Close a Bank Account in Hungary

• This service is essential for expatriates, residents, or individuals with financial ties to Hungary who wish to close their existing Hungarian bank accounts. 
• It's particularly relevant for those relocating, dealing with the estate of a deceased relative, streamlining their finances, or switching to more advantageous banking services.

To close a bank account in Hungary, the account holder must be present or provide a written authorization if the account has multiple owners. Key prerequisites include:

• Valid identification documents
• Settlement of any outstanding balances or debts linked to the account
• Closure of related services (e.g., credit cards, loans)

1. Initial Consultation: Understand client’s specific banking situation, including linked services and outstanding debts.
2. Documentation and Authorization: Ensure all necessary documents are prepared and submitted.
3. Closure Request: Formally request the bank to close the account, either in person or via written communication.
4. Settlement of Charges: Handle any pro rata service charges or fees for transferring remaining funds.
5. Confirmation: Obtain official confirmation of account closure from the bank.

• Expert Guidance: Navigate the complexities of Hungarian banking regulations with professional assistance.
• Smooth Transition: Ensure all financial obligations are met to avoid future complications.
• Cost Management: Minimize or avoid unnecessary charges during the account closure process.

• No Closure Fee: Most Hungarian banks do not charge a specific fee for account closure.
• Handling Linked Services: Terminate or transfer credit facilities, insurance, or other linked services.
• Fund Transfer Assistance: Manage the transfer of remaining funds to a new account, including handling associated costs.
• Debt Settlement: Advise on and facilitate the settlement of any linked loan or overdraft facilities.
• Multi-owner Accounts: Coordinate with all account holders for a seamless closure process.
• Regulatory Compliance: Ensure adherence to Hungarian banking regulations during the closure.