Send money to Hungary

Wise delivers the most HUF per euro or pound, with transparent fees and mid-market-adjacent exchange rates. From Germany and Austria (the largest corridors), SEPA-funded Wise transfers cost as little as 0.50–1.00 EUR. Revolut is also competitive for existing users. Traditional banks can charge 3–5% in combined fees and FX markup.

SEPA credit transfers from any EU/EEA country reach Hungarian bank accounts within one business day, often within hours. SWIFT transfers from outside Europe take 2–3 business days. Cash pickup at Western Union agents in Budapest, Debrecen, or Szeged is available within an hour.

Hungarian IBANs are 28 characters: 'HU' followed by 2 check digits, a 3-digit bank code, a 4-digit branch code, a 16-digit account number, and a 1-digit check digit. Example: HU42 1177 3016 1111 1018 0000 0000. Your recipient can find their IBAN through their online banking or bank statement.

No. Hungary uses the Hungarian forint (HUF). The government has not committed to a timeline for euro adoption, and the MNB continues to set independent monetary policy. This means all transfers from Eurozone countries require EUR-to-HUF conversion, and the exchange rate is the primary variable affecting how much your recipient receives.

You need the recipient's full name, their IBAN (28 characters starting with HU), and optionally the bank's SWIFT/BIC code (e.g., OTPVHUHB for OTP Bank, OKHBHUHB for K&H Bank, GIBAHUHB for Erste Bank Hungary). For SEPA transfers, the IBAN alone is sufficient for routing.

The HUF is one of the more sensitive emerging-market currencies within the EU, reacting to MNB interest rate decisions, Hungarian fiscal policy, and broader risk sentiment in European markets. The forint can swing 1–2% against the euro in a single week. Rate alerts from providers like Wise help you send when HUF is weaker, maximizing the amount your recipient gets.

Western Union and MoneyGram have cash pickup locations across Hungary, concentrated in Budapest, Debrecen, Szeged, Miskolc, and Pécs. Agents operate inside Magyar Posta (Hungarian Post) offices and currency exchange shops. However, banking penetration in Hungary is high, and most recipients prefer IBAN bank deposits.

Hungary does not tax incoming personal remittances. Gift tax was abolished in Hungary in 2010 and replaced with a registration-based system for property transfers. Personal money transfers from family abroad are not subject to income tax or any special levy, regardless of amount.

The Austria-to-Hungary corridor benefits from geographic proximity and SEPA integration. Wise, Revolut, and Western Union all serve this route. Wise offers the best EUR/HUF rates for bank deposits. Many Hungarians working in Austria also use Revolut for its multi-currency account convenience, though comparing rates per-transfer remains advisable.