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Premiere in Romania: instant EUR collections through Banca Transilvania

Comunicat de presa 2022-09-26
 Premiere in Romania: instant EUR collections through Banca Transilvania

Banca Transilvania has launched instant EUR collections, a free of charge service whereby individuals and companies receive money on the spot from one of the banks in Europe, part of the TIPS (TARGET instant payment settlement) system. BT is the only bank in Romania to offer this facility to customers.

 “We are taking another step forward in terms of instant bank transfers in Romania. Customers now have access to a service that means fast access to money received from a European country. The adoption of this service is already very good: from the first day of its launch, almost 15% of BT customers’ EUR withdrawals are instant. We thank the NBR for its support and involvement, as the administrator of the TIPS payment system in Romania, which provides the mechanisms to connect to the European settlement systems”, states Leontin Toderici, Deputy CEO, Banca Transilvania.

Banca Transilvania’s customers can track the receipt of money through Neo and BT24.

Instant Payments were launched in Romania three years ago by Transfond, Banca Transilvania and CEC Bank, offering the possibility to transfer RON, in real time and non-stop, to the other banks in Romania that have joined this system.

The developer of the IT solution for Banca Transilvania’s instant EUR collections and payments is Montran, a leader in the market for payment systems for central and commercial bank infrastructure, with 20 years of activity in Romania and 40 years worldwide. More than 100 commercial banks and nearly 60 national banks in 70 countries use payment systems implemented by this company.

Banca Transilvania is also preparing the launch of instant payments in EUR.