From 1 January 2026, a legislative change has brought bank accounts, POS terminals and app-based payments into the same discussion. They are not, however, the same thing. An SRL is expressly required to hold at least one payment account, while PFA sole traders, individual enterprises and family enterprises must generally also accept modern payment methods. The law does not say that every small business must necessarily buy a conventional POS terminal.
In the same context, see also How much money is guaranteed in a Romanian bank: the EUR 100,000 rule explained, which provides further relevant information.
The distinction matters especially for small businesses: a photographer who invoices and receives money only by bank transfer, a neighbourhood shop that also takes cash, a salon, a PFA working at the client’s premises, or a newly established company all face similar, but not identical, obligations.
Two different obligations that are often confused
Law No. 239/2025 amended both Law No. 70/2015 on financial discipline and Emergency Government Ordinance (OUG) No. 193/2002 on the introduction of modern payment systems. This results in two separate rules.
| Situation | Rule applicable from 2026 | What this means in practice |
|---|---|---|
| An SRL, SA, cooperative or other legal entity | Must hold at least one payment account in Romania or with a State Treasury unit. | The account must be maintained throughout the period of activity. A new company may open it within no more than 60 working days of incorporation. |
| A PFA, individual enterprise or family enterprise registered with the National Trade Register Office (ONRC) | It is not included in the express account requirement introduced for “legal entities”, but it is, in principle, covered by the rule requiring the acceptance of modern payment methods. | The means of collecting payments must be assessed: activity involving customers at the business premises or in the field requires a functional non-cash payment option, unless an exception applies. |
| A business that makes all payments and receives all income exclusively through accounts at credit institutions | It is exempt from the requirement to accept modern payment methods that applies to entities registered with the Trade Register. | Bank transfer is the only route for payments and receipts. The exemption should be considered carefully if the business begins accepting cash. |
| An entity with a collection point in an area without electronic communications networks | May benefit from a temporary exemption. | Compliance is required within no more than 12 months of the area being connected to electronic communications networks. |
The text of the new account rule explicitly refers to legal entities. Therefore, this provision does not establish that every PFA must hold a payment account under the same conditions as an SRL. PFA sole traders, individual enterprises (II) and family enterprises (IF), however, are among the professionals registered with the Trade Register, a category covered by the rule on accepting modern payments.
What an SRL is required to have
Under the version of Law No. 70/2015 applicable from 2026, legal entities must have a payment account in Romania or with the State Treasury. For newly established companies, the deadline is no more than 60 working days from the date of incorporation; thereafter, at least one account must be maintained for as long as the company carries out activity.
A “payment account” is, essentially, an account held in the user’s name and used to execute payment transactions. The rule analysed does not require a particular bank brand, a specific account package or a card linked to the account.
Failure to open and maintain the account is an administrative offence and may be punished by a fine of between RON 3,000 and RON 10,000. For a micro-business that operates in cash and generally avoids banks, this is the part carrying the most direct financial risk.
Does a PFA need a POS terminal? Not necessarily, but it must be able to accept modern payments
The second rule has a different purpose: it does not concern the existence of a business account, but rather the customer’s option to pay without cash. From 2026, the natural and legal persons covered by Trade Register Law No. 265/2022 must also accept payments through modern methods.
Importantly, the legislation does not limit a “modern payment method” to cards. The definition includes debit, credit and prepaid cards, as well as app-based solutions that facilitate the initiation of an account-to-account payment. In other words, a physical POS terminal may be one solution, but it is not the only solution covered by the legal definition.
For a shop, café or salon with direct footfall, a physical or software terminal may be the clearest operational choice. For a PFA consultant who works solely on an invoicing basis, bank transfer may already be the form through which all receipts and payments pass through bank accounts. This is where the exemption in OUG No. 193/2002 becomes relevant.
However, simply displaying an IBAN should not automatically be treated as sufficient evidence for every business model. The law refers to accepting modern payment methods, and the method of implementation must allow the payment to be initiated in a real and functional way. The entrepreneur should retain the contract with the payment provider, the payment instructions communicated to the customer and evidence that the solution is active.
The exception that may matter for a freelancer or B2B business
OUG No. 193/2002 provides an exemption for entities that carry out all payment and collection operations exclusively through accounts opened with credit institutions. The word “all” is essential. This is not a convenient exemption for a business that sometimes takes cash at its place of business but prefers transfers for large invoices.
A simple example: a design PFA that issues invoices, receives money only by transfer and pays all its expenses through an account may, in principle, fall within the logic of the exemption. If that same PFA begins taking cash from customers at events or at its premises, the situation must be reassessed.
The law also retains the possibility for salaries, pensions, allowances and social assistance benefits to be received either in cash or through modern payment methods. The changes therefore do not mean that cash has been eliminated from the economy.
A quick test before choosing a payment solution
- Establish the legal form. Are you a legal entity, a PFA, an II or an IF? For SRLs and other legal entities, the account requirement is explicit.
- Look at how you actually collect payments. Do you have customers who pay at the till, at home, in the field or only after an invoice is issued?
- Check whether all operations are exclusively banking transactions. If there are cash receipts or payments, do not assume that the exemption applies to you.
- Choose the tool, not the label. A card, software terminal or account-to-account solution may be different options. What matters is that the chosen method can be used by the customer and is compatible with the business’s workflow.
- Clarify costs in writing. The law provides that the installation of terminals and connection to the infrastructure are borne by the accepting institutions, but administration and operation are established by contract. The transaction fee, subscription and cost of additional services should be compared before signing.
What happens if a business does not comply
For failing to hold the mandatory account of a legal entity, the fine is between RON 3,000 and RON 10,000. For refusing to accept modern payment methods by entities registered with the Trade Register, the amended framework of OUG No. 193/2002 provides for separate administrative offences and penalties.
Before treating the matter as a formality, company directors should distinguish between two questions: “Do we have an active payment account?” and “Can the customer actually pay without cash?” An account that has been opened but has no procedure for receiving payments from customers does not automatically solve the second issue.
Practical conclusion: an account, a POS terminal and a transfer are not synonyms
The rules that took effect on 1 January 2026 have broadened the use of modern payments and introduced a clear account requirement for legal entities. For an SRL, the first step is straightforward: at least one eligible payment account must exist and be maintained. For a PFA or small business registered with the ONRC, the key question is how it collects money from customers and whether it can demonstrate a functional modern alternative to cash.
In borderline cases — separately regulated professions, mixed cash-and-transfer activity, seasonal activity or a bank’s refusal to open an account — it is prudent to check the situation with an accountant or legal adviser, based on the business’s specific documents.
Frequently asked questions
Does a new SRL need to open an account immediately after incorporation?
The law gives newly established legal entities no more than 60 working days from the date of incorporation to open a payment account in Romania or with the State Treasury.
Does a PFA have the same account requirement as an SRL?
Not under the new provision in Law No. 70/2015, which expressly refers to legal entities. A PFA registered with the Trade Register is, however, generally covered by the obligation to accept modern payment methods, subject to the applicable legal exemptions.
Is a conventional POS terminal mandatory for every PFA?
The law does not establish an obligation to use only a conventional POS terminal. The definition of modern payment methods includes cards, as well as app-based solutions that allow account-to-account payments. The chosen solution must be functional and suited to the way the business collects payments.
Can a business still accept cash?
Yes. The regulations analysed do not eliminate cash. They do, however, impose certain caps on cash transactions and extend the obligation to offer or accept modern payment methods in the cases provided by law.
What fine does a company risk without the mandatory account?
Failure by legal entities to open and maintain at least one payment account is punishable by a fine of RON 3,000 to RON 10,000.
