Banca Transilvania and CEC Bank launch instant payment services in Romania

Banca Transilvania and CEC Bank are the first two banks to launch instant payment services for Romanian customers. Romanians can make instant payments that do not exceed 50,000 RON.

This new service was launched in partnership with Transfond, the administrator and operator of the Automatic Compensation House of interbank commercial payments.

Instant Payments ensures the money transfer in less than 10 seconds between banks. Such payments can be made at any time (24/7/365).

The first two credit institutions that have introduced this service are Banca Transilvania and CEC Bank, with more banks to follow the lead in upcoming months.