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Cash transactions (depositing money into, and withdrawing money from, an account).

Having an account with a Hungarian bank gives a unique opportunity to carry out cash transactions almost entirely without restrictions.

Depositing cash into a corporate or personal account is subject to minimal restrictions, the nature of which depends on the policy of each specific bank: for example, up to 100,000 US dollars per week may be deposited in certain banks. When depositing larger amounts, the bank will require a document concerning the origin of the money. Other banks have no restrictions at all on the amount of cash being deposited.

The withdrawal of cash from the account is also easy. Only in the event of large withdrawals (over 20,000 US dollars) is it necessary to advise the bank in advance of the intention to withdraw the money, so that they can have the required amount ready. When issuing the money the bank automatically supplies an export permit for the currency.

No documents are required when transferring money from a currency account of a company or a private person either. To perform the transaction it is sufficient to send a signed payment order, including the code word, by post or fax. In the case of large transfers, the banks may ask for contracts and invoices to be presented.

A number of banks also offer the opportunity to have corporate and personal debit cards (VISA, MASTERCARD etc.).

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