By
October 21, 2026
Can a Hungarian company use a business account from another EU country?
Hungary is an established European business destination, attracting entrepreneurs, international investors and companies operating across the European Union.
As businesses increasingly conduct transactions across borders, many Hungarian company owners are exploring whether they can use business accounts provided by banks and payment institutions established in other EU countries.
For companies receiving payments in euros, working with international suppliers or serving customers throughout Europe, a business account from another EU Member State can offer greater flexibility.
But can a Hungarian company legally use a business account from another EU country?
Yes. A Hungarian company can generally open and use an additional business account with an eligible bank or payment service provider established in another EU country. However, Hungarian companies subject to mandatory payment account requirements must generally maintain at least one domestic Hungarian business payment account.
This means that a foreign EU account may be useful for international business activities, but it should not automatically be treated as a replacement for the company's required domestic account.
This article explains the legal requirements, advantages, limitations and practical considerations for Hungarian companies using business accounts from other EU countries.
Yes. A company incorporated in Hungary may apply for a business account with a financial institution established in another EU Member State.
The European Union provides a framework supporting cross-border financial services and payments.
Depending on the provider, a Hungarian company may be able to open an account in another EU country without establishing a separate subsidiary or branch there.
However, the financial institution must be willing and authorised to provide the relevant services to the company.
Account approval is subject to customer identification, anti-money laundering checks, beneficial ownership verification and the provider's internal eligibility requirements.
A Hungarian company does not have an automatic right to approval for every business banking product offered within the EU.
Yes. Hungarian companies subject to mandatory business payment account rules generally must maintain at least one domestic payment account.
This requirement is particularly relevant to Hungarian legal entities, including limited liability companies.
The domestic payment account is used to meet the company's financial and tax payment obligations.
Consequently, a Hungarian company cannot simply assume that an account maintained exclusively with a foreign EU bank or payment institution will satisfy all Hungarian legal requirements.
The distinction is important because the ability to receive international payments through a foreign account does not necessarily remove the obligation to maintain a domestic account.
Companies should confirm that their domestic account arrangements satisfy Hungarian tax administration rules.
Yes. A Hungarian company may maintain more than one business account.
For example, a company may use its domestic Hungarian account for local payments and statutory obligations while maintaining an additional EUR account with a financial institution in another EU country.
This arrangement may be particularly useful for businesses receiving payments from customers in Germany, France, Italy, Malta or other European markets.
The foreign account can support eligible international transactions, while the domestic account remains available for Hungarian payment obligations.
Companies should ensure that all business accounts are properly recorded in their accounting systems and reported to the relevant authorities where required.
There are several reasons why a Hungarian business may consider an additional account in another EU jurisdiction.
Hungary is a member of the European Union, but its national currency is the Hungarian forint (HUF).
Companies trading with customers in the euro area may prefer to receive payments directly in euros.
An EUR-denominated business account can help reduce unnecessary currency conversions.
An account supporting the Single Euro Payments Area can allow businesses to send and receive eligible euro payments across participating European countries.
This may be useful for paying suppliers, receiving invoices and managing recurring international transactions.
Companies with customers, suppliers or commercial partners across multiple European markets may benefit from having an account designed for cross-border payments.
Some international financial institutions provide online onboarding, digital payment tools and remote account administration.
These features may be particularly useful for companies with foreign shareholders or directors.
Maintaining separate accounts may help businesses distinguish domestic HUF operations from international EUR payments.
This can simplify financial administration and cash flow monitoring.
Yes. A Hungarian company may use a foreign IBAN for eligible business transactions.
An IBAN is an internationally recognised account identifier used for electronic payments.
For example, a Hungarian company may receive an IBAN beginning with the country code of another EU Member State if its account is provided through an institution in that jurisdiction.
The IBAN does not necessarily need to begin with HU for the company to receive international payments.
However, a foreign IBAN alone does not establish that the account satisfies Hungary's domestic business payment account requirements.
Companies should distinguish between using a foreign IBAN for international transactions and maintaining the domestic payment account required under Hungarian legislation.
Yes. A Hungarian company can generally receive SEPA euro transfers through an account provided by a participating financial institution.
