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Finally: Revolut customers in Hungary to receive local bank account numbers!
Revolut has officially obtained the necessary permissions to establish a branch in Hungary, according to the registry of the Hungarian National Bank (MNB). This means that Hungarian customers will soon receive HU IBANs — that is, domestic Hungarian bank account numbers — instead of having to rely on Lithuanian ones.
MNB approval confirmed
A reader of revinfo.hu was the first to notice that “Revolut Bank UAB Magyarországi Fióktelepe” now appears in the MNB’s online records, with the registration dated 23 October 2025. The appearance of the branch means that all regulatory approvals for operating in Hungary are in place.
Revolut’s customer support documentation has also been updated, clearly stating:
If you are a Hungarian customer and currently have an LT (Lithuanian) IBAN, once your account is migrated to the Hungarian (HU) branch, you will receive a HU IBAN. You may continue using your existing LT IBAN, but your account will be identified going forward by the new HU IBAN.
Why is this important for Hungarian users?
Until now, HUF balances held in Revolut accounts were tied to international Lithuanian bank accounts, meaning that Hungarian banks could only transfer money to them as international payments. This caused several inconveniences:
- Some online banking systems did not support it smoothly
- Transfers could cost several thousand forints
- Payments could take several business days to arrive
A domestic bank account number will solve all these issues. For example, salaries will be able to be paid directly into Revolut accounts, HUF transfers will become faster and cheaper, and Revolut may even become the primary bank account for many Hungarian users.
Currently, an estimated 1.5–2 million people in Hungary use Revolut.
This may also be significant after OTP’s ATM withdrawal restrictions
Recently, OTP Bank tightened its rules, ending free cash withdrawals using Revolut and other fintech cards. With a local branch and HU IBANs in place, the situation may shift again, as the British neobank will begin to operate as a fully recognised domestic financial player.
Revolut will also have to pay more taxes
Hungarian banks have long lobbied for Revolut to be subject to the same regulations as domestic financial institutions, Portfolio reports. With the establishment of the Hungarian branch, the neobank will be required to pay:
- the bank levy
- and the extra profit tax
This brings Revolut’s operational conditions closer to those of traditional Hungarian banks.
What does this mean in practice?
- Every Hungarian Revolut user will soon receive a HU IBAN;
- Money transfers between the British neobank and Hungarian banks will become simpler, faster and cheaper;
- More people may begin using Revolut as their everyday bank account.
Love it! The banks will now have to work harder to compete with Revolut on a more equal playing field and they will have to cut fees if they don’t want to lose business. It means more money in the pockets of Hungarians.
And I have more info I haven’t shared with anyone. Plus I have other things I’m looking out for that will also make the news.