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Erste Bank Hungary review

Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Erste Bank Hungary pairs a Hungarian bank licence with a currency conversion fee of 0%, so forint and foreign currency balances rarely lose ground to a spread. It suits students and travellers in Hungary who want a plain account and electronic forint transfers with no separate charge inside the George package.

Key facts

Best for
Everyday banking in Hungary for students and travellers who hold a small multi currency balance.
Monthly fee
HUF 390 to HUF 1,990↗
Deposit protection
EU DGS up to EUR 100,000↗
Currency conversion fee
0%↗
Currencies
5↗
Transfer fee
0 HUF for electronic HUF transfers within the George package up to HUF 400,000 per month; the package fee already includes the monthly account management and electronic HUF transfer fees↗
Legal entity
Erste Bank Hungary Zrt.↗
Headquarters
Hungary↗
Support channels
Email, Phone↗
Audience
Students, Travelers
Official website
erstebank.hu

Savings

Rate type
Fixed↗
Access terms
Lekötött betétjét bármikor feltörheti George-on, TeleBankon vagy a bankfiókban személyesen.↗
Account kind
Fixed↗

Facts checked September 26, 2026, 4 sources

Apps and profiles

Get the app
App Store
Elsewhere
WikidataX

Pros and cons

Pros

  • A currency conversion fee of 0% on the foreign currency account, so moving between currencies costs nothing extra.
  • EU deposit protection of EU DGS up to EUR 100,000 for the balance, which an e money wallet does not carry.
  • Electronic forint transfers within the George package carry no separate charge, and the package price already covers monthly account management.
  • A fixed deposit can be broken at any time in the George app, through TeleBank or in person at a branch.

Cons

  • The George package fee is HUF 390 to HUF 1,990, where the site median is €0.
  • The currency list stops at 5 currencies, well short of the wide multi currency accounts elsewhere.
  • Support runs on email and phone only, so quick questions wait for a call or an email.

Ready to try Erste Bank Hungary?

Scored 8.9 / 10 by VaultCue.

See alternatives

Who it suits

  • Students and travellers, the groups the bank names under student and travelers.
  • Anyone wanting a bank deposit under EU DGS up to EUR 100,000 rather than an e money balance.
  • Hungarian residents who pay in forints and want electronic transfers with no separate charge in the George package.

Who should look elsewhere

  • Anyone after a cheaper monthly fee, since PayPal Colombia charges $0 a month.
  • Holders who prefer an e money balance: Skrill charges €0 a month and eToro £0.
  • People who need a longer currency basket than 5.

How Erste Bank Hungary compares

Where Erste Bank Hungary is available

Available
Hungary
Licence in Hungary
Penzugyi Szervezetek Allami Felugyelete (PSZAF) (I-2061/2004), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does the account cost each month?+

The George package carries a monthly fee of HUF 390 to HUF 1,990, which covers account management and electronic forint transfers. That sits above the site median of €0, so it is not among the cheapest accounts in the set.

How much does currency conversion cost?+

Conversion runs at 0% on the foreign currency account, so a multi currency balance is not shaved by a spread on every purchase. The account holds 5 currencies, which keeps the basket small but the conversion costless.

Is my money protected?+

Deposits sit under EU DGS up to EUR 100,000, the EU deposit guarantee. The account belongs to Erste Bank Hungary Zrt. in Hungary, so the balance is a bank deposit under that ceiling rather than money held with a payment firm.

Who supervises the bank?+

Supervision sits with Penzugyi Szervezetek Allami Felugyelete (PSZAF) in HU under licence I-2061/2004. A bank licence of that kind places deposits inside the guarantee scheme, unlike the e money and payment institution accounts that fill much of the market.

Can I break a fixed deposit early?+

Yes. The deposit is a fixed account at a fixed rate, and it can be broken at any time in the George app, through TeleBank or in person at a branch. That flexibility is what pairs a fixed deposit with an everyday account.

What does it cost to send money?+

Electronic forint transfers within the George package carry no separate charge, and the package price of HUF 390 to HUF 1,990 already covers monthly account management and those transfers. That arrangement holds within a monthly limit on electronic forint transfers.

Who is this account built for?+

The bank names student and travelers as the groups it serves, so students and travellers are the natural fit. The foreign currency account at a 0% conversion fee suits anyone who spends in more than one currency.

How do I reach support?+

Help runs on email and phone. That means a phone call or an email for account questions, and no in app chat, so simple fixes wait for someone to pick up the phone or answer the inbox.

Sources

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Licence type.

Erste Bank Hungary

Everyday banking in Hungary for students and travellers who hold a small multi currency balance.

8.9/10See alternatives