People living in Germany who have accounts with banks outside the European Economic Area must pay attention to the new rules that will enter into force on January 11, 2027. In principle, the institutions concerned will need an authorized branch in Germany to directly provide certain services, such as deposits, loans and bank guarantees.
The measure could affect customers of banks in Switzerland, the United Kingdom, the United States and other countries outside the EEA. Depending on each institution’s situation, customers may no longer be able to open new accounts, access certain products or extend contracts under the same conditions.
Romanians in Germany who have accounts with banks in Romania are not covered by this restriction. Romania is part of the European Union, while the rules concern institutions from outside the European Economic Area. Customers who already have money with the banks concerned do not have to withdraw it automatically. Contracts concluded before July 11, 2026, benefit from the protection provided by European legislation, but new services and products reaching maturity may be treated differently.
The changes stem from EU Directive 2024/1619. Account holders should check the country in which the bank is registered and communications about the continuation of services, especially before reinvesting a deposit or taking out a loan after January 2027.
Context: Romanian banks have been expanding a portfolio for the diaspora for years, with fully digital services
Before discussions about the new European rules governing the relationship between customers in Germany and banks outside the European Economic Area, Banca Transilvania was gradually making its service strategy for Romanians abroad known. Examples include opening accounts 100% online through an app, delivering cards to the country where the customer lives, and the possibility of managing transactions and payments from the same app.
The offering was also expanded through dedicated products, such as accounts opened online for Romanians in various countries, transfers with reduced or zero fees between customers, and benefits such as cashback under certain conditions. At the same time, banks began accepting income earned abroad and adapting the criteria for mortgage loans, given that many Romanians from the diaspora periodically return to the country for their families.
