Banking & Money in Hungary: what actually matters to know
Real experience of people from chats on «Banking & Money» in Hungary — as it is, no fluff. For your case — ask Luky.
From real experience
Travelers departing from Budapest (Hungary) may occasionally face random customs checks regarding the possession of Euro currency, especially for those transiting to non-EU countries. While not systemic, travelers should be prepared for potential questioning and personal belongings inspection.
In Budapest, card payment (including non-Russian cards) is widely accepted. Cash is only occasionally needed for specific public toilets in parks or city outskirts. Most malls and tourist spots accept cards universally.
Russian banking applications (e.g., Sberbank, T-Bank) remain functional within Hungary. Users report they can access their accounts, check balances, and perform intra-bank transfers normally while in the country.
EU sanctions prohibit the export of Euro banknotes to Russia. Border authorities at airports (e.g., Budapest) perform random, thorough manual searches, including carry-on luggage. Travelers should avoid carrying Euro cash when exiting the EU for Russia; converting to USD is a recommended workaround.
Inquire about the functionality of Armenian bank cards (e.g., Artsakh Bank, Ardshinbank) in Europe. Confirm if these cards are accepted for transactions.
Linking Russian payment cards to mobile payment services like Google Pay in Budapest can be challenging. While some users have managed to link cards to Apple Pay via VPN after multiple attempts, Google Pay may require a foreign SIM card or may not function correctly due to network location restrictions. Google Pay generally becomes accessible outside of the Russian Federation. Some Android devices, like the OnePlus 11 5G, may not support eSIM but offer alternative services like ORoaming for local provider payments without a physical SIM card.
Russian bank cards (e.g., Rosselkhozbank) do not function in Hungary. Accepted payment methods are foreign bank cards or cash. While euros can be exchanged, the local currency is the Hungarian Forint (HUF), and it is recommended to use HUF for transactions or a foreign bank card.
For Hungarian 'D' student visas, both fund movement and remaining balance are crucial. The applicant must demonstrate sufficient funds for tuition, accommodation, and living expenses. Countries like Germany require a deposit, and Slovakia mandates an account in a non-Russian bank.
When paying via card abroad, always choose the local currency (HUF in Hungary) on the POS terminal. Choosing the currency of the card (USD/EUR) triggers Dynamic Currency Conversion (DCC), which usually results in worse exchange rates compared to the card issuer's conversion, leading to unnecessary financial loss.