Romania’s adult financial inclusion rate has advanced to 71 percent from 68 percent two years ago, reveals the market survey „The Romanians’ perception of the banking system: lending and the Romanians’ financial inclusion”, conducted by the Romanian Institute for Evaluation and Strategy (IRES) and commissioned by the Romanian Banks Association (ARB).

According to the survey, approximately 77 percent of men use banking products and services, compared to just 66 percent of women. Also, 97 percent of the higher education population own at least current bank accounts.

According to an ARB release, the share of Romanians with no current account is highest among people with low education, low incomes, or over 65 years of age, despite the basic current account being free of charge. By residence, 82 percent of the urban population owns banking products and services, compared to 60 percent of rural adults.

Among the top reasons why people do not own a current account, 37 percent of the respondents mentioned too little income, 20 percent said they are paid in cash, 18 percent reported that all payments are made in cash, and 7 percent do not consider it useful. Approximately 70 percent of the respondents with bank accounts say they use debit cards. The credit card is used by 25 percent of the respondents to the survey.

The survey was conducted between June and July 2024 at the commission of the Romanian Banks Association on a sample of 1,320 individual respondents, of whom 1,067 are users of banking products, and carries a maximum error margin of +/-2.75%.

AGERPRES