Fintech giant Revolut has officially begun the gradual rollout of Hungarian bank account numbers to its customers in Hungary, marking a major step in the company’s local expansion and potentially reshaping how millions of Hungarians use digital banking services.
The company announced on LinkedIn on Tuesday morning that some newly registered customers are already receiving Hungarian IBAN account numbers as part of a phased introduction. Existing users will also gradually be migrated from Lithuanian accounts to Hungarian ones in the coming months.
According to fintech blog Revb, around 2.3 million Hungarian users are expected to be transferred in smaller waves under the newly established Hungarian branch of Revolut Bank UAB.
What changes for Hungarian users?
The move follows regulatory approval granted to the neobank last autumn to establish a Hungarian branch operation. The introduction of local bank accounts brings several practical advantages for users.
Most importantly, customers will now be able to receive salaries directly into their Revolut accounts using a Hungarian account number, something that has long been a limitation for many users relying on the platform as their primary banking solution.
The local rollout will also enable Revolut to support Hungarian-standard payment systems, including instant domestic bank transfers and qvik payments, making the app more compatible with everyday financial services in Hungary.
Gradual transition already underway
Gábor Petrás, the neobank’s Hungarian country