Best way to send money to Hungary | finder.com

How to send money to Hungary

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If you want to transfer money to friends or family in Hungary, you don’t need to deal with a complex 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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    Compare money transfer services to Hungary

    I want to send

    to

    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
    USD 0 3 - 5 days USD 0.00 281.245 HUF 1,406,224 Transfer up to $500,000 with no minimums and no fees. Go to site Show details
    USD 1,000 1 day USD 0.00 281.103 HUF 1,405,514 No maximum limit, no fees and competitive exchange rates for 100+ currencies. Go to site Show details
    USD 1 1 - 2 days USD 7.00 281.387 HUF
    1,404,963
    Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
    USD 1 Within an hour USD 3.99 280.819 HUF 1,402,976 Use promo code FINDER to send your first transfer with no fee.
    Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.
    Go to site Show details
    1 - 2 days USD 0.00 280.536 HUF 1,402,678 Get live quotes on exchange rates and take advantage of no transaction fees with no limits on transfers. Go to site Show details

    Compare up to 4 providers

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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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    Steps to send money to Hungary

    • Choose one of the providers who sends money to Hungary and provide your name, address, contact information and valid photo ID.
    • Supply your beneficiary’s name, address and information, along with their bank account info if the funds will be deposited in their bank account.
    • Enter the amount of money you’re sending and complete your transaction.
    • Maintain any receipt you receive in order to monitor your transaction.
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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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    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.

    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 January 2018, the US dollar was worth approximately 267.53 Hungarian forints. Like most countries, Hungary has a flexible exchange rate, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.
    Currency exchange rate for Hungary
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    US International Money Transfers Offers

    Important Information*
    XE Money Transfer

    Transfer up to $500,000 with no minimums and no fees.

    WorldRemit International Money Transfers

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    Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

    World First

    No maximum limit, no fees and competitive exchange rates for 100+ currencies.

    TransferWise

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

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    US International Money Transfers Offers

    Important Information*
    XE Money Transfer

    Transfer up to $500,000 with no minimums and no fees.

    WorldRemit International Money Transfers

    Use promo code FINDER to send your first transfer with no fee.
    Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

    World First

    No maximum limit, no fees and competitive exchange rates for 100+ currencies.

    TransferWise

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

    Go to site