Smith & Smith is the first payment institution to launch the Visa Direct to Account money transfer service in Romania. Through this implementation, the first digital remittance solution that sends funds directly to a bank account becomes available, allowing both Romanians and foreign workers in Romania to send money abroad quickly and securely.
In the initial phase, the Visa Direct service will be available to Smith & Smith customers across all EU countries and Turkey. The service is expected to expand to Canada, India, the Philippines, Thailand, the UK, and the US within the next three months. Customers can transfer money instantly or within one day, depending on the destination country, “at very affordable costs,” according to the press release.
For the SEPA area, the transfer fee is 10 lei (approximately €2.5) per transaction, for amounts of up to €5,000.
“The partnership with Visa and the launch of the Visa Direct to Account service mark the 26th anniversary of Smith & Smith, on March 1, 2026. The first-of-its-kind implementation of Visa Direct to Account in Romania reflects Smith & Smith’s commitment to providing accessible, fast, secure, and convenient ways to transfer money, connecting our customers to more opportunities regardless of borders. This partnership strengthens our goal of delivering instant payments and faster settlements, meeting our customers’ growing expectations for efficiency and transparency. Cross-border and domestic digital payments, together with remittances, play a vital role in supporting the economy,” said Valentin Dăeanu, founder of Smith & Smith.
He added: „By the end of this year, our goal is to enable payments to any bank account in the world, to any card, and to any digital wallet, and wherever the infrastructure allows it — instantly. This is, in fact, the new standard of the payments industry: global, interoperable, real-time payments. For a payment institution that respects its customers, this is no longer just an ambition — it is becoming the natural direction forward.„
“At Visa, we believe that everyone—whether individuals, businesses, or communities—should be able to transfer money easily, wherever they are. We aim to expand access to fast and secure digital payments and support financial inclusion, so that as many people and communities as possible can actively participate in the global economy. Through our partnership with Smith & Smith and the implementation of Visa Direct to Account in Romania, we are taking an important step toward simplifying cross-border payments by offering a digital remittance solution that sends funds directly to a bank account. Visa Direct enables us to connect people across borders and give them greater speed, security, and control when sending money home or supporting their families,” said Claudia Cruceru, Head of Visa Direct, CEE.
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SMITH & SMITH SRL is the oldest payment institution in Romania, authorized by the National Bank of Romania to provide payment services. The company operates an extensive nationwide network of modern proprietary agencies, complemented by a vast network of agents authorized by the National Bank of Romania, over 20,000 POS terminals, and approximately 15,000 AVM/Kiosk machines.
This nationwide, highly distributed network enables the company to offer customers a wide range of financial services, including: INSTANT money transfers, foreign exchange related to money transfer activities, opening and managing payment accounts, operations within these accounts, bill payments, utilities, various taxes, fines, etc., as well as foreign exchange related to accounts.
Smith & Smith owns the SMITH TRANSFER mobile money transfer application, whose license is passported at the European level, facilitating the use of services throughout the EU.
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