Opening a bank account in Hungary – Where to start?

Whether you are an individual or managing a company, having a bank account and access to online banking is a must to keep tabs on your finances. In Hungary, opening a bank account is fast and easy, although you have to fulfil certain requirements.

What documents do you need for opening a bank account?

Opening a bank account in Hungary is the easiest for Hungarian and EU citizens; they need the fewest documents (basically their ID documents are enough). For third country residents, the procedure depends mainly on the purpose of their stay. In some cases the account is set up within a few hours, while in specific cases a resident permit may be required to complete it.

As a foreigner in Hungary, your main ID document is your passport. As such, make sure to bring it along when you want to open a bank account. If you want to open a business bank account for your company, the company registration documents will be required.

Which Hungarian bank should I choose?

The first step of opening a bank account is always to choose a bank. You should pay attention to several aspects at once, and decide which are the most important for your planned activities.

• The costs of maintaining your bank account and handling your bank cards is usually considered crucial.
• Various types of credit cards and debit cards are available (e.g. Visa, MasterCard), so make sure to choose one that fits your purposes, whether you need the card for domestic or international use.
• It might be relevant where the branches are located, so you will be able to reach the branch easily.
• At the same time, in Hungary nearly all banks have online interfaces, so online banking will be possible even when you are abroad. For this, you should check if the online interface is available in English.
• Moreover, banks offer different additional services and discounts to their clients – especially to new ones.

Helpers has over 12 years of experience in assisting clients in opening bank accounts. We would be happy to go through your needs together and help you choose the offer that best suits your needs. We can even help you with the procedure – of which you can learn more in our next article. Check it out!

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