Romanian Bks Payment Refusals Up 2.6-Fold YY In Jan-Sept

In August, the banks’ refusal of payment touched a record high of RON931 million.

January through September, the payment refusal for promissory notes totaled RON5.7 billion, nearly triple from the same period a year ago, while the refusal of cheques reached RON780,000, up 45.4% on the year, according to the centarl bank.

Also, the amount of rejected bills of exchange totaled only RON137,100, but nearly quadrupled on the year.

Banks reported 368,458 cases of payment rejections at the central bank’s Payment Incidents Register in the first nine months, more than double on the year. The bulk, or 81%, of all payment refusals are major incidents, totaling RON5.3 billion.

Payment incidents were caused by 114,399 accountholders, 108,331 of whom are companies and 6,068 individuals.

The register keeps data on the payment incidents for seven years from registration.