What are the payment methods in Hungary?

28 Aug 2023 By PAYCEC

Hungary offers a diverse range of payment methods, catering to the needs of both consumers and businesses. Hungary’s payment methods encompass traditional methods as well as modern digital options. Here are some of the commonly used payment methods in Hungary:

• Cash: Cash is widely accepted in Hungary, and it remains a prevalent payment method for daily transactions. Hungarian Forint (HUF) is the official currency, and it is advisable to carry some cash for small purchases, local markets, or establishments that may not accept card payments.
• Card Payments: Card payments are widely accepted Hungary’s payment methods. Major international card networks like Visa, Mastercard, American Express, and Diners Club are commonly used.

Chip-and-PIN technology is prevalent, ensuring secure transactions. Card payments are accepted at various businesses, including shops, restaurants, hotels, and online retailers.

• Online Bank Transfers: Online bank transfers are a popular payment method in Hungary. Customers can initiate payments directly from their bank accounts using online banking platforms. This method is commonly used for bill payments, online purchases, and person-to-person transfers.
• Mobile Payments: Mobile payment services have gained traction as Hungary’s payment methods. Providers like Google Pay, Apple Pay, and mobile wallet apps offer the convenience of making payments using smartphones or wearable devices. These services are linked to users' credit or debit cards and offer secure contactless payment options.
• E-Wallets: E-wallets such as PayPal, Skrill, and Neteller are widely accepted in Hungary. These digital wallets allow users to store funds and make online payments securely. E-wallets are commonly used for online shopping, money transfers, and peer-to-peer payments.
• Bank Transfers: Bank transfers, both domestic and international, are commonly used for larger transactions such as property purchases or business transactions. Hungarian banks provide secure and efficient transfer services.
• Cash-on-Delivery: In certain cases, particularly with online shopping, cash-on-delivery (COD) is offered as a payment option. With COD, customers pay in cash when the goods are delivered to their doorstep.

It's important to note that the availability of payment methods may vary depending on the specific establishment, online retailer, or service provider. It is advisable to check Hungary's payment methods before you make a purchase or conduct a transaction.