Opening a Business Bank Account in Hungary (2026 Guide)

Do you need a business bank account in Hungary?

Yes. Every Hungarian company, whether a Kft (korlatolt felelossegu tarsasag, limited liability company), a Bt (limited partnership) or a Zrt (private company limited by shares), must hold a corporate bank account at a Hungarian bank. The account is opened in person by the company manager, usually within 8 days of registration, and it is the account the tax authority (NAV) expects to see for paying corporate tax, VAT and payroll (source).

This is a separate step from registering the company itself, and one piece of the wider process of starting a business in Hungary. The company exists first, once the court records it, and the bank account follows. A personal account or a foreign account in your own name does not count, and a fintech wallet on its own will not satisfy NAV for official payments.

The good news for foreign founders: a Hungarian company can be fully foreign-owned, and both the owner and the manager can be non-residents. The banking step is straightforward once you know which documents to bring and that the manager has to appear in person.

When must you open the account, and can it be done remotely?

The corporate account must be opened shortly after the company is registered. In practice Hungarian banks apply an 8-day window, and the account has to be opened in person by the company manager (source). This is the one part of the setup that cannot be delegated with a power of attorney: the person who signs for the company has to be physically at the branch.

Remote opening is generally not available for a newly formed company with foreign officers. Some banks will let you begin the paperwork while the company is still in formation, but the account is activated only once registration is confirmed and the manager has attended. Plan for the process to take a few weeks rather than a single afternoon, and book the appointment early.

Non-resident directors can open the account, though each bank applies its own risk checks. A non-EU manager may be asked for a residence permit or a Hungarian address, while EU nationals usually pass with a passport or national ID. Requirements differ from bank to bank, so it pays to call ahead.

What documents do you need to open a business account?

Banks run a full know-your-customer check, so the list is longer than for a personal account. Prepare the company file and personal identification for every director and beneficial owner before the appointment.

Most Hungarian banks ask for the following:

• The company deed of foundation or articles of association and the certificate of incorporation, showing the company registration number, tax number and statistical code.
• The specimen signature (alairasminta, notarised signature sample) of each authorised representative.
• A valid passport or national ID for each director, shareholder and ultimate beneficial owner.
• Proof of the registered office address of the company.
• A UBO (ultimate beneficial owner) declaration, a PEP (politically exposed person) declaration and a FATCA declaration (source).

Expect the bank to also ask about the source of funds, the expected turnover and the countries you will trade with. Since compliance rules tightened, these questions are standard, and vague answers slow the file down. If your registered office is a virtual address, bring the service agreement, because the bank will want to see a valid seat.

Which banks suit foreign-owned companies?

The largest corporate banks are OTP Bank, K&H (part of the KBC group), Erste Bank, Raiffeisen, UniCredit and CIB. All offer business accounts, online banking and debit cards, and the bigger Budapest branches handle English-speaking clients regularly (source).

For a foreign-owned company the practical questions are simple: does the branch serve you in English, how responsive is the account manager, and how modern is the online and mobile banking. OTP has the widest network, while banks tied to international groups (K&H, Erste, Raiffeisen, UniCredit) can be easier if you already bank with the same group abroad.

You will need at least one account in Hungarian forint (HUF), because that is the currency of tax payments and most local invoices. Many companies add a euro sub-account for cross-border trade. Compare monthly package fees, transfer charges and card costs, since these vary widely by bank and by the size of the account.

Can you use Revolut or Wise for a Hungarian company?

They are useful, but not as a replacement. A Hungarian company must have a corporate account at a Hungarian bank, and NAV accepts tax payments only from a Hungarian bank account (source). Revolut and Wise are strong for holding multiple currencies, receiving international client payments and cutting foreign-exchange costs, so many founders run them alongside a local account.

The picture has shifted recently. Revolut has been migrating Hungarian clients onto Hungarian IBANs through its local branch, which means tax can technically be paid from such an account. Even so, a dedicated Hungarian corporate account remains mandatory. Wise functions as an online money account that holds HUF and moves money across borders, rather than a full local bank account.

