One of my foreign clients wanted to open a bank account for his newly set up company. I suggested the bank I am using, but he chose another one because one of his friends was working there. It is a small Romanian bank which became part of a big international financial group four years ago.

As at least in the beginning the account was to be operated from abroad, one thing my client needed was Internet/electronic banking. I was sure that the bank offers this service, however I was extremely surprised by their answer. They said “Yes, we do have e-banking, but before we give you this we have to see for a couple of months what turnovers you have. If they are big enough, our headquarters may grant you the possibility for using e-banking.”

Incredible, huh? So e-banking was a favor (even if you would anyway have to pay both for set up and maintenance), and the clients getting it could consider themselves blessed. This bank does not consider e-banking a way to offer a better service (so that the client would not waste time on the road for non-cash operations). Or a way to reduce costs (by needing less front office personnel and of course less office space).

What a difference from other banks which offer reduced commisions for the operations done through Internet! I congratuled myself again for using the services of Emporiki Bank (which is now owned by Credit Agricole) which offers me Internet banking free of charge.

Do I have to mention that my client eventually followed my advice and decided to switch the bank?

Cristian Bizau

Bucharest Angel

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