify the decision. In case of suspected fraud, funds may be returned or blocked pending clarification.
- Art.23.21.Carrying out cash withdrawal operations at the counter: The bank may ask for additional documents and may refuse/suspend the operation if there are suspicions or missing information;
- Statements of account: the reference to the debited payment account being reinstated where it would have been if the unauthorized payment transaction had not been carried out has been deleted;
- Art.26.1.point b.2.Termination of the business relationship: the Bank may terminate the relationship if the customer or the representatives are involved in fraud, money laundering, terrorist financing or public scandals.
- Chapter VIII.1. CARDS FOR LEGAL PERSONS
- SMS Alert: SMS can also be sent to numbers abroad; the bank is not responsible for transmission errors for which it is not responsible.
- Chapter VIII.4 INTERNET BANKING NeoBT / BT24 /BT Go
- decommissioning BT24 and NeoBT applications;
- The obligation to return the token has been removed.Mentions regarding communications and notification via secure messaging of internet banking applications have been reworded or removed.
- Chapter VIII.5 DEFENCE CUSTOMERS
- principles, eligibility/exclusion criteria and rules for operations related to legal activities withweapons and ammunition.