SEPA enables eligible euro payments between participating countries using harmonised payment standards.
For businesses trading internationally, this can simplify the collection of customer payments and the settlement of supplier invoices.
For example, a Hungarian consultancy company providing services to customers in several EU countries may receive payments in euros through a foreign EU business account.
However, the company should confirm that the provider supports the required SEPA payment services.
Not every account offers identical transfer functionality, transaction limits or payment processing arrangements.
This depends on the financial institution.
Some cross-border payment providers support Hungarian forint transactions, while others primarily offer EUR payment services.
A provider may allow currency conversion between HUF and EUR without offering the same domestic payment functionality as a Hungarian account.
Companies making regular payments to Hungarian suppliers, employees or public authorities should therefore verify whether the foreign account supports the required payment methods.
Where domestic payment account obligations apply, the company must also maintain the appropriate Hungarian account.
Hungarian companies should distinguish between the technical ability to transfer money to the Hungarian tax authority and the legal rules governing how mandatory tax payments must be made.
Hungarian taxpayers subject to domestic payment account requirements are generally required to make applicable tax payments by transfer from their domestic payment account.
Although international transfers to Hungarian tax authority accounts may be technically possible, a foreign account should not automatically be treated as an acceptable substitute for the required domestic payment arrangement.
Companies should ensure that tax payments are made using the appropriate payment method and account details.
The correct procedure can depend on the taxpayer's legal status and the type of tax being paid.
Yes. A Hungarian company owned by foreign shareholders may apply for a business account with an eligible financial institution in another EU country.
Foreign ownership does not automatically prevent account opening.
However, the provider will normally assess the company's ownership structure, business activities and expected transactions.
Where shareholders are foreign corporate entities, additional documentation may be required to identify the ultimate beneficial owners.
Providers may also request information about the company's source of funds, commercial operations and countries of activity.
Account approval remains subject to the institution's onboarding and compliance procedures.
A Hungarian company with a non-resident director may be eligible for a business account with a financial institution in another EU country.
However, the provider must accept the director's country of residence and identification documents.
Some providers support remote identification, while others require additional verification or an in-person meeting.
The availability of online onboarding depends on the provider's policies and the company's ownership structure.
Non-resident directors should confirm the eligibility requirements before submitting an application.
Yes. Some banks and authorised payment institutions offer digital applications for eligible companies established in other EU Member States.
Online onboarding may allow the company to submit its application, upload corporate documents and complete identity verification remotely.
However, fully remote account opening is not guaranteed.
Companies with complex ownership structures, foreign directors or higher-risk activities may face additional verification requirements.
Some institutions may also restrict services to businesses incorporated or managed in particular jurisdictions.
The exact requirements vary between providers.
A Hungarian company should generally prepare the following documentation:
The provider may also request invoices, contracts, financial statements or a business website.
Documents issued in Hungarian may require translation depending on the financial institution's procedures.
Hungarian companies considering foreign business accounts should understand the differences between traditional banks and other regulated payment service providers.
Banks may offer business current accounts, domestic and international transfers, payment cards, lending facilities and other financial services.
Eligible bank deposits may be covered by the applicable deposit guarantee scheme.
Authorised payment institutions may offer payment accounts and electronic transfer services.
Their regulatory permissions determine which services they can provide.
Payment institution accounts are not necessarily bank deposit accounts.
Electronic money institutions may provide electronic money accounts and payment services, depending on their authorisation.
Customer funds are generally subject to safeguarding requirements rather than ordinary bank deposit guarantee arrangements.
Businesses should verify the provider's regulatory status, the type of account offered and the protections applicable to customer funds.
Hungarian companies should consider whether opening or maintaining a foreign financial account creates reporting obligations.
The applicable requirements depend on the company's tax status, the type of account and the relevant legislation.
Foreign financial accounts may also be subject to international tax information exchange arrangements.
Companies should ensure that their accountants have accurate information about all business accounts and that any required notifications are completed.
A foreign account does not remove the company's Hungarian accounting, tax reporting or recordkeeping obligations.
Yes. A Hungarian company may generally provide foreign EU account details to customers for eligible payments.
