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We at Debrecen4U, the Debrecen Expat Office, provide free advice and guidance on matters affecting everyday life in Debrecen, including the following information:
Banking
In Debrecen, several banks offer different services to customers.
1.Currency & Banking Information
Even though Hungary is a member state of the European Union, it is not part of the Eurozone. The official currency of Hungary is called the forint, abbreviated as HUF or Ft. It is issued in both note and coin forms. Forint notes currently in use include the 500 Ft; 1,000 Ft; 2,000 Ft; 5,000 Ft; 10,000 Ft, and 20,000 Ft. Coins are issued in denominations of 5 Ft; 10 Ft; 20 Ft; 50 Ft; 100 Ft, and 200 Ft.
Banking hours in Hungary are from 8-9 a.m. to 4-5 p.m. from Monday to Thursday, while on Friday, banks tend to close early, usually at 3 or 4 p.m. Banks are closed on Saturdays and Sundays.
Banks offer a wide range of services to their customers in Hungary. General services include deposits and withdrawals, account management, overdrafts, credit services, mobile banking, savings account, as well as loans and mortgage services. ATM and mobile SMS services are also available. Internet banking is now common. This is a 24-hour service through which you can review and pay bills, withdraw or transfer money, check your account balance, apply for credit, recharge for prepaid services such as phone minutes, and access foreign exchange rates online.
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2.Opening a bank account
When opening a bank account, foreign citizens can open either a Forint, a Euro, or a US Dollar account. Minimum deposit requirements are usually the equivalent of USD 100.
When opening a bank account in Hungary, the following documents need to be presented: a valid passport, a valid address card or accommodation certificate, and a letter from the employing company with proof of income. Depending on the bank, country-specific additional documents may be required. There are specific fees associated with opening a bank account in Hungary.
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Hungary provides a wide array of banks that foreign citizens can choose from depending on their needs. Some Debrecen-based major banks with walk-in branches and secure ATMs across Hungary include:
- CIB Bank
- Erste Bank
- K&H Bank
- MKB Bank
- OTP Bank
- Raiffeisen Bank
- TakarÃĐk Mortgage Bank
- UniCredit Bank
Smaller banks and saving cooperatives offer similar services to their customers.Â
To find out where to find the various banks and branches in Debrecen, visit our database of service providers.
3.Money exchange points
Many banks offer currency exchange to their customers for a fee.
There are also many money exchange points spread across the city where one can exchange foreign and Hungarian currencies.
To find out where to find the various money exchange points in Debrecen, visit our database of service providers.
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