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Erste Bank
Information updated on 07.07.2009
Main information on the bank
Country of registration, main office, number of branches: Hungary, Budapest
82 branches in Hungary
Year of foundation: Erste Bank der Österreichischen Sparkassen AG was founded in 1819. Erste Bank Hungary was formed in 1997 with the acquisition of the Hungarian Mezőbank Rt.
Credit rating: A3 (Moody’s)
Main shareholders: Erste Bank der Österreichischen Sparkassen AG.
Information on the opening of accounts, main features of accounts
Type of account: Current account (corporate and individual)
Documents required for the opening of accounts: Corporate Accounts: passports of signatories, registration documents of the company with Apostille. If the company is more than 1 month old, a Certificate of Good Standing with Apostille is also required.
Individual accounts: passports of signatories
Time required for the opening of accounts: 1 day
Restrictions on the opening of accounts: No restrictions
Personal appearance of signatories required: Yes
Minimum balance required in the account: A minimum amount, equal to 20 000 EUR, must be deposited within one month of the account being open.
Methods of making payments : Telefax, home banking program, Internet banking
Home banking through fax modem: Yes Charges: installation fee - 40 000 HUF* monthly fee – dependent on turnover, but max. 3 200 HUF
Internet banking: Yes Charges: free of charge
Credit / debit card types and possibilities: VISA Electron, VISA Business
Deposit required in card accounts: For Visa Electron cards: no deposit required
For Visa Business cards: 100 000 HUF
Fee charged by the bank for the opening of accounts: Free of charge
Account maintenance fee: 19 EUR/month
Basic charges imposed by the bank
Charge for incoming transfers: 0.075 %, min. 4 EUR – max 80 EUR
In the case of extremely high turnover, special individual conditions can be arranged.
Charge for outgoing transfers: By electronic means: 0.13%, min.12 EUR. By fax: 0.2%, min. 30 EUR
Express transfer in EUR, USD, paper based: 0.2%, min. 22 EUR
Express transfer in EUR, USD, by electronic means: 0.175%, min. 15 EUR
No upper limit !
Charge for cash withdrawals: 0.250%, min. 1 EUR    No upper limit!
Charge for cash deposits: 0.107%, min. 1 EUR    No upper limit!
* 1 EUR = 275,330 HUF; 1 USD = 203,51 HUF (24.01.2011)
The conditions imposed by the banks regarding the opening of accounts may change from time to time. Therefore, we recommend consultation with the staff of LAVECO LTD., who will be able to provide up-to-date information, before making a final decision on the choice of bank.
Fee charged by LAVECO LTD. for the opening of accounts in Erste Bank: 475 EUR
Fee for arrangement of bank cards: 200 EUR (up to 4 cards)
European offices

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