Romanian Exchange Offices To Notify Rates In Writing Ahead Of Transactions

“Consumers’ right to be fairly and precisely informed on the currency exchange rate materializes in the obligation of the economic operator (…) to inform the consumer, in writing and ahead of the actual transaction, on the exchange rate practiced and on the amount of money to be handed to the consumer (…), so the consumer is able to make a rational choice,” ANPC’s order noted.

 

Under the order, economic operators will be compelled to issue a standard form including the data on the exchange office, the exchange rate and the money to be handed to the client, which will be signed by both the operator and the client.

 

The standard form will be printed in both Romanian and English in two copies: one for the client and the other one for the exchange office.

 

The exchange rates for transactions with used, damaged or obsolete coins and bills, as well as the ones for transactions with payment instruments in foreign currency, such as vouchers and travel checks, will be posted separately inside the exchange offices.