You may want or need to open a bank account in another EU country. If you study at ELTE with a Hungarian governmental scholarship (e.g., Stipendium Hungaricum), you are required to open a Hungarian bank account where your scholarship will be transferred.

How to open a bank acoount?

The bank is free to choose whether or not to accept your application. That is a private business decision for the bank. Before opening a bank account, the bank needs to get to know its potential clients. This may require more due diligence in assessing bank account requests from non-residents. Some banks may therefore have a policy not to accept non-resident costumers. To open a bank account, you must present your passport and another identification document (such as driver’s license, tax card, etc.). If you are a non-EEA student, it is usually necessary to have a valid residence permit and address card in order to open a bank account, although some banks allow foreigners to open an account with just the presentation of a passport.

In Hungary banks are typically open on weekdays from 8:00 a.m. until 4:00 p.m. Banks are not open on Saturdays except some branches in shopping centres. 

Automatic teller machines (ATMs)

ATMs can be found anywhere in Hungary and Budapest. Hungarian banks charge a commission for using ATMs. Note that higher service charges might apply for using an ATM that is not operated by the bank that issued your bank card. You don’t have to worry about exchanging Hungarian Forint before your arrival and carrying cash with you. ATM machines are widely available in major cities, and they accept Visa and MasterCard.