Nine Banks Announce Fee Increases for Business Accounts Amid Inflation
As of April 2025, several banks in Hungary will raise fees for corporate clients in line with last year's inflation rate.
In Hungary, nine banks have formally announced fee increases for business accounts, effective from April 2025. This rise in banking charges corresponds to last year’s inflation rate, which is reported to be less than 4%, specifically at 3.7%.
This marks the second general fee adjustment within six months for corporate accounts, as reported by BiztosDöntés.hu.
The fee adjustments follow the introduction of a financial transaction levy that became effective in late 2024 and increased transaction costs, including transfers and cash withdrawals, by 50% depending on the bank.
This change had significant implications for business banking operations between August and October 2024.
Under the 2013 Act on Credit Institutions and Financial Enterprises, banks are permitted to adjust their fees to reflect inflationary pressures.
Financial expert Gergely Péter from BiztosDöntés.hu noted that banks are allowed to implement fee increases based on the inflation rate for subsequent years, even if they do not fully utilize the allowed increase in a given year.
The banks announcing fee hikes include:
1. CIB Bank (effective April 1, 2025)
2. KDB Bank (effective April 1, 2025)
3. K&H Bank (effective April 7, 2025)
4. MBH Bank (effective April 12, 2025)
5. Oberbank (effective April 1, 2025)
6. OTP Bank (effective February 15, 2025)
7. Polgári Bank (effective April 1, 2025)
8. Raiffeisen Bank (effective April 1, 2025)
9. UniCredit Bank (effective from March 1, 2025).
Gránit Bank has partially announced a fee increase, set to take effect from April 15, 2025, for two of its payment fee packages.
Conversely, Erste Bank and MagNet Bank have yet to announce any inflation-based fee increases for their business accounts.
Analysts suggest that these banks may also implement the inflationary fee hikes available to them.
Business owners facing these inevitable inflation-based fee increments may look toward new banking options.
A recent development in the digital banking landscape is the emergence of e-money accounts, which can potentially offer lower fees for businesses.
E-money is recognized as a legal form of currency within the European Union and allows for full transactional banking services.
Gergely Péter highlights the entry of new financial service providers, such as BinX Zrt., promoting themselves as the first neobank in Hungary, offering business banking services at more favorable costs compared to traditional banks.
This marks the second general fee adjustment within six months for corporate accounts, as reported by BiztosDöntés.hu.
The fee adjustments follow the introduction of a financial transaction levy that became effective in late 2024 and increased transaction costs, including transfers and cash withdrawals, by 50% depending on the bank.
This change had significant implications for business banking operations between August and October 2024.
Under the 2013 Act on Credit Institutions and Financial Enterprises, banks are permitted to adjust their fees to reflect inflationary pressures.
Financial expert Gergely Péter from BiztosDöntés.hu noted that banks are allowed to implement fee increases based on the inflation rate for subsequent years, even if they do not fully utilize the allowed increase in a given year.
The banks announcing fee hikes include:
1. CIB Bank (effective April 1, 2025)
2. KDB Bank (effective April 1, 2025)
3. K&H Bank (effective April 7, 2025)
4. MBH Bank (effective April 12, 2025)
5. Oberbank (effective April 1, 2025)
6. OTP Bank (effective February 15, 2025)
7. Polgári Bank (effective April 1, 2025)
8. Raiffeisen Bank (effective April 1, 2025)
9. UniCredit Bank (effective from March 1, 2025).
Gránit Bank has partially announced a fee increase, set to take effect from April 15, 2025, for two of its payment fee packages.
Conversely, Erste Bank and MagNet Bank have yet to announce any inflation-based fee increases for their business accounts.
Analysts suggest that these banks may also implement the inflationary fee hikes available to them.
Business owners facing these inevitable inflation-based fee increments may look toward new banking options.
A recent development in the digital banking landscape is the emergence of e-money accounts, which can potentially offer lower fees for businesses.
E-money is recognized as a legal form of currency within the European Union and allows for full transactional banking services.
Gergely Péter highlights the entry of new financial service providers, such as BinX Zrt., promoting themselves as the first neobank in Hungary, offering business banking services at more favorable costs compared to traditional banks.
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