If you open an international bank account from Hungary before 2024 is over, you will instantly enhance your financial flexibility in 2025. This is especially true if you travel frequently or manage global operations. It is also good to do if you want to relocate abroad.

Why Open an International Bank Account?

International bank accounts are meant to make life easier for those with cross-border financial needs. You may want to consider an international account if you:

• Need access to multiple currencies. You can avoid expensive conversion fees by holding and transacting in foreign currencies.

• Want convenience. If you are an expat or traveler, you can easily manage your finances without being limited to your home country’s banking hours.

• Oversee business operations. You can use an international account to streamline international payments and facilitate transactions.

• Require diversification. You can safeguard several of your assets in financial systems outside of Hungary.

Opening an International Bank Account

Before you open an international account, determine why you need one. You may want better currency options or need an account for business use. You may also want to use the account to save or invest abroad. Your requirements will help you decide what type of account you need.

Find a Bank That Offers International Accounts

Several banks offer international banking services. You may want to consider a bank with a Hungarian presence or ATMs. These include HSBC (ATMs only), Citibank, and UniCredit.

You could also look at offshore options. These banks are usually located in financial hubs like the Cayman Islands, Switzerland, or Luxembourg. With an offshore account, you get tax benefits, even if you make a higher deposit.

There are online and neo-bank options such as Wise, Revolut, or N26. These typically come with low fees and multi-currency options.

Requirements to Open an International Bank Account

You must present proof of identity and address when you open an international bank account. Moreover, the bank will request to see your residence permit, passport, and work visa. You will likely need to give the bank your tax identification number and recent bank statements. You will have to explain your reasons for opening an international account.

You can open an international account in person by visiting an international bank branch in Hungry. You may also be able to open an account online. You may not have to pay a deposit if you choose a basic savings account.

If you opt for a premium or offshore account, your deposit will likely be a minimum of $5,000 to $10,000.

When you open your required account, ask about opening and maintenance fees. You will likely pay per transaction and a fee for ATM and bank card transactions.

Opening an International Bank Account Is a Strategic Move

Opening an international bank account is a good strategy if your financial needs and requirements extend beyond borders. An international bank account will improve your financial freedom and convenience. If you have any questions while opening an account, consult financial professionals to ensure you comply with Hungarian and international financial regulations.

Sources

https://imigrant-hungary.com/en/blog/open-bank-account-in-hungary-best-banks/

https://wise.com/gb/blog/opening-a-bank-account-in-hungary

https://lawyershungary.com/opening-a-bank-account-in-hungary/

https://blog.thekingdombank.com/how-to-open-an-online-offshore-banking-account-in-hungary/

https://wise.com/gb/blog/opening-a-bank-account-in-hungary

https://www.revolut.com/en-HU/

https://n26.com/en-eu/using-card-in-hungary