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Banking in Hungary: more than satisfactory

Banks have been keeping up with their part in the exemplary accelerating growth in Hungary.

As of 2nd March 2020, banks have introduced InterGIRO3, allowing online initiated transactions up to the amount of ten million HUF, to be executed within seconds. The system provides this service 356 days a year. If the target account has a secondary identification, such as a phone number or an e-mail address, then the account number is not necessary for the execution of the transfer.

Of course, corporate accounts may also be opened in foreign currencies, such as EUR, USD, GBP, RUB, and others.

To execute the corporate account opening, the chief executive officer of the newly established company will be required to visit the bank personally.

To process due diligence, various questions may be raised prior to the approval by compliance departments of the respective banks: these formalities serve as the protection of your safety also.

Overall, online banking in Hungary today is a safe and swift way for arranging finances, which keeps up with the latest standards, and works further to innovate financial services.