|CIB BANK HUNGARY||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to HUF||NO MINIMUM||5/7 DAYS||5.0%||452.1|
|EUR € - to HUF||NO MINIMUM||5/7 DAYS||5.0%||389.832|
|BROKER RATES||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to HUF||From £100||From 1 DAY||From 0.7%||472.564|
|EUR € - to HUF||From £100||From 1 DAY||From 0.7%||407.477|
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
Answer: Using CIB Bank Hungary services, the exchange rates shown are typical. All banks have individual rates and commission structures for international currency transfers. Find the latest exchange rates for an overseas bank using our Bank Rate Comparison below:
Save on the exchange rate conversion when transferring money overseas from your CIB Bank account in Hungarian forint, euros, the UK pound and other currencies. CIB Bank Hungary international money transfers to or from Hungary have higher transaction charges, due to a less competitive exchange rate offered by CIB Bank. Skip to: Hungary Money Transfer Specialists
Typically, sending funds to or from your CIB Bank account in Hungarian forint (HUF), the UK pound or US dollar overseas bank account will involve a margin rate of 5.0% – much higher than most currency broker rates (typically 0.7 to 1.0%).
Sending foreign currency to or from your CIB Bank account in Hungary needn’t be a complex matter, moreover, you can save time and money when you use a specialist currency broker instead.
Specialist foreign exchange companies including our recommended providers here can save you money and time on the transaction. Our recommendations are based on international coverage and office locations together with the lowest foreign exchange margin rates offered.
Example: A typical overseas currency transfer of 1,000,000 Hungarian forint (HUF) using CIB Bank services would have a transaction exchange rate margin of around 5.0% – or 50,000 HUF. Using a specialist broker, in this example TorFX – the exchange rate margin would work out at 0.7% – or only 7,000 HUF in total, which is a large saving over the bank service.
International money transfers from CIB Bank could take longer to arrive than using a private currency exchange provider and you will also need to be an existing CIB Bank account holder to use their services. CIB Bank may additionally charge a flat rate commission fee when sending money abroad into another currency and bank transfer commission fees vary depending on the amount you need to transfer. Private brokers offer commission free currency transfers, typically over a value of £5000.
Unless you pay a premium, CIB Bank’s service will take from 5 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction either same day, or next day.
CIB Bank was created in 1979 and is the second largest bank in Hungary. With a branch network present in all parts of Hungary, CIB Bank has around 450,000 customers and is a subsidiary of the Italian Intesa Sanpaolo Group.