Entrepreneurs who choose Banca Transilvania can open a 100% online account, no company paperwork, based on their ID. The facility is available to SRLs, SRL-Ds and PFAs registered with the Trade Registry, with a sole shareholder and sole director, resident in Romania.

100% online account, no company paperwork is part of the bank’s IMM to Go offer, which means online solutions for entrepreneurs — from opening an account and applying for a loan, to accessing information on account balance, interest or garnishments, as well as managing business cards.

“You incorporate your company online, open a bank account online, shop online, sign contracts online. ‘Online’ and ‘digital’ are, from what we see, the most frequently used words now in almost any field, but especially in financial services. For most customers this isn’t new, and what matters to them is the number of clicks, the documents uploaded, the time spent — for example — to open a bank account. So 1 document and 5 minutes have become the cost of opening a current account at BT for a company with a sole shareholder and sole director,” says Daniel Szekely, Executive Director, SME & Microbusiness, Banca Transilvania.

When opening the business account online, entrepreneurs can choose the First Year Free Account or Unlimited, with options depending on the number of transactions each month and the specifics of the business. The packages include core products and services such as a business card, online banking, account alerts, etc. Those who choose to bank with Banca Transilvania benefit from free, instant payments and collections with over 300,000 entrepreneurs in Romania, as well as payments and collections in any currency, included in the Unlimited package. Over 80% of business customers have the Unlimited current account package at Banca Transilvania.

BT has the most diversified ecosystem supporting SMEs in Romania, through its approach, team and offer.