Hi I’m mainly just curious. I’m in Romania and I have an account in RON. What happens to my account if in the future (~ 10-100 years probably) my country decides to adopt EUR as a currency. My account would still stay in RON right? If I deposit money into it how would I do it? Convert from EUR to RON? A currency that technically no longer exists?
It might be worth having a look what happened when other countries adopted the EUR.
I would expect if RON were to expire as a currency, your account would have to convert to EUR.
Hey @kudorgyozo, welcome to our community!
Assuming that this scenario does indeed occur, you can be certain that we’ll notify you of our approach in a timely manner.
Not to soon needs 5y stable inflation and ERM
Other previous non-EUR accounts (banks, brokers, companies, social security, taxes, clients, suppliers, etc) were all converted to EUR according to a pre-determined fixed foreign exchange, and the former currency disappears.
In the beginning, every day to day shopping, the stores/shops will accept both physical currencies, the old and the EUR. But it’s for a short period of time.
Physical money could also be exchanged for the new EUR notes and coins, during a transitory period of time at banks and the Central Bank (the last resort exchange).