Guide2Opening a Bank Account

Description:

Anyone can apply for an account at any bank. However, some people may find it difficult to find a bank willing to accept them. It is possible that people, who are sued for non payment of debts or those who are declared insolvent, be allowed to open only a single account or a savings account.

With a single account can:

- To deposit money into account;

- To withdraw money from ATM;

- Pay bills usual;

Basic Requirements

By the law, the bank has the right to check:

- If the applicant is legally eligible;

- Identity of the applicant;

- Address of applicant;

- Records on insolvency;

Documents normally required are: Paper / ID or other valid ID, a recent utility bill. This is not an exhaustive list of acts that may be required to open an account. Obviously, the requirements may vary depending on the requirements of the bank.

Also, according to national legislation, minors will have to meet certain conditions in order to open a bank account. In Romania, the minimum age to open a basic bank account is 18 years.

Client Information

As the bank is entitled to request information about you also have the right to obtain certain information. During the execution of the contract, the bank is bound both by law and the code of conduct to give you information on rates interest, fees charged and terms- general and conditions of contract.

You must be notified of any changes in terms and conditions after you opened the account.

If you decide to transfer your account from another financial institution, the bank must provide you all information about the account within 3 days of receiving your request. The Bank will close your current account when you request it.

Also, under normal circumstances, no bank will close your account without notice at least 30 days.