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Payment Instructions

General instructions for international payments to banks in HUNGARY:

To send payments to Hungary, the remitter should ensure all necessary bank information is obtained from the beneficiary, including SWIFT BIC, IBAN, and beneficiary bank address. Please include the SWIFT BIC with branch identifier (where required), full name, and address of the beneficiary bank. Ensure that the correct SWIFT BIC is used as it is key to routing payments to the beneficiary bank. The SWIFT BIC is either 8 or 11 alphanumeric characters, formatted as xxxxHUxx or xxxxHUxxxxx.

Payments over EUR 12,500 between residents and non-residents must be reported to the National Bank of Hungary.

The SEPA standards and strict formatting apply to euro payments to beneficiaries holding accounts in Hungary, requiring both IBAN and SWIFT BIC. For Euro transactions, use SEPA guidelines.

For Hungarian Forint (HUF) payments, amounts must be entered in whole numbers without decimal places.

Payment Formatting Rules:

• Ordering Customer (SWIFT MT103 F50): Must include the account number, full name (no initials), and address. The use of initials can delay fund receipt by the beneficiary.
• Beneficiary Customer (SWIFT MT103 F59): Must include IBAN, full name (no initials), and address. The use of initials may delay fund receipt by the beneficiary.

There are no specific additional bank clearing codes required in Hungary for cross-border payments.

IBAN: Yes

Correspondent Banks

Standard Settlement Instructions (SSI) contain the list of correspondent banks of ERSTE BANK HUNGARY ZRT for each currency.

Payment Tracking

To track a SWIFT cross-border payment to or from ERSTE BANK HUNGARY ZRT, you need a UETR code, reference number, amount, payment date, and currency. This information is typically found in an MT103 form.

Related SWIFT-codes

Disclaimers

We are doing our best to demystify cross-border payments, however TrackMySwift is not responsible for any delays or losses related to usage of the information and services from our web site. Please contact your banks to receive a safe advise. Country-specific payment instructions have been prepared based on Global Wires Payments Formatting Requirements Guide from J.P.Morgan.