One week before the shift to the ROL with fewer zeroes (RON), the banking system is getting ready to pass the logistics and technical test of the transition period around July 1. The fact that the banks will not be open for business on Thursday, June 30 and Friday, July 1, and implicitly the impossibility to make payments until Monday, July 4, will induce a higher demand for cash on June 28 and 29. This is especially due to the many companies that usually pay the salaries on June 30 deciding to pay them sooner, on the 28th or the 29th.
The high demand for cash in the days leading up to July 1 will also be fuelled by the halt of cash dispenser service for 24 hours. Many banks are advising their clients to set some cash aside in good time, so as to avoid unforeseen events that would leave them penniless. Under the circumstances, banks anticipate long lines at pay desks and ATMs, which will result in significant amounts of cash put into circulation during this period. BRD-SocGen will have all its offices closed from June 30 through Monday July 4. Its POS and ATM network will be shut down on June 30, at 12 am and be gradually brought back online on July 1, 12 am. It will distribute new bills in 10, 50 and 100 RON denominations through some 100 machines
Banca Tiriac advises clients to request completion of the transactions falling due or otherwise scheduled for June 30 and July 1, until June 29. Its electronic systems processing high and low value ROL transactions will be non-operational in the two days, so that the transactions in RON will be processed no sooner than Monday July 4. Therefore it will not be possible to even pay Connex or RomTelecom bills through ATMs on June 29.
Card operations conducted through Banca Tiriac, i.e. payments of goods and/or services at offline and online merchants, cash withdrawals from the banka??s pay desks or ATMs will be halted on Thursday June 30 from 12 am to 12 pm, with the system resuming operations as of Friday July 1, 12 am. Banca Tiriac is one of the few banks participating in the feeding of RON on the market as early as of July 1, having adjusted 30 machines in this regard.
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