Romanian notaries simplify transactions with Libra Internet Bank's Special Notarial Account

Libra Internet Bank has introduced a new financial product aimed at streamlining operations for notaries across Romania: the Special Notarial Account.

This innovative account is specifically designed for individual and professional notary practices, offering a secure and efficient way to manage funds related to authenticated transactions. The core function of the Special Notarial Account is to provide a clear separation of these transaction funds from the notary's general operating capital. This separation enhances transparency and simplifies financial administration.

Key features of the account include complete digital management, from initial receipt to final payment, ensuring full traceability. Notaries gain rapid digital access to payment and receipt confirmations, eliminating the need for cumbersome archival searches. Crucially, funds held in the Special Notarial Account are protected from seizures, offering an added layer of security. The account also provides clarity for special cases such as donations and loans, aiding in the identification of beneficial owners and fund sources.

The bank emphasizes that the account is a tool designed to work for the notary, not the other way around. Administration is entirely digital via the Libra desktop application, with a fixed monthly cost of 100 lei and no additional commissions for opening the account, receiving payments via bank transfer, or making transfers. This cost-effective solution aims to create a more efficient notary office with transparent and predictable fund management, benefiting both the notary and their clients.