Published: March 07 2023
Summary: As of 2019, the Hungarian net minimum salary has increased to HUF 154,270, higher than the limit for fee-free withdrawals from ATMs. This means that it is impossible to withdraw the full salary in cash without paying fees. The limit was introduced in 2014, allowing two free cash withdrawals, up to a maximum of HUF 150,000, per month.
Key Points:
- The Hungarian net minimum salary reached HUF 154,270, exceeding the amount that can be withdrawn for free from ATMs
- In 2014, it was introduced that people are allowed a total of two withdrawals per month up to a maximum of HUF 150,000 for free
- Thus, most banks in Hungary require fees in the order of 3,000 to 4,000 HUF per year even for small amounts of cash withdrawals
- This also applies to people who want to withdraw the GMI (Guaranteed Minimum Income) of 197,106 HUF or the average pension of 208,200 HUF
Source article:
This summary was created using AI, so there may be some inaccuracies. Always check the original linked article to be sure.
