How to Save on Fees and Send More Money to Hungary

Information verified correct on February 21st, 2017

memento-park-Hungary

Wondering how to send money to Hungary from the U.S.? Here’s the information you need.

When you need to get money to a loved one overseas, the last thing you want to have to deal with is navigating a potentially complicated and expensive process. Sending money from the United States to Hungary doesn’t have to be expensive. Compare the transfer fees and exchange rates of the options available to you to get the most Hungarian forints for your dollar.

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Rates last updated February 21st, 2017

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Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.

With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:

  • Buying property abroad
  • Emigrating
  • Regular overseas payments
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Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
Wyre International Money Transfers
No transfer fees for finder... No transfer fees for finder.com readers. Make transfers with Bitcoin.
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
World First Foreign Exchange
Exclusive offer: $0 transfer fee ... Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 100 currencies.
USD 500 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
WorldRemit International Money Transfers
Fast... Fast, low-cost transfers to 110 countries for bank-to-bank deposit, cash pickup or mobile top-up.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
Go to site More
TransferWise International Money Transfers
Enjoy high maximum transfers into ... Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
OFX International Money Transfers
Send safe... Send safe, no-limit transfers with no fees and competitive exchange rates.
USD 150 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
Payoneer International Money Transfers
Ideal for worldwide business payments ... Ideal for worldwide business payments to more than 200 countries and 150 currencies.
USD 20
Online
Rates are always
changing, click to check
your price today
Go to site More
RIA Money Transfer
No fees for bank account ... No fees for bank account transfers and cash pickup at 240,000 locations in 130+ countries.
3 - 5 days
Online
Rates are always
changing, click to check
your price today
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HiFX International Money Transfers
Transfer money into 20 currencies ... Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.
USD 100 2 days
Online
Rates are always
changing, click to check
your price today
Go to site More
Moneycorp Exchange Experts
Full-service specialist offering competitive exchange ... Full-service specialist offering competitive exchange rates on personal international money transfers.
USD 50 1 day
OnlinePhone
Rates are always
changing, click to check
your price today
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TorFX International Money Transfers
No hidden fees and a ... No hidden fees and a best rate guarantee for 60 global currencies.
USD 150 1 day
OnlinePhoneAgent
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changing, click to check
your price today
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Wells Fargo Bank
While more expensive than other ... While more expensive than other options, securely send money to 13 Latin American and Asian countries.
USD 1 1 day
Online
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changing, click to check
your price today
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How do international money transfers work?

An international money transfer allows you to send money to a recipient overseas. Generally, a transfer involves you providing funds to a bank or an independent transfer provider, which then sends the money to your recipient in another country — in this case, Hungary. This can be done in person, over the phone, through a mobile app or online. You can use cash, a credit or debit card, or transfer funds from your bank account, which will then either be deposited into your recipient’s bank account or mobile wallet, or made available as cash for them to pick up at a location in their country.

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Banks versus money transfer companies

Ania is a third-generation Hungarian-American living and working in New York. She maintains close ties with the Hungarian cultural associations, especially since her sister moved to Budapest and married a Hungarian. Ania often sends home money for her little niece’s birthdays, Christmas and Easter, so she’s always comparing transfer services to find the best and cheapest companies.

U.S. BankMoney Transfer Service
Exchange rate$1 = $195.7380 HUF$1 = $191.65 HUF
Transfer fee$22$0
Amount received for $500$93,562.76 HUF$95,826 HUF
Transfer time24 business hours1 to 3 days
Transfer optionsBank to bank, online transferOnline transfer
Difference+2262.23 HUF

Ania has the choice between a service that delivers faster for a small fee and another service that offers free transactions with a longer delay in delivery. Should she decide to use an international money transfer service, the recipient could receive 2262.23 HUF more.

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How do I compare transfer companies when sending money to Hungary?

  • Exchange rates. See how the rates offered by one provider stack up against those offered by competitors. Also, remember that some providers may offer a great exchange rate but also charge high fees.
  • Pick-up methods. Each service offers different pick-up options, including collecting at an agency or having the money deposited directly into the recipient’s account.
  • Fees. How much will you have to pay to send the transfer? Can you avoid a transfer fee if you send a larger amount?
  • Turnaround time. Will the funds be available for your beneficiary in minutes, or will they take several working days to arrive?
  • Transfer methods. These differ from company to company. Most offer bank-to-bank transfers, online transfers and over-the-phone or in-agency transactions.
  • Minimum transfer amounts. Some services require that you send at least $50 or $100 as a minimum.
  • Customer service. s help available when you have a question regarding a transaction? Compare the availability of customer support options and hours.
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Foreign exchange rates explained
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it will yield more money when exchanging it in a country with a weak currency. For example, in December 2016, the U.S dollar was worth approximately 19 Mexican pesos. However, most countries’ exchange rates are flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.
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What are my options for sending money to Hungary from the U.S.?

  • Bank transfers. Bank-to-bank transfers may cost more than other options but they are a secure way to send money to Hungary.
  • Online money transfer providers. A reliable online money transfer company can offer fast and cost-effective transactions.
  • Money transfer companies with cash pickup options. MoneyGram and Western Union are the world’s two largest providers of this service.
  • PayPal. PayPal offers secure international money transfers to many destinations around the world.
  • Checks. International checks can be obtained from U.S. banks and then sent overseas.

Back to topFind a money transfer location near you

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How to send money to Hungary through an independent transfer provider

When sending funds to Hungary, you’ll be asked to provide the following information:

  • Your name, address, contact information and valid photo ID.
  • Your beneficiary’s name, address and information, along with their bank account info if the funds will be deposited in their bank account.
  • How much money you’re sending, in what currency and which country you’re sending it to.

Once you have completed your transaction, you will be given a tracking number. Make a note of this number so you can monitor the progress of your money transfer.

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US International Money Transfers Offers

Learn about our information service
HiFX International Money Transfers

Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.

WorldRemit International Money Transfers

Fast, low-cost transfers to 110 countries for bank-to-bank deposit, cash pickup or mobile top-up.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 100 currencies.

TransferWise International Money Transfers

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

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