Make Payments and Receive Payments in RON - New Romanian Leu
Pay in New Romanian Leu (RON)
Mondial Change allows you to make international payments in RON (New Romanian Leu) with ease. Manage your beneficiaries in New Romanian Leu, track your transactions in real-time, and enjoy a secure online platform. We do not apply any exchange commission on your RON operations (a spread is applied to the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your customer rate is always communicated transparently before the validation of each of your transactions.
Receive Payments in New Romanian Leu (RON)
Mondial Change allows you to receive payments in RON (New Romanian Leu). Payments in RON are received in an account in your name with a dedicated IBAN. This RON account with a nominative IBAN is provided to you free of charge. It allows you to receive payments in RON from your clients or subsidiaries and also to hold New Romanian Leu. The RON can be reused to make payments in RON. The RON can also be converted into EUR or any other currency of your choice and repatriated to your bank account. The New Romanian Leu (RON) account can be located in France or other countries (see possible locations).
Do you want to hedge your exchange risk on the New Romanian Leu (RON)? Check our dedicated page for RON currency hedging.
Mondial Change Answers All Your Questions About Payments in New Romanian Leu (RON)
What is the timeframe for a RON payment to be credited to the beneficiary's account?
It generally takes between 1 and 2 business days for a transfer in New Romanian Leu to be credited to the beneficiary's account. However, please note that these timeframes are not contractual, and our partners responsible for the execution and routing of payments cannot be held liable if RON payments are credited beyond 2 business days to the beneficiary's account.
What are the fees for a payment in New Romanian Leu (RON)?
The fees applied to transfers in New Romanian Leu (RON) generally vary from 0 to 10 euros depending on the agreement with Mondial Change's trading room. The rate primarily depends on your annual RON exchange volume and the number of New Romanian Leu payments made during the year.
Are there minimum or maximum amounts for payments in New Romanian Leu (RON)?
Mondial Change and its partners verify that your flows in New Romanian Leu are consistent with the data declared during account opening and consistent with your activity volume to ensure compliance and security. If there are restrictions on transaction volumes, they will be communicated to you well in advance of the validation of your operations.
What are the specific rules for executing a payment in New Romanian Leu (RON)?
For RON payments via the SWIFT network, you only need to provide the following information:
• Full name of the beneficiary
• IBAN
Is it possible to modify a payment in New Romanian Leu (RON) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in New Romanian Leu (RON) even after it has been sent in SWIFT. If you have, for example, made an error in the beneficiary's name or account number, the correction is made through a SWIFT amendment. If the payment has not been executed via the SWIFT network, then it is not possible to make such amendments, and you must wait for the payment to be returned if applicable.
Is the New Romanian Leu (RON) account provided to you a bank account, and is it nominative?
The New Romanian Leu (RON) account for which we provide you with the details is not a bank account per se because the account holder is not a bank but a partner payment institution. These accounts are labeled in your name, and the IBAN attached to the account is unique. You thus have a guarantee of segregation of your funds in the books of our partners. The security guarantees for your funds are similar to those offered by traditional banks. The account can be located in different countries according to your operational needs. Please consult the page related to opening a New Romanian Leu (RON) account for more information.
Is it possible to hold New Romanian Leu (RON) in the RON account provided to you?
You can use this New Romanian Leu (RON) account to receive or store New Romanian Leu. The funds can then be reused to make payments in New Romanian Leu or be converted into other currencies. The account is also compatible for receiving RON payments from e-commerce platforms like Amazon or payment systems like Adyen or Stripe.
What are the holidays when payments in New Romanian Leu (RON) cannot be executed?
January 1st: New Year's Day (Anul Nou)
January 2nd: Second Day of New Year
January 6th: Epiphany (Boboteaza)
January 7th: Saint John the Baptist (Sfântul Ioan)
January 24th: Day of the Union of the Romanian Principalities (Ziua Unirii Principatelor Române)
Variable date: Orthodox Good Friday
Variable date: Orthodox Easter (1st day)
Variable date: Orthodox Easter Monday
May 1st: Labor Day (Ziua Muncii)
June 1st: International Children's Day
Variable date: Orthodox Pentecost (1st day)
Variable date: Orthodox Pentecost Monday
August 15th: Assumption (Adormirea Maicii Domnului)
November 30th: Saint Andrew (Sfântul Andrei)
December 1st: National Day of Romania (Ziua Națională)
December 25th: Christmas (Crăciunul – 1st day)
December 26th: Christmas (2nd day)
History of the New Romanian Leu
The New Romanian Leu (RON) is the official currency of Romania, a multifaceted Eastern European country with a rich history and vibrant culture. As the national currency, the New Romanian Leu plays a crucial role in the country's economy and facilitates exchanges both nationally and internationally. The New Romanian Leu is subdivided into 100 bani. Its ISO code is RON, and its symbol is lei. Banknotes in circulation are available in denominations of 1, 5, 10, 50, 100, 200, and 500 lei, while coins are issued in denominations of 1, 5, 10, and 50 bani. The National Bank of Romania, known as Banca Națională a României, is responsible for issuing and regulating the New Romanian Leu, ensuring monetary stability and market confidence.
Monetary Policy of the New Romanian Leu
The National Bank of Romania implements a monetary policy aimed at maintaining price stability and promoting sustainable economic growth. It closely monitors economic indicators such as inflation, exchange rate, and financial stability to take appropriate measures. The Romanian monetary policy also aims to promote financial stability and encourage investment to support the country's economic development.
Particularities of the New Romanian Leu
The New Romanian Leu has certain particularities. Firstly, Romania is a member of the European Union but has not yet adopted the euro as its currency. Consequently, the New Romanian Leu remains the currency in circulation and used in the country. Additionally, Romania is known for its rich history in terms of currency development, with different versions of the Leu over time. The New Romanian Leu was introduced in 2005 as part of the monetary reform.