In brief
Money for buying property in Romania moves by international bank transfer, from an account in your name to the account stated in the contract. Cash is not a practical route: in Romania cash payments between individuals are limited to 50,000 lei per transaction, and on entering the European Union amounts of 10,000 euro or more must be declared. What determines whether the transfer goes through on time is the documentation of the source of funds, and what determines how much it costs is the exchange rate.
Key takeaways
- 1Israel is not part of SEPA, so a transfer to Romania is an international SWIFT transfer, with possible fees at the sending bank, at an intermediary bank and on the receiving side.
- 2Under Law 129/2019, banks and notaries in Romania are reporting entities and may ask to see the source of funds.
- 3Take the account details from the contract, not from an email or a message. A "new account" in an email is a reason to stop and verify by phone.
- 4The rate is the biggest fee: compare the rate offered with the BNR reference rate and with the Bank of Israel representative rate.
- 5Keep the SWIFT confirmation (MT103): it proves that the price was paid by bank transfer, and it will be required again on sale.
Once you have chosen a property, the next practical question is how the money gets there. This is the part of the transaction where it is easiest to lose money quietly: a fee here, a poor rate there, and a transfer that gets held up for review in exactly the week of signing. This guide explains what to prepare, in what order, and what not to do.
Why is a transfer to Romania different from an ordinary payment?
For three reasons. First, Israel is not part of the Single Euro Payments Area (SEPA), so a transfer from an Israeli bank to a Romanian bank is an international (SWIFT) transfer with fees. Second, the amounts are large, and tens or hundreds of thousands of euro trigger anti-money laundering checks on both sides. Third, in Romania both banks and notaries are reporting entities under Law 129/2019, and they may ask for explanations of the source of the money. The reports go to the National Office for the Prevention and Combating of Money Laundering (ONPCSB).
What this means: such a transfer starts with a file of documents, not with a bank form. The transfer is examined not only by the amount, but by the explanation behind it.
Under Law 129/2019, banks and notaries in Romania are reporting entities and may ask to see the source of funds.
What are the rules on cash, in Israel and in the EU?
| Situation | The rule | The source |
|---|---|---|
| Cash payment between individuals in Romania | Up to 50,000 lei per transaction; a larger transaction may not be split | Law 70/2015 |
| Entering or leaving the European Union with cash | Declaration required from 10,000 euro upwards | Regulation (EU) 2018/1672 |
| Leaving Israel through Ben Gurion Airport with cash | Reporting required from ILS 50,000 upwards (at land crossings: ILS 12,000) | Prohibition on Money Laundering Law, Form 84 |
| Bank transfer | No cap under these rules, but there is a source-of-funds check | Bank procedures |
The bottom line: cash is not a way to buy property in Romania. The bank transfer is the way.
What source-of-funds file should you prepare?
The file should explain the amount before the bank asks. It usually includes whatever is relevant from:
- Bank statements showing how the money accumulated.
- A sale contract for a property in Israel, if the money came from a sale.
- A mortgage or loan approval.
- A gift document from family, if there is one.
Banks' requirements for documenting the source of funds have tightened, and in some cases the bank will ask to trace the money back years. It is advisable to start collecting the documents months before you find a property, and to document "inconvenient" sources too, such as a loan from family members. A full explanation in advance shortens a review; a partial explanation lengthens it.
In what order is the transfer carried out?
- Confirm where the money is going. When buying from a developer, under the rules of Law 207/2025 (the "Nordis Law"), which since 25.8.2026 appear in Article 422(6)-(11) of the Code of Spatial Planning, Urbanism and Construction (Law 169/2026), advance payments go into a dedicated project account. Take the account details from the preliminary contract only.
- Prepare the source-of-funds file, and send it to your banker before the transfer.
- Choose how to convert: convert shekels into euro at a bank in Israel and transfer euro, or transfer from an existing foreign currency account.
- Transfer precisely: the payer's name is the buyer's name in the contract, as it appears in the passport. In the remarks field, enter the contract number and the unit identification.
- Keep the SWIFT confirmation (MT103). This is the proof that the money left, and the notary and the seller will want to see that the price was paid by bank transfer.
In which currency do you pay, and at what rate?
Real estate prices in Romania are usually published in euro, but the official currency is the leu, and Romania has not yet adopted the euro. If the contract is denominated in euro, you transfer euro. Taxes, fees and the notary's fee are calculated in lei, at the reference rate of the National Bank of Romania (BNR).
To know how much the conversion really costs you, compare the rate the bank offers with the BNR daily reference rate and with the Bank of Israel representative rate. At property-level amounts, a small difference in the rate is worth more than any transfer fee.
Do you need a bank account in Romania?
For the purchase itself, not always: you can transfer from a bank in Israel directly to the account in the contract. After the purchase, a local account saves fees on every small payment - local tax, electricity, gas, internet and management fees - which would otherwise become an international transfer. In any case you will need a Romanian tax identification number (NIF).
Which mistakes should you avoid?
| Mistake | Why it is a problem | What to do instead |
|---|---|---|
| Transferring from a relative's or a company's account | It opens a source-of-funds question when the buyer in the contract is you | Transfer from an account in the buyer's name |
| Account details received by email | Seller impersonation scams send a "new account" | Verify by phone with a known contact and compare with the contract |
| A last-minute transfer | A large transfer may be held up for review | Leave a margin of a few days before signing |
| Ignoring the rate | A rate difference on a large amount is the biggest cost | Compare with the reference rate and the representative rate |
What to do before the first transfer, and how we assist
Three rules are almost always enough: money from your own account, to the account stated in the contract, with a source-of-funds file prepared in advance. We check that the contract correctly defines the destination account and the payment schedule, help prepare the file and coordinate with the notary and with lawyers licensed in Romania, who carry out the transaction in accordance with local law.
The above is general information as of October 2026 and is not legal or financial advice. Before a transfer of a significant amount, it is advisable to coordinate with your bank and your lawyer.
Frequently asked questions
Can you pay for a property in Romania in cash?
Practically not. Under Law 70/2015, cash payments between individuals are limited to 50,000 lei per transaction, and a larger transaction may not be split. When buying from a developer, advance payments go into the dedicated project account by bank transfer.
How much cash may you take out of Israel to Romania?
There is no prohibition, but there is a reporting obligation: when leaving through Ben Gurion Airport you report amounts of ILS 50,000 or more on Form 84, and on entering the European Union you declare amounts of 10,000 euro or more.
Which documents will I be asked for regarding the source of funds?
Usually bank statements, a property sale contract, a mortgage approval or a gift document - anything that explains the amount. Banks and notaries in Romania are reporting entities under Law 129/2019, so it is advisable to prepare the file in advance.
Do you need a Romanian bank account to buy?
Not always. You can transfer from a bank in Israel directly to the account in the contract. A local account is useful mainly after the purchase, for local tax payments, bills and management fees.
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- Portal Legislativ - Legea 70/2015, Legea 129/2019, Legea 207/2025
- ONPCSB - Oficiul Național de Prevenire și Combatere a Spălării Banilor
- EUR-Lex - Regulation (EU) 2018/1672 on controls on cash entering or leaving the Union
- Israel Tax Authority - Reporting funds on entering and leaving Israel (Form 84)
- Banca Națională a României - cursul de referință
- Bank of Israel - Representative exchange rates
The information in this guide is general in nature and does not constitute legal or tax advice on any specific transaction. Every transaction is assessed on its own facts.