2022. April 19.

Banking support of Ukraine

Almost immediately after the outbreak of the war in Ukraine, Hungarian banks reacted to the humanitarian crisis by taking measures to help refugees in Ukraine.

Support provided by banks and action taken:

  • Helping Ukrainian citizens to open accounts and perform bank transactions, providing information in their mother tongue in some banks.
  • Several banks have introduced special services, including the exchange of Ukrainian hryvnias into Hungarian forints in designated branches, up to a certain value limit.
  • Several banks have made bank transfers to Ukraine free of charge and do not charge any device fees in respect of this service.
  • Some banks reimburse the bank fees charged for transfers from the accounts of private individual customers to Ukraine or from the accounts of private individual or business customers to charity organisations playing a key role in providing humanitarian aid.
  • Instant grants, partly through own foundations and partly directly, to humanitarian organisations present in Hungary, including the Hungarian Maltese Charity Service, the Charity Service of the Hungarian Reformed Church, the Hungarian Red Cross, Interchurch Aid, UNICEF and the Bridge for Transcarpathia Programme.
  • Collecting non-perishable food, clothing and other donations in kind; purchasing medicines and transporting them to collection points or even to the other side of the border;
  • Transporting refugees from the border, providing accommodation and food;
  • Assistance in obtaining residence permits in Hungary;
  • Providing jobs for Ukrainian bank workers;
  • Healthcare;
  • Educational support for children, finding educational opportunities, providing laptops and Internet for distance learning, holding student sessions;

Employee initiatives:

- Collecting financial donations;

- Collecting and delivering donations in kind to families that have remained in Transcarpathia - where women, children and elderly people have been left alone; as well as to refugees who have fled to Hungary;

- Volunteering: mentoring, transport and travel arrangements.

Banks in Hungary will take into account the request of the European Banking Authority to ensure compliance with the sanctions, and facilitate access to basic payment accounts for refugees. The establishment of the customer relationship, the opening of payment accounts and the depositing of cash into the account always take place in accordance with the effective anti-money laundering and counter-terrorist financing rules, regardless of nationality. The Hungarian banking sector continually monitors the international situation and the sanctions introduced in the wake of the Russian-Ukrainian conflict, and acts accordingly.