In this article, you'll find out if Revolut works in Hungary, some drawbacks if it is available, and some possibilities. Stay tuned to learn more about using Revolut in Hungary.
Does Revolut Work In Hungary?
Revolut is available in Hungary, allowing users to access its range of financial services. These include spending in different currencies, earning rewards, and making international money transfers. Users can also invest in stocks and commodities, providing a comprehensive financial management tool.
In Hungary, Revolut users can benefit from features such as easy money transfers, bill splitting, and various card options. The app's functionalities are designed to offer convenience and flexibility, making it a viable option for both residents and visitors in Hungary.
Fees and Charges for Using Revolut in Hungary
Here are some general costs that users might encounter when using Revolut in Hungary:
- Transaction fees: Revolut generally does not charge fees for domestic transactions, but international transactions might incur fees depending on the type of account and the currency used.
- Currency conversion fees: When spending in a currency different from your account's base currency, Revolut may apply a small markup on the exchange rate during weekends or for certain currencies.
- Withdrawal fees: Revolut offers free ATM withdrawals up to a certain limit each month. Exceeding this limit may result in a fee, which varies based on the account type.
- Account maintenance fees: While the standard Revolut account is free, premium and metal accounts come with monthly subscription fees that offer additional benefits and higher limits.
Is Revolut the Best Option in Hungary?
Even though Revolut is available in Hungary, it might not be the best option for users due to certain limitations and restrictions that could affect the overall user experience.
- Limited ATM withdrawals: Free withdrawals are capped monthly, with fees for exceeding limits.
- Currency conversion markups: Weekend and certain currency transactions incur additional costs.
- Customer support issues: Users report slow response times and limited support availability.
- Account restrictions: Some features may be restricted based on account type and location.
- Service outages: Occasional service disruptions can hinder access to funds and transactions.
Alternatives to Revolut in Hungary
1) OneSafe
OneSafe is a leading alternative payment solution in Hungary, offering a blend of traditional and Web3 financial services. Key features include simple onboarding, global payments, and multi-currency support. With lower fees and superior customer support, OneSafe provides a seamless and secure financial experience for users.
OneSafe Reviews
OneSafe users have praised the platform for its robust features, including ACH, Crypto, Wire deposits, and virtual cards. Many users appreciate the seamless support for most businesses, making it a preferred choice for financial management. The company has garnered positive feedback for its user-friendly interface and comprehensive service offerings.
2) Wise
Wise offers a multi-currency account, international money transfers, and an international debit card, making it a viable alternative payment solution in Hungary. Key features include low fees, transparent exchange rates, and the ability to manage over 40 currencies. Wise is regulated by the FCA, ensuring secure and reliable service.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 based on 86 reviews. Users generally find the service easy to set up and use, but some have faced issues with government regulations and transaction failures without proper notifications. Check out more Wise reviews here.
3) Paypal
PayPal is a reliable alternative payment solution in Hungary, offering secure payments, global money transfers, and support for online shops. Key features include 24/7 fraud monitoring, Buyer Protection, and the ability to link multiple cards for flexible payments. These benefits make PayPal a convenient option for users.
Paypal Reviews
PayPal has an overall rating of 4.4 out of 5 stars based on 2,117 reviews. Users generally mention high transaction fees and a lengthy dispute resolution process. Check out more PayPal reviews here.
Frequently Asked Questions about Revolut in Hungary
Is Revolut available for Hungarian residents?
Yes, Revolut is available for residents in Hungary, offering various financial services.
Are there any fees for using Revolut in Hungary?
Revolut charges fees for certain services like currency conversion and exceeding ATM withdrawal limits.
Can I use Revolut for international money transfers in Hungary?
Yes, Revolut allows international money transfers with competitive exchange rates and low fees.
Does Revolut support Hungarian Forint (HUF)?
Yes, Revolut supports Hungarian Forint, allowing users to hold and transact in HUF.
What are the customer support options for Revolut in Hungary?
Revolut offers customer support through in-app chat, but response times may vary.
Begin Your Journey with OneSafe Today!
Choosing the right payment solution in Hungary is crucial for seamless financial management. While Revolut offers various services, alternatives like OneSafe provide superior features and support. Explore OneSafe for a secure and efficient financial experience. Sign up to OneSafe today!
