Raiffeisen Bank to pass transaction fees to customer

Starting February 17, 2025, Raiffeisen Bank will increase transaction fees for all customers by 0.15 percentage points, with a cap at 10,000 HUF.

Author

Andrew Davison
December 06, 2024

This change follows a 1.5-fold hike in the government-imposed transaction fee. For example, transferring 100,000 HUF will now cost 225 HUF instead of the previous 150 HUF, taking into account the 50,000 HUF threshold that remains exempt from fees. Additionally, for amounts exceeding this threshold, the government fee will rise from 300 HUF to 450 HUF for every 100,000 HUF.

Changes to Cash Withdrawals and Currency Conversion

Raiffeisen Bank has also announced increases in fees related to cash withdrawals. While detailed information about the new bank card fees is not yet available due to a technical issue, it is confirmed that cash withdrawals without a bank card will increase by 0.3 percentage points. For instance, withdrawing 100,000 HUF in cash will now incur an additional cost of 300 HUF, bringing the total government charge to 900 HUF, not including the bank's own fees.

If a transfer involves currency conversion, such as sending HUF to EUR, an additional transaction fee of 0.45%—up to 20,000 HUF—will also be charged. This effectively triples the government's share of the total fee for such transactions, amounting to 0.9% and a maximum of 40,000 HUF.

Similar Actions from Other Banks

Raiffeisen Bank is not alone in this decision; most banks operating in Hungary have opted to pass the government transaction fees onto residential customers. In the first nine months of 2024, banks in Hungary reported a combined profit of 1,419 billion HUF.

For more information, visit Telex.