Using a Hungary Bank Account

Find out about the products and services available from banks in Hungary, plus bank opening times...

Most banks are open Monday to Thursday from 08:00 to 16:00, and on Fridays from 08:00 to 14:00 or 15:00. On Saturdays, some banks are open in shopping malls.

Internet Banking

Many banks provide access to account information online and a variety of Internet banking services. These include reviewing and paying bills, ransferring funds, applying for credit and recharging prepaid services

Service costs are usually lower than traditional paper-based service fees, and services are available 24 hours a day, with faster transactions.

Payment Services

As in other countries, it is possible to pay bills (electricity, water, heating, telephone, and so on) from a bank account in Hungary. The state provides a depositor guarantee for compensation up to €100,000 in case a bank becomes insolvent.

Guarantees are provided if the bank is a member of the National Deposit Insurance Fund - NDIF (Országos Betétbiztosítási Alap - OBA).

Post Office Services

Yellow postal cheques can be used for payment any time. The name and bank account number of the recipient must be written on the cheques. Post offices are open on weekdays usually from 08:00 to 17:00. In bigger cities, many main post offices are open from 08:00 to 12:00 on Saturdays.

It is also possible to withdraw money with a credit or debit card in post offices.

Transferring Money

Money can be transferred at any bank with online banking. Commission for inland and foreign bank transfers varies depending on the bank and the amount of the transaction.

For international transactions, the IBAN (International Bank Account Number) and BIC (Bank Identifier Code) or SWIFT of the beneficiary is necessary to make the bank transfer.

Travellers' Cheques

Travellers' cheques can still be changed at some banks, but they are becoming increasingly rare and tend to attract higher fees than cash withdrawals from an ATM. Exchange rates can vary and private agencies always charge higher fees than post offices. It is not possible to change travellers' cheques at travel agencies, or to use them to pay in shops.