Bank Account in Hungary for KFT: Complete Guide 2026

Opening a bank account in Hungary is one of the mandatory steps to establish a KFT: the minimum share capital must be paid into an account registered in the name of the company in formation. But choosing the right bank goes far beyond bureaucratic compliance — it influences operational costs, the speed of international payments, and the daily management of your business.

In this guide, you will find a comprehensive overview of the options available in 2026: traditional Hungarian banks, international banks with a local presence, and fintech alternatives.

Why a Hungarian bank account is needed for a KFT

A Hungarian bank account is necessary for:

• Payment of share capital (mandatory before registration)
• Receiving payments from Italian and European clients
• Paying suppliers and local operating expenses
• Paying Hungarian taxes (NAV)
• Dividend distribution to shareholders
• Banking compliance required by Hungarian authorities

Traditional Hungarian Banks: Overview

OTP Bank

The largest Hungarian bank by assets and territorial coverage. It is the most common choice for newly established KFTs due to its branch network, advanced online banking, and familiarity with foreign clients.

• Pros: extensive network, online banking in English, experience with foreign companies
• Cons: slower bureaucracy, average costs
• Business account: from ~5,000-8,000 HUF/month fee

K&H Bank (KBC Group)

Part of the Belgian KBC group, it offers quality business banking services with good English support and a modern digital platform.

• Pros: reliable European group, good digital banking, multilingual support
• Cons: fewer branches than OTP
• Business account: from ~4,000-7,000 HUF/month

Raiffeisen Bank Hungary

Part of the Austrian Raiffeisen group, particularly suitable for entrepreneurs with international operations and frequent transfers to the SEPA area.

• Pros: excellent for international operations, support in German/English/Italian
• Cons: slightly higher costs
• Business account: from ~6,000-10,000 HUF/month

UniCredit Hungary

Italian presence in the Hungarian banking system. Ideal for those who already have relationships with UniCredit in Italy and want to simplify cross-border management.

• Pros: connection with the Italian banking system, support in Italian
• Cons: limited network, higher costs

Bank Comparison: Costs and Services

Required Documents for Account Opening

To open a business account for a KFT, the following are generally required:

• Certificate of company registration (Cégjegyzék kivonat) — obtained after registration with the Court
• Articles of Association (Alapító Okirat) authenticated
• Identification document for all shareholders and the managing director
• Hungarian tax identification number of the managing director
• Proof of address of the registered office in Hungary
• Ultimate Beneficial Owner declaration (UBO declaration)
• Summary business plan (required by some banks)

Account Opening Procedure

Phase 1 — Pre-opening (temporary account)

Before company registration, a temporary account must be opened for the payment of the share capital. Some banks allow it to be opened with only the identity document and the draft Articles of Association.

Phase 2 — Final account opening

After registration with the Court (1-5 days), the definitive business account is opened. A physical presence at the branch is generally required at least once. We assist our clients in arranging the bank appointment.

Phase 3 — Service activation

Activation of online banking, business debit cards, access to SEPA and international (SWIFT) transfers.

Fintech Alternatives: Wise, Revolut, and others

Fintech solutions are increasingly used as a complement (not a substitute) to traditional Hungarian bank accounts:

Wise Business

• Multi-currency IBAN (EUR, HUF, GBP, USD, and others)
• Very competitive exchange rates
• 100% online opening, no fixed monthly fee
• Ideal for frequent international payments
• Limitation: not accepted by all banks for share capital payment

Revolut Business

• Multi-currency account with virtual and physical cards
• Plans ranging from free to premium
• Great for daily operating expenses
• Limitation: not a regulated bank in Hungary, does not replace a local bank account

Recommended strategy: OTP or K&H account for compliance and capital payment + Wise Business for low-cost international payments.

International Transfers from the KFT

The KFT can make international transfers to Italian or other EU country accounts without particular restrictions, in compliance with anti-money laundering (AML) and KYC regulations. For transfers above certain thresholds, banks require supporting documentation (invoices, contracts).

• SEPA transfers: free or low-cost to the entire euro area
• SWIFT transfers: for non-EU transfers, variable fees
• Dividend distribution: subject to 15% Hungarian withholding tax at source

Hungarian IBAN: Format and Use

The Hungarian IBAN has the following format:

• Country prefix: HU
• Check digits: 2 digits
• Account number: 24 digits
• Total: 28 characters (e.g., HU42 1177 3016 1111 1018 0000 0000)

The Hungarian IBAN is fully compatible with the SEPA system and accepted by all European banking institutions for euro transfers.

Frequently Asked Questions about Bank Accounts for KFT

Can I open a Hungarian bank account without being physically present?

For traditional banks, at least one branch visit is generally required. Some banks accept a notarized power of attorney for the initial phase. Wise Business is the only completely remote solution, but it does not replace a local bank account for all compliance requirements.

How long does it take to open an account?

A temporary account can be opened in 1-3 days. The definitive account, after company registration, generally takes 1-2 weeks, including the bank's KYC checks.

Can I use an Italian bank account for a Hungarian KFT?

No. Hungarian law requires a bank account with an authorized institution in Hungary for the payment of share capital and for local tax compliance.

Do Hungarian banks accept foreign clients without residency in Hungary?

Yes, but with more stringent KYC procedures. OTP, K&H, and Raiffeisen have experience with foreign shareholders and managing directors. The process is smoother with the assistance of a local consultant.

How we can help you

Elevate Advisory Group assists its clients at every stage of the banking process: from choosing the most suitable bank for your operations, to arranging branch appointments, up to the full activation of services. We also manage integration with fintech solutions to optimize international payment costs.

Contact us for a free consultation. Or learn more by reading our guides on how to open a KFT in Hungary and on the 9% Hungarian flat tax.