Expat Community > Hungary

peddington
Joined 2013
Posts: 382

Bank fees in Hungary!

10 years ago

If you move from the US to Hungary and open a bank account you will experience "bank fee shock" LOL! While in the US may have bounced check, minimum balance, etc. In Hungary you will have to pay a fee when you take your own money out. If you transfer betwwen accounts at the same bank there is afee, if you use your banks ATM there is a fee, when you convert there is a fee etc. Incidentally you don't get interest on your money on top of that unles you tie the money down not unlike CD or MM. But this is tricky too. Someone I know tied down 500 euros at 7% for 6 months. When he took the money out he got back 496 Euros. Go figure! Incidentally the Government in their infinite wistom passed a "transactional tax" on tha banks. What this means is that when you pay a bill you get taxed. What they didn't count on (or maybe they knew) the banks just passed on this cost to the consumer. You and me! So many Hungarians return to the "money in the mattress" saving method and 100's of millians have been taken out of banks in the last two months. I'm thinking this will have an un planned consequence on the economy this "geniuses" in parlament have not thought of! I got a US credit card with no foreign transaction fee. I use it for gasoline and food purchases etc. Then I pay my bill from my US bank account. Yes I still have a local account but that is just for emergencies.

Cigna Global Health

Get a quote in 2 minutes from our partner, Cigna Global Health.
Get Quote

Cigna Global Health

Get a quote in 2 minutes from our partner, Cigna Global Health.
Get Quote

Living in Hungary Guide

Guide to Living in Hungary covering expat life, local culture, finding a home, diversity and more.

Hungary Forum
Join our Hungary forum to meet other expats and talk about living in Hungary.

Contribute
Help other expats and newcomers by answering questions about the challenges and adventures of living in Hungary.

Best Places to Live in Hungary

If you're thinking about living in Hungary, here are the 15 Best Places to Live in Hungary in 2023.

Healthcare in Hungary

If you're moving to Hungary or an expat living in Hungary, understanding the Hungarian healthcare system in important. This article offers an overview of the national healthcare system, private hospitals and healthcare, private health insurance for expats in Hungary, clinics with English-speaking doctors and the quality and cost of medical care in Hungary.

Cost of Living in Hungary

Expats offer insight into the cost of living in Hungary.

Moving to Hungary Guide

Expats share 8 things they which they had known before they made the big move to Hungary - from what to bring to finding a good bank, healthcare to deciding where to live.