K&H HUF and foreign currency account keeping
to handle financials we offer a wide range of versatile account management products both in Hungarian forints and in other key foreign currencies
- comprehensive account keeping services under the protection of OBA
- high quality and tailored banking services
- secure electronic access from almost anywhere
- account keeping in Hungarian forints and in other key foreign currencies (EUR, USD, AUD, CAD, CHF, CNY, CZK, DKK, GBP, JPY, NOK, PLN, RON, RUB, SEK, TRY)
- electronic access over secure authentication devices
- electronically authenticated account statements
- quick and reliable fulfilment of domestic and cross-border payment transfers
- provision over accounts through the use of corporate bank cards
- preferential interest for deposits with different tenors
- cash withdrawal or cash deposit at our countrywide network of branches; or at relevant K&H ATMs
- receiving and launching collection orders
- detailed analytics of standing orders in case of yellow postal cheque payments
- managing postal payment orders in case the beneficiary has no bank account
- free of charge electronic customs payment services
The K&H HUF and foreign currency is insured by the National Deposit Insurance Fund.
who is it recommended for?
- legal entities, firms without legal entities, for social-, or other organizations
- enterprises that have to manage allocated budgets based on legal regulations
- organisations wishing to deposit subsidies received in a foreign currency
account opening process
Step 1: You will be provided a list of company documents required for opening an account and ID documents to be presented for private individuals linked to the company.
Step 2: Please, send these requested documents electronically, or present original copies to your bank advisor, so that copies are available.
Step 3: Based on the documents submitted, K&H Bank will prepare the bank documents required for opening an account. If any document is missing, we will tell you how to provide them.
Step 4: Please, print and sign the bank documents, and hand them over to your bank advisor. We will help you understand the documents, and if any documents are missing, we will tell you how you can provide them.
You can also present to your bank advisor company documents and the ID documents of private individuals linked to the company at this point.
Step 5: Based on the documents submitted we open the account.
Step 6: Once the account is opened, we will provide you with the ID device allowing you to use the Bank’s electronic systems.
Step 7: Once you receive the ID device, we will give you access to the Bank’s electronic applications, and will inform you via phone about how to use them.
which company documents are needed for opening an account?
- the Deeds of Foundation
- an official document confirming the business’s registration by the Court of Registration, issued not more than 30 days ago; except for opening a deposit account to hold the business’s stock capital (registration ruling, or, in the lack of it, a certificate issued by the Court of Registration or an extract from the Companies’ Registry showing the business’s registration number and tax ID)*
- if registration by a different authority is also required, an original copy of the application for/ruling of registration by the relevant authority
- the signature specimen, verified by a public notary, of the business’s representative assigned to represent the company and reported to the registering court, or a sample signature provided by the legal representative
For businesses, social-, and other organisations registered abroad:
- an official verification document, not older than 30 days, which confirms that the business has been registered under the legislation prevailing in its own country
- if the official document verifying the registration is not in English or Hungarian: a translation certified by the Hungarian Office for Translation and Attestation (OFFI), or a translation prepared and certified by a Hungarian public notary authorised to prepare translations
- if the Deeds of Foundation is not in English or Hungarian: a non-certified translation of the document
If the actual private individual beneficial owner cannot be established from the documents listed, further information / documents must be submitted to verify their identity.
For the list of documents required for opening an account for other forms of business associations, please see the section titled ‘Documents required for opening an account’.
* If you wish, our colleague can obtain a certified copy of your business’s on-line company registration document for the fee stipulated in the document titled ‘Announcement for business customers,’ saving you effort and time.
what documents are to be submitted by employees contacting K&H Bank?
ID documents for Hungarian citizens:
- personal ID card and address card (if the valid, registered residential address is not shown in the identity card), or
- plastic card (bank card) style driving licence and address card, or
- passport and address card.
Hungarian citizens who work and/or are resident abroad can verify their foreign residential address with a notarised document issued by the authorities of their country of residence.
ID documents for non-Hungarian citizens:
- for EU citizens: a personal identification document carrying a photo (passport or ID card), as long as it authorises the holder to stay in Hungary, or
- a personal identification document carrying a photo plus a document confirming the person’s right to stay in Hungary, or
- a personal identification document carrying a photo plus a document entitling the holder to stay in Hungary
- for non-EU citizens: passport.
The residential address of non-Hungarian citizens can be confirmed with an official document issued by the Hungarian authorities or an official document issued by the foreign authorities (e.g. driving licence).
what help does K&H Bank offer when switching banks?
Obtain the company registration document
If a company registration document issued not more than 30 days ago is not available, we can help you obtain one for a fee
We can notify the authorities
K&H Bank reports the new bank account number to the Court of Registration, through which the National Customs and Excise Authority (NAV) also finds out about the change. This means that you do not have to report it separately to the Court of Registration and the National Customs and Excise Authority (NAV)
We help you inform your business partners of the change in your account number
We give you ‘Account number has changed’ stickers, which makes it easier for you to inform your partners of your account number
If you use direct debit, regular transfer and/or postal payment order services, we can offer you the following help:
Authorisation for entering direct debits and regular transfers
Please, ask for a list of your current direct debits and regular transfers from your current account holding bank, as this accelerates the registering of orders with K&H Bank
For this, at the account holder’s request, every account holding bank must issue a form titled ‘Certificate of authorisation to set up direct debits’.
Enter direct debit orders as the collecting entity.
In order to launch a direct debit, it is necessary to conclude an agreement, and give the direct debit’s ID. Based on these, K&H Bank reports the direct debit to the GIRO Central Registry on-line.
Direct debit ID structure: A+8 characters (tax ID) or A+8 characters (tax ID) +T+3 characters (site code).
We wish to point out that information concerning the entry, modification or cancellation of authorisation orders submitted by your clients and business partners to their respective banks can only be forwarded by a bank that is authorised to forward such authorisations, and is registered as such. De-registration by the previous bank with GIRO Zrt. and registration by the new bank must take place within the same one-month period (between the middle of a given month and the middle of the next month- GIRO Zrt. gives the exact date every month). Registration is taken care of by K&H, while de-registration can be arranged by you, via your previous account holding bank.
yellow postal payment cheques (cash payment order)
We provide detailed analytical records of any payments of yellow postal payment cheques via the new account. A separate agreement is to be concluded for this service.
Yellow payment cheques linked to the account take a few weeks to produce. This is how long it takes for the printing house to produce the cheques. For the printing of yellow payment cheques, you must use a printing house that holds a production code approved by the Clearing Centre of Magyar Posta (PEK) - (for a list of the printing houses please, visit the website of Magyar Posta). We can help you secure the approval of Magyar Posta for the new payment cheques.
Please, note that if payments by payment cheques linked to the previous account being cancelled do not reach their destination, the money will reverted to the sender after fee deduction.
K&H HUF and FX account management in the municipalities sector
Convenient account management and other services designed especially for municipalities.
a full range of banking services for non-profit, sports and church organisations
We offer a complex package of services to churches, sports and other non-profit organisations active in Hungary.