Personal accounts: Hungary
An honest assessment before work starts, the quote is fixed in writing.
Hungary is a member of the European Union but has its own currency, the forint. A personal account here is opened by people moving on a residence permit, working or studying in the country, buying a home or investing in Hungarian real estate funds, and by owners of Hungarian companies. Banks are supervised by the Central Bank of Hungary and open accounts not only in forint but also in euro and dollars.
Who can open a personal account
| Your status | Chances | What else the bank will ask |
|---|---|---|
| Resident of Hungary with an address card | high | passport, Hungarian tax number, address |
| Foreigner with a residence permit who has just moved | high | residence permit, lease or proof of address |
| Guest investor making the investment | medium to high | investment documents, source of funds |
| Owner of a Hungarian company or property | medium | company or title documents |
| Non-resident with no link to Hungary | low to medium | a convincing purpose for the account, documented income |
We will calculate online the cost of opening a personal account and maintaining it for a year.
What the bank checks
- Passport and a second ID, for residents the address card and residence permit.
- Tax number: Hungarian for residents, for others the number of the country of tax residence.
- Purpose of the account: salary, rent, buying a home, investments, family expenses.
- Source of funds: employment contract, statements, documents on the sale of a business or assets.
- Tax residence: Hungarian banks report foreigners' accounts to the tax authorities of their countries.
Instant payments in forint
Since March 2020 Hungary has had an instant payment system: forint transfers between Hungarian banks arrive within seconds around the clock, weekends included. Instead of an account number you can use a phone number or email address if the recipient has linked one. For life in the country this is convenient: rent, utilities and payments to contractors go through at once.
Deposit protection and taxes
| Question | How it works |
|---|---|
| Deposit guarantee | up to €100,000 per depositor per bank, ~$112,100, paid in forint |
| Interest for residents | 15% personal income tax and 13% social contribution tax, 28% in total |
| Interest for non-residents | usually 15% withheld at source, lower or zero under a double tax treaty with a residence certificate |
| Long-term investment account | for Hungarian tax residents only: income is tax-free after 5 years |
Dollar amounts are converted at the European Central Bank rate of 5 October 2026 and rounded up. A long-term investment account is opened for five years: if it is closed earlier, tax is charged in full or at a reduced rate, and after five years it is zero. Such an account suits those who are already Hungarian tax residents and keep part of their savings in forint.
The account and the guest investor residence permit
Hungary issues a guest investor residence permit for 10 years, renewable for another 10 years. The main route is units in a Hungarian real estate fund from €250,000, about $280,100, which must be held for at least five years. The investment money goes through a bank, so it is convenient to prepare the personal account and the source of funds check together with the application.
How the opening works
- Assessment of your status and choice of a bank that works with your profile.
- Document pack: passport, address, tax number, purpose of the account, source of funds.
- Branch visit or video call, signing the agreement.
- Card, online banking and instant payments set up.
For residents with documents the opening often takes one day. For non-residents and investors the time depends on the bank's questions and usually ranges from a few days to several weeks.
Who gets refused
The bank will refuse if the client has no link to Hungary and no clear purpose for the account, if the source of money cannot be proven with documents, or if the client or their money is linked to sanctions. We check whether the bank works with your citizenship before preparing documents.
What we do
Murblz specialists assess the chances before applying, choose a bank in Hungary, prepare documents and the explanation of the source of funds, arrange the branch visit and handle correspondence with the bank until the account is open. If you are applying for a guest investor residence permit, we handle the account and the application together. We fix the estimate in writing; the decision to open an account always rests with the bank.
What we do
- Personal account - opening assistance
See also
Company formation · Business account · Investment property · All country programs
FAQ
Can a foreigner open a personal account in Hungary?
Do I need a Hungarian tax number?
Is money in a Hungarian bank protected?
What tax is charged on interest?
Do I need an account for the guest investor residence permit?
How much does it cost to open an account with your help?
Need a personal account with a Hungarian bank?
We choose a Hungarian bank that works with non-residents, prepare the documents and explain what a local tax number gives you. Every country is in the searchable catalogue.
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