Bank and Saving accounts in Hungary

I'm using Granit, they're OK, you get what you pay for. Their Granit Pay service is very convenient, I can pay with my Android at stores with Paypass terminal.

For savings, Cetelem gives you the highest interest rate, but again, you get what you pay for.

I chose these on principle, I'd like to support "direct banks", that try to be innovative, develop their on-line services instead of maintaining hundreds of offices, but the hungarian ones have a long way to go... I'd think twice if I want to give up convenience to save 20-30.000HUF per year...

Pascal_974 wrote:

withdrawal fees...

By law Hungarian, valid (i.e. Hungarian residents or those with a valid Hungarian address) account holders with Hungarian banks can have two free ATM withdrawals a month, at any ATM in Hungary, up to 150,000 HUF.

klsallee wrote:

Pascal_974 wrote:

withdrawal fees...

By law Hungarian, valid (i.e. Hungarian residents or those with a valid Hungarian address) account holders with Hungarian banks can have two free ATM withdrawals a month, at any ATM in Hungary, up to 150,000 HUF.

Yes, but you have to explicitely request it and sign a form at your bank for that. Also, some banks offer more or even unlimited cash withdrawals, but don't see the point, really, as even most of the smaller shops have card terminals.

atomheart wrote:

Yes, but you have to explicitely request it and sign a form at your bank for that.

Which is not difficult to do, especially when one is newly opening an account.

atomheart wrote:

Also, some banks offer more or even unlimited cash withdrawals

The options vary between banks, but most banks offer free withdraws only at their own ATMs. The law allows free withdrawals from any ATM nation wide. Which is very nice for me, since my bank closed their local branch and took their ATM machine with them. It is a 30 minute drive to their closest branch/ATM now.

atomheart wrote:

but don't see the point, really, as even most of the smaller shops have card terminals.

I live in the countryside. Still a lot of small shops where I live do not have card reading terminals. Some do not even take credit/debit cards at all. And that includes the local computer store, which you would think if anyone would be tech forward thinking, it would be them. But they are not. And the very small scale original producers at the farmers market selling some extra veggies from their garden, will never have a terminal. It is an all cash deal with them.

And some people just like to use cash at time of purchase. At times this is simply a generational issue.

Cash and carry only. Nothing worst then standing in a long line while the 4 people ahead of you pull out a debt or credit card to buy one can of beer and a bag of chips.
Exact change is even better but takes a person who can add numbers in their heads quickly, a lost skill these days.
If you speak Hungarian it should be pretty easy to ask questions in person at any bank.

" Nothing worst then standing in a long line while the 4 people ahead of you pull out a debt or credit card to buy one can of beer and a bag of chips."

Does it take less time to pull out the cash?

atomheart wrote:

" Nothing worst then standing in a long line while the 4 people ahead of you pull out a debt or credit card to buy one can of beer and a bag of chips."

Does it take less time to pull out the cash?

I think it was pretty clear that "pull out a debit or credit card to buy one can of beer" includes all the steps to use a card to complete the purchase (such as inserting the card, entering the pin code, confirming the amount, etc.**) Not just the time to pull the physical card out of the wallet.

** And yes, of course that can take longer for some people than just handing over cash and getting change from the cashier.***

*** Assuming the cash purchaser is not trying to make an exact cash payment and sifts through their coins looking for an elusive 5 Forint coin.

I didn't want to argue others' convictions or preferences, just in my experience (/subjective perception) nothing beats the speed/convenience paying with a Paypass card. (I know, not all stores have paypass terminals...)

atomheart wrote:

nothing beats the speed/convenience paying with a Paypass card.

Agreed. But Marilyn was pretty clearly only talking about the more ubiquitous, normal "dumb" debit/credit cards.

No time at all if you are prepared and ready, not spending other people's valuable time on your cell phone while in line.
Of course if one can not count then they wouldn't be ready to have exact change or even find their wallets, fumbling around when you know you have to pay up.
Of course we all should be patient with a older lady or a person who obviously has a physical disability.
Young able bodied people who hold up lines are just not with the program.
It is so much easier to just hand out a card, guess that's ok in the long run as well, those interest rates will catch  with one sooner or later.