"Banking in Budapest" Budapest Shopping Tip by budapest8

Budapest Shopping: 222 reviews and 281 photos

  5 ATM machines outside OTP Bank main branch
by budapest8

In Hungary banks are usually open between 8.00 - 16.00 on weekdays, although some close an hour earlier on Fridays. With the exception of some shopping mall bank branches, Hungarian banks are not open on Saturdays.

ATM machines and currency exchange machines are available throughout the country. However, beware of higher service charges for using ATMs that are not affiliated with your bank of origin. The credit cards used most often ? Diners Club, Euro/Mastercard and VISA ? can be used to withdraw cash from banks and ATM machines and to pay bills in hotels, restaurants and shops. Emblems at the entrance mark the shops where credit cards are accepted. Most banks have their own automated networks. You don't have to worry about buying Hungarian Forint ahead of time and carrying cash on you. ATM machines are widely available in major cities. You can also use your bank or credit card to get cash at post offices throughout Hungary. More than 3.200 post offices nationwide provide this service. Traveler?s checks may be cashed in banks, but are not accepted in shops. They may also be exchanged at some downtown booths.

Opening a bank account
Expatriates in Hungary tend to use the foreign-owned retail banks. Most banks provide e-banking today in Hungary. In a short time, about 30 minutes, you can open a Forint-based account or a USA dollar or Euro account according to your needs, and it is likely that a minimum deposit will be required. In order to obtain a bank card, you will be asked to make an up-front deposit of Forint 50,000 or ? 200; amounts vary with banks, it can be or more. To open a bank account, you must present your passport and another identification document (such as driver's license, tax card, etc.). There are several banks that offer banking services in English.

What to pay:
Banking fees are expensive and charge for everything

Theme: Other

Review Helpfulness: 3.5 out of 5 stars

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  • Written Feb 28, 2007
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