Romania’s new regulations on cash payment limits and interchange fees ceiling need Parliament approval

The new regulations on ceilings for cash payments and interchange fees in Romania will enter into force after the Parliament’s approval, as the Ministry of Finance republished the provisions on its website, in the form of a draft law. The regulations were initially included in an emergency ordinance draft, which required the provisions to only be approved by the Government. Romanian Prime Minister Victor Ponta said earlier this month that the proposal on limiting cash payments for individuals and companies and the ceiling on interchange fees will finally be enforced via a draft law, reports local news agency Agerpres. According to the draft law proposed by the Ministry of Finance, cash payments between individuals will be limited at RON 10,000 (some EUR 2,200 at today's exchange rate) per day, while the ceiling for cash payments that companies can make to other companies or individuals will be halved to RON 5,000 (around EUR 1,100), from RON 10,000. Currently, there is no ceiling for cash payments between individuals, while the cash payments that companies can make are limited at RON 10,000. Irina Popescu, irina.popescu@romania-insider.com