Beware: Certain Bank Cards Unsafe in Hungary
Foreigners and locals in Hungary seeking banking services may want to be careful when using the ATMs of Erste Bank. In a recent move, it has introduced new fees and restrictions that predominantly impact those with foreign bank accounts. Erste Bank has imposed an additional 1,200 HUF fee (equivalent to EUR 3.2) when withdrawing cash from its ATMs, and customers can only withdraw a maximum of HUF 150,000 (EUR 400) daily from Erste’s machines with foreign cards. This decision could affect those who have relied on Erste ATMs in the past, as the charge would still apply even if the withdrawal is free according to the package provided by the foreign bank. In addition, Erste Bank recently implemented Dynamic Currency Exchange, meaning the ATM asks for a customer’s preferred exchange rate for withdrawing Hungarian forint with an international bank card. It is advisable for customers to opt for their own bank’s exchange rate to get better offers than the domestic bank. Customers can avoid this step by converting their currency to HUF in the bank’s app before using their card.
