Since 1 February 2014, people in Hungary have been able to withdraw cash twice a month free of charge, up to a maximum of HUF 150,000 (EUR 385). However, as of last week, this option has been discontinued at OTP Bank ATMs for those using bank cards issued by foreign banks. This change has significantly impacted many Revolut and Wise users.
According to Blikk, from 19 September, free cash withdrawals are no longer available at OTP Bank ATMs when using cards issued by foreign banks.
Free cash withdrawal ends in Hungary – here are the new prices
OTP Bank’s announcement states that foreign cardholders will face the following charges from last Friday:
- For withdrawing Hungarian forints, a fee of HUF 1,999 (approx. EUR 4.5) applies for withdrawals up to HUF 150,000. This means withdrawing HUF 150,000 will actually cost HUF 151,999.
- For withdrawing euros, the maximum amount per withdrawal is EUR 100, with a EUR 4.99 (approximately HUF 1,940) fee. So, withdrawing EUR 100 will cost a total of EUR 104.99 from the account.
OTP is not the first Hungarian bank to charge extra fees for cash withdrawals using foreign bank cards. Erste Bank has been imposing an additional HUF 1,200 fee for some time. Revinfo also highlights that both Revolut and Wise may charge extra fees, potentially linked to monthly limits or the number of withdrawals.
Notably, Revinfo reports that other Hungarian banks’ ATMs still allow free cash withdrawals with foreign-issued cards.
Impact on euro cash access
Due to OTP’s change, obtaining euros without fees will become harder. Previously, it was possible to withdraw EUR 100 multiple times per day without charge, allowing larger fee-free withdrawals—especially useful for travellers.
History of free cash withdrawals in Hungary
Free ATM withdrawals have been available in Hungary since 1 February 2014, introduced as part of a financial relief regulation by the Fidesz-KDNP parliamentary majority. The 2014 election campaign was heavily focused on these relief measures, which also included reduced gas and electricity prices.
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Since then, people have been allowed two free cash withdrawals per month up to HUF 150,000 in total. Despite inflation and rising wages (the average gross salary in Hungary now nears HUF 700,000), this limit has never increased.
Will the free cash withdrawal limit rise?
In 2024, there was a proposal from the DK party to raise the monthly free withdrawal limit from HUF 150,000 to HUF 250,000. The governing parties were surprisingly open to this, and it passed the Consumer Protection Subcommittee in late October last year. However, no further progress has been made, though action before the 2026 parliamentary elections remains possible.
Banks find the current system unfavourable—especially any increase—due to a 0.9% transaction tax on cash withdrawals that they cannot pass on to customers directly. Banks may adjust their charges elsewhere to compensate.
Alternative cash access: Penny and Coop
Since 1 July 2023, it has been technically possible to withdraw cash from store POS terminals, between HUF 1,000 and 20,000. This measure aims to help rural areas where ATMs are scarce.
However, most retail chains have yet to adopt this option widely. It’s mainly available in Penny Market and some Coop stores, which are often found in smaller communities. Recognising this, the government launched an ATM installation programme. The risk of Revolut and Wise withdrawing from Hungary due to these changes was briefly a concern.
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Weird. As an EU-member, money withdrawal from an ATM should always be free, without any fee.
THis is regulated in EU.
In Belgium, you can withdraw 1000euro/weekly and there is no charge.
THis is ridiculous paying a charge for withdrawing your own money.
Also some banks are FREE in Belgium like Argenta, Keytrade…
So Hungarian banks should follow the rules and cannot charge extra when foreigners withdraw money
All bank and building society ATMs in the UK are free of charge, as are most located in supermarkets, petrol stations, railway stations, etc., which are generally operated by one of the aforementioned banks. It’s just one of those things I always took for granted until I moved to Hungary. Another thing is that while you may bank with A, you can use the machines of banks B, C and D at no charge, which to my knowledge is unknown in Hungary where you only get free withdrawals at your bank’s own ATMs.
Does anyone know which banks in Hungary don’t presently charge ATM fees?
OTP bank has extremely poor customer service after having their cash dispensing machines eat 3 of my cards in a period of 4 years and a charge for a withdrawal that their machine did not dispense and then treat me like criminal over the telephone when I reported it to them that was the last straw. . I avoid all of OTP bank ATMs and use cash dispensers of other banks and have never had a problem. Please do yourself a favour and avoid their ATMs when possible.