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The financial system is an assembly of arrangements and conventions easing the funds transfer from those owning them to those who need these funds.

In a financial system, financial intermediaries operate: banks, leasing companies, insurance companies, pension funds, scholarships, investment funds, IFNs etc. The financial system provides the allotment, investment or distribution of money to the economic sectors. Such financial circuits generate benefits, but also potential risks associates to financial intermediation, for the economic agents and for the population.

To have a minimum level of financial knowledge is a necessity, even if you choose to use or not the banking services. In order not to spend everything you receive or earn, you need to know how to create a personal budget.

If you are a pupil or a student, your income is the money received from your parents, grandparents or obtained by you on vacation or during your free time and on the other side all the expenses performed during the last month or the last two months. This step will help you understand, follow the money path and establish how to manage your costs.

Tips&Tricks

When we know exactly how much money we are making in one month and how much money we are spending, we must go on passing from thinking from one month to the next and start deciding on what we want to perform in six months or two years. The most important aspect in the financial planning is to establish a series of objectives and to acknowledge them and in the order of their importance, to comply with them. The motivation for which we do this is varied. All these objectives, on a long an short term, are transformed, usually, in a financial need.

The financial institutions provide a diversity of products and services to their clients.

The card is an electronic payment instrument, respectively a standard information support, secured and individualized, allowing the performance of an unlimited number of transactions. The cards can be debit or credit and can be classified by several criteria, as well as by the type of the physical information support, type of account, functions performed, type of institution issuing the card, geographic area of use and others.

Through a card one can perform operations like withdrawals or cash deposits from terminals like ATMs and cash distributors or from the issuer’s/ accepting institutions desks or from the office of other institution. Other operations that can be performed by card are paying for acquired goods and services provided by accepting merchandisers, cash issuance by the merchandiser, fund transfer.

Card are also available as virtual cards in "wallets" downloaded through applications on smartphones. Payments can be done either through QR codes at merchandisers, or directly by phone, by validating the print or by facial recognition.

Payments through Internet Banking and Mobile Banking

The Internet Banking and Mobile Banking services allow the visualization of account balances and accessing them from anywhere, anytime, from a computer, laptop, tablet or smartphone. In order to use such services you must first of all have an account opened at one of the CEC Bank units. You will receive a username and you will choose an authentication and authorization method to have non-stop access to the bank’s products and services.

Through these applications you can make internal and external payments, in lei or in foreign currency, intra and inter-banking, currency exchange, deposit establishment and liquidation, you can obtain reports: bank statements, operations history, balance visualization, financial statement.

Our Internet Banking application provides several advantages, like: mobility, convenience, comfort, security, time-saving, availability - non stop from any device connected to the Internet etc. And if you are a bank client and you have a mobile device (smartphone or tablet) with an Android or iOS operating system, you can request the activation of the CEC Bank Mobile Banking Service to receive the advantages mentioned above, directly on mobile.