Low-Cost Bank Accounts Coming Soon in Hungary

  • 27 Jun 2023 9:37 AM
  • Hungary Around the Clock
Low-Cost Bank Accounts Coming Soon in Hungary
Low-cost, “basic” bank accounts, with a monthly fee of Ft 1,000 will be available from July 1, as defined by a government decree, the MNB affirmed.

Presenting its new Payment Report, the MNB announced that the maximum instant payment will be increased to Ft 20 million from September 1.

An important change for instant payments from next year is that the clearing house Giro will provide a central authentication service for QR codes and for data entry.

Free QR code, NFC and deep-link transfers will be available on the mobile apps of all bank customers, and the acceptance of payment requests will also be mandatory and free of charge at banks from February 1, 2024.

In its 2030 strategy, the MNB set a specific target for reducing the spread of costs between customers and also aims to reduce overheads.

This can be aided by several tools, one of which is to support customers in a more understandable way, via statements or comparison pages, Portfolio writes.

A basic account with a reduced fee, with unlimited free access to the above services (deeplink, NFC, QR code payment, payment request acceptance) for up to Ft 1,000 per month, can help, the website adds.

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Around the Clock

Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.