Gránit Bank Offers Competitive Rates for Currency Exchange in Budapest

Published: December 18 2023

The currency exchange market in Budapest has been disrupted in recent years by the emergence of fintech providers. However, traditional banks like Gránit Bank are offering competitive rates and services that rival those of new challengers like Revolut and Wise.

Gránit Bank offers account packages that provide cost-effective currency exchange options. With their Kamat Plusz package, users can exchange up to 500,000 Hungarian forints for as low as 400 forints per month. This is significantly cheaper compared to Revolut and Wise, which charge between 2,700 and 6,800 forints for the same amount.

Opening an account with Gránit Bank is a seamless online process that can be done through self-identification or video identification. In addition to the Hungarian forint account, users can easily open a foreign currency account within the app for free. The bank also offers free bank cards in euros and US dollars for the first year.

Gránit Bank's accounts come with additional advantages, such as attractive annual interest rates for 12-month term deposits in euros, US dollars, Swiss francs, and British pounds. Customers can earn up to 4% interest on US dollar deposits.

While fintech providers have disrupted the currency exchange market in Budapest, traditional banks like Gránit Bank are offering competitive rates and convenient services. With their account packages, users can enjoy cost-effective currency exchange options and access to additional benefits like attractive interest rates and free bank cards. Consider Gránit Bank for your currency exchange needs.

What is the purpose of the census in Hungary? The census in Hungary is conducted to gather demographic data about the country's population, including information about age, gender, ethnicity, education, and housing.

How often does the census take place in Hungary? The census takes place every ten years since 1870.

Who was supposed to participate in the 2022 Census in Hungary? Every long-term resident of Hungary, both Hungarian citizens and foreign nationals, who have been living in Hungary for at least 3 months as of 1 October 2022.

What information is collected during the census in Hungary? During the census, information is collected about individuals' age, gender, nationality, ethnicity, education, employment, and housing.

Is participation in the census mandatory in Hungary? Yes, participation in the census is mandatory in Hungary. Failure to participate or providing false information can result in fines.

How is the census conducted in Hungary? The census in Hungary is conducted through both online and offline methods. Residents receive a unique identification code, which they can use to complete the census questionnaire online. For those who do not have access to the internet or prefer a paper questionnaire, census takers visit households to collect the information.

What is the purpose of the census questionnaire in Hungary? The census questionnaire is used to collect demographic data about the population in Hungary. The data collected helps the government plan public services, allocate resources, and make informed decisions based on the needs of the population.

Is the data collected during the census kept confidential in Hungary? Yes, the data collected during the census in Hungary is confidential. The census law ensures that individual information is protected and cannot be used for purposes other than statistical analysis.

Can I refuse to participate in the census in Hungary? No, participation in the census is mandatory in Hungary. It is required by law, and failure to participate or providing false information can result in fines.

When will the results of the 2022 Census in Hungary be available? The results of the 2022 Census in Hungary are expected to be available in 2023. The data collected will be analyzed and used for statistical purposes to inform policy-making and resource allocation.