Romanians earning less than EUR 632, exempt from bank fees

Romanians with gross salaries below RON 2,900 (EUR 632) per month will be exempt from paying bank fees for current accounts and associated transactions, according to an amendment approved in the Chamber of Deputies’ budget committee yesterday, reports Profit.ro. They are considered vulnerable consumers.

The amendment doubled this ceiling to two gross minimum wages. Vulnerable consumers were previously considered people who earn less than a gross minimum wage, namely RON 1,450 per month.

The committee will send its report to the Parliament for the final vote.

The bill, drafted by the National Authority for Consumer Protection (ANPC), transposes a EU Directive, with one-year delay. The directive aims to increase public access to payment services, with only 6 out of 10 Romanians having a bank account. ANPC and the Parliament have added a series of exemptions, especially for vulnerable consumers.

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