Revolut Expanding in Hungary: Now Hiring for Local Branch
Revolut, a leading fintech company known for its rapid growth, is making strides towards establishing a branch in Hungary. With over 1.5 million users already in the country, the company is actively recruiting professionals to build its local workforce, showcasing a strong commitment to expanding its presence in the Hungarian market.
The move towards establishing a local office comes after Revolut had been delivering its services to Hungarian users from abroad for some time. The company is now in the process of setting up a local branch, with positions such as Legal Counsel and Regulatory Compliance Manager being advertised on LinkedIn for skilled experts with relevant experience. Balázs Györffy, Revolut’s Manager of Expansion, confirmed these developments, emphasizing the company’s efforts to establish a presence in Hungary as part of its global expansion strategy.
In a strategic decision, Revolut has opted to open a branch in Hungary rather than a subsidiary, meaning that the company will continue to operate under its Lithuanian banking license. This choice brings advantages for Hungarian users, including the provision of Hungarian IBAN numbers for easier salary transfers and local transactions, as well as Hungarian-speaking customer service for improved support.
While navigating regulatory challenges, such as Hungary’s evolving tax and fee structure, Revolut remains dedicated to growing its operations in the country. Despite the introduction of transaction taxes on currency exchanges, Revolut has absorbed these costs to benefit its customers, although sustainability in the long term may be a consideration.
For Revolut’s customers in Hungary, the establishment of a local branch signifies enhanced services, faster transactions, and improved customer support. The introduction of Hungarian IBAN numbers will streamline processes for users, particularly those receiving salaries through Revolut, reducing delays and fees associated with transferring funds to a Lithuanian account. With a focus on expanding its user base to 2 million by 2025, Revolut aims to strengthen its presence and popularity in Hungary with the introduction of localized services and solutions.
Overall, Revolut’s establishment of a branch in Hungary marks a significant step forward for the company and its users in the country, promising a more seamless and efficient banking experience for all.
