Raiffeisen Bank Implements New Currency Exchange Restrictions: What Customers Need to Know

Starting this month, Raiffeisen Bank introduced new restrictions for its customers, affecting in particular those who often exchange money during Smart Hour.

Customers were notified by the bank’s representatives that the changes came into effect on April 8. In particular, those who exchanged money during Smart Hour will be limited to a certain amount each month.

Raiffeisen Bank, limits for those who made money exchanges

In the past, those who were clients of Raiffeisen Bank and had an account and card had the option to exchange a maximum of 30,000 euros in a month, during the 20 working days of the month , at the level BNR (National Bank of Romania), between 10.00 and 11.00.

“We inform you that from April 8, 2024, a monthly limit of 10,000 euros (or equivalent) will be applied to currency exchange operations carried out during Smart Hour.

Therefore, from April 8, 2024 in Smart Hour you will be able to exchange lei-euro or euro-lei up to 1,500 euros per day, on bank working days, from Monday to Friday. From 10 am to 11 am, at the BNR exchange rate that was valid on the date of the currency exchange,” was the message sent by Raiffeisen Bank.

The exchange rate is different after reaching the limit of 10,000 euros

With the changes implemented by the bank, outside the Smart Hour period or when the limit of 10,000 euros (or similar) is reached, a exchange different.

In this case, users will have the option of whether they still want to make the currency exchange at the rate that is displayed.

We remind you that in March, customers of Raiffeisen Bank were notified by the National Authority for Consumer Protection (ANPC) that they can recover the amounts wrongly calculated by the bank.

These amounts refer to interest calculated for loans in lei, euro and Swiss francs between 2006 and 2007. 92% of affected customers were compensated by 2024 .

Now, those who are part of the remaining 8% can recover their lost amounts, according to Followers.