Significant Changes in Hungarian Government Securities Purchasing Process
Effective May 15, 2025, new account number requirements for funds transfers to the Hungarian State Treasury.
As of May 15, 2025, individuals looking to purchase government securities in Hungary must adhere to new regulations regarding bank transfers.
The Hungarian State Treasury (Magyar Államkincstár, MÁK) has introduced changes to the bank account number format, impacting how purchases are processed.
Previously, customers transferred funds to a central collection account, typically ending in eight zeros, while indicating their individual eight-digit customer identification number in the remarks section.
This process has now been abolished.
Customers must now use their unique individual account number comprised of 24 digits (3 sets of 8 digits) when making transfers for government securities.
The new account number structure is designed to streamline transactions, ensuring that each purchase can be directly linked to the individual's account.
The last eight digits of the new unique account number may include parts of the previous customer identification number, but it is no longer necessary to provide this ID in the transaction remarks, as the account number alone suffices for identification purposes.
Recent reports indicate that many customers have experienced failed transfers to the Treasury's securities account.
Funds often returned almost immediately to the sender’s bank account, or, if not processed as instant transfers, reappeared within hours, leading to the appearance that the Treasury had rejected the transaction.
The Treasury clarified that such issues stem from the changes in their system rather than errors on the part of the sending banks.
In focus, the updated transfer system also affects Start Accounts set aside for Baby Bonds (Babakötvények).
Customers are advised to seek out their new individual account numbers through two primary platforms: the MobilKincstár application and the WebKincstár online interface, accessible via the official Treasury website.
Information regarding the new account number is available in personal profiles on both platforms.
The Hungarian State Treasury (Magyar Államkincstár, MÁK) has introduced changes to the bank account number format, impacting how purchases are processed.
Previously, customers transferred funds to a central collection account, typically ending in eight zeros, while indicating their individual eight-digit customer identification number in the remarks section.
This process has now been abolished.
Customers must now use their unique individual account number comprised of 24 digits (3 sets of 8 digits) when making transfers for government securities.
The new account number structure is designed to streamline transactions, ensuring that each purchase can be directly linked to the individual's account.
The last eight digits of the new unique account number may include parts of the previous customer identification number, but it is no longer necessary to provide this ID in the transaction remarks, as the account number alone suffices for identification purposes.
Recent reports indicate that many customers have experienced failed transfers to the Treasury's securities account.
Funds often returned almost immediately to the sender’s bank account, or, if not processed as instant transfers, reappeared within hours, leading to the appearance that the Treasury had rejected the transaction.
The Treasury clarified that such issues stem from the changes in their system rather than errors on the part of the sending banks.
In focus, the updated transfer system also affects Start Accounts set aside for Baby Bonds (Babakötvények).
Customers are advised to seek out their new individual account numbers through two primary platforms: the MobilKincstár application and the WebKincstár online interface, accessible via the official Treasury website.
Information regarding the new account number is available in personal profiles on both platforms.
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