One cost to keep in mind: since 1 July 2022 Hungary's financial transaction duty also applies to cross-border providers such as Wise and Revolut when they serve Hungarian clients (source). So routing money through a fintech does not escape the levy.

How much does a business bank account cost?

There are two layers of cost: the bank's own fees, and a national transaction tax. Monthly account packages, transfer fees and card fees differ from one bank to the next, and larger accounts often pay more, so it pays to compare offers rather than assume they are similar.

On top of bank fees, Hungary charges a financial transaction duty on outgoing payments. Since 1 August 2024 the rate on transfers is 0.45%, capped at HUF 20,000 per payment transaction, while cash withdrawals are taxed at 0.9% (source). Banks pass this on, so it shows up on business payments and is worth building into your budget.

These banking costs are modest against the wider tax picture that draws founders to Hungary: a flat corporate tax of 9%, the lowest headline rate in the EU, alongside a standard VAT of 27%, the highest in the EU. Your Hungarian accountant reconciles the bank statements against these filings each month.

How to open the account, step by step

Once the company is registered, the sequence is short and predictable:

1. Register the company. The account can only be opened after the court records the Kft or other form, since the bank needs the company number and tax number.
2. Assemble the document file listed above, including specimen signatures and the UBO, PEP and FATCA declarations.
3. Book an appointment at a Budapest branch and confirm which languages and documents they accept.
4. Attend in person as the manager, sign the KYC forms and the account agreement, and set the opening deposit if the bank asks for one.
5. Activate online and mobile banking, and order the business debit card.
6. Give the account details to your accountant so tax and payroll run from the correct account.

The minimum share capital of a Kft is HUF 3,000,000 (about 7,500 EUR), but you do not need to deposit all of it before the company exists, as part can be contributed in cash and paid in later under the deed (source).

Common mistakes foreign founders make

The most frequent error is treating the bank account as optional, or as something a fintech app fully covers. It is a legal requirement tied to the 8-day window, and skipping it delays your ability to invoice, pay staff and settle tax cleanly.

Two more traps: assuming the manager can send someone else with a power of attorney (they cannot, for this step), and arriving with an incomplete file. A missing specimen signature or an unclear source-of-funds answer can push a same-week opening into a multi-week back-and-forth. Confirm the exact checklist with your chosen bank, then bring everything in one visit.

Finally, keep the local account even after adding Revolut or Wise. The local HUF account is what NAV and your bookkeeper rely on, and it keeps your Hungarian company fully compliant.

Frequently asked questions

Can a non-resident foreigner open a business bank account in Hungary?

Yes. A Hungarian company can be fully foreign-owned, and a non-resident can be its manager. The manager must open the account in person at the branch. Non-EU managers are sometimes asked for a residence permit or a Hungarian address, while EU nationals usually pass with a passport, so it is worth checking the bank's policy in advance.

How long does it take to open a corporate bank account?

Expect a few weeks rather than a single day. Some banks let you prepare paperwork while the company is still in formation, but the account is activated only after registration is confirmed and the manager has attended in person. Booking the appointment early and bringing a complete document file is the fastest route.

Can I pay Hungarian taxes from a Revolut or Wise account?

A Hungarian corporate account is mandatory, and the tax authority accepts tax payments only from a Hungarian bank account (source). Revolut now issues Hungarian IBANs to local clients, so payment is technically possible, but the local corporate account still has to exist. Wise is best used alongside a local account for multi-currency needs.

Do I have to open a HUF account, or can I use only euros?

At least one account in Hungarian forint is needed, because taxes and most local invoices are settled in HUF. You can add a euro or multi-currency sub-account for cross-border business, but the forint account is the one your accountant and the tax office will rely on.

Is the business bank account really required within 8 days?

Hungarian banks apply an 8-day window after company registration for opening the corporate account, and the manager must attend in person (source). Treat it as a same-week task after the company is recorded, and book the appointment as soon as registration is confirmed.