For example, a company issuing invoices in euros may include the IBAN of its EUR business account.
This can make payment collection more convenient for customers in other European countries.
However, invoices must still comply with applicable Hungarian invoicing and tax requirements.
The use of a foreign IBAN does not change the company's legal identity, place of incorporation or tax obligations.
IBAN discrimination generally refers to the improper refusal of an eligible payment account solely because its IBAN originates from another participating country.
EU rules concerning SEPA payments prohibit certain forms of discrimination based on the Member State in which a payment account is located.
For example, where the relevant legal conditions apply, a payer or payee should not insist that an account be located in a particular Member State merely to process an eligible SEPA payment.
However, these protections should not be confused with national legal requirements concerning mandatory domestic business payment accounts.
The ability to use a foreign IBAN for eligible SEPA transactions does not automatically eliminate Hungarian tax administration obligations.
Although foreign EU business accounts can offer advantages, companies should consider several limitations.
A foreign account may not satisfy Hungary's mandatory domestic payment account requirement.
Some providers may not support local HUF payment services.
International transfers and currency conversions may involve additional fees.
Account approval may also be more complicated for companies with foreign shareholders or non-resident directors.
Furthermore, the legal protections applicable to funds may differ depending on whether the provider is a bank, payment institution or electronic money institution.
Businesses should evaluate these factors before relying on a foreign account for their operations.
The most suitable account depends on the company's business model and transaction requirements.
A Hungarian company primarily serving domestic customers may place greater importance on HUF payment functionality and local banking services.
An international consultancy, software development or trading company may prioritise EUR accounts and SEPA transfers.
Businesses should also consider onboarding requirements, account maintenance fees, transaction costs, currency conversion charges and customer support.
Where the company must maintain a domestic Hungarian payment account, an additional EU account should be selected to complement rather than replace that arrangement.
Yes. Hungarian companies may generally use additional business accounts from eligible financial institutions in other EU countries, subject to applicable legal and provider requirements.
A Hungarian Kft. generally must maintain at least one qualifying domestic business payment account.
Generally, no. Companies subject to Hungary's mandatory domestic payment account requirements should not assume that a foreign EU account satisfies those obligations.
Yes. A Hungarian company may use a foreign IBAN for eligible payments, including supported SEPA euro transfers.
Yes. A Hungarian company can receive EUR payments through a business account that supports the relevant payment services.
Some financial institutions offer online applications and remote onboarding for eligible Hungarian companies.
Yes, subject to the provider's eligibility, identification and compliance requirements.
Yes. Hungarian companies may maintain multiple accounts, provided they comply with applicable legal, accounting and reporting obligations.
Generally, yes, where the account supports the relevant transactions and the payments comply with applicable requirements.
The legal requirements depend on the taxpayer's status and the payment concerned. Companies subject to mandatory domestic payment account rules should generally use their required domestic account for applicable tax payments.
It may be useful for companies receiving euro payments or conducting international transactions, particularly when maintained alongside a qualifying domestic account.
No. Opening a foreign business account does not, by itself, change a company's tax residency or eliminate its Hungarian tax obligations.
Hungarian companies can generally open and use business accounts provided by eligible financial institutions established in other EU Member States.
These accounts can offer useful advantages for businesses receiving euro payments, making SEPA transfers and managing international commercial activities.
Foreign EU accounts may be particularly relevant to companies with international customers, suppliers or shareholders.
However, Hungarian companies subject to mandatory business payment account rules generally need to maintain at least one domestic payment account.
A foreign account should therefore not automatically be treated as a replacement for the company's required Hungarian account.
For many internationally active Hungarian companies, maintaining a compliant domestic payment account alongside an additional EU business account can provide a practical combination of local compliance and international payment flexibility.
Before opening an account, companies should verify the provider's eligibility criteria, payment capabilities, regulatory status and applicable Hungarian legal requirements.
Disclaimer: This article provides general information as of October 2026 and does not constitute legal, tax or financial advice. Payment account requirements, regulatory conditions and provider eligibility criteria may change. Businesses should confirm current obligations with a qualified Hungarian adviser and their chosen financial institution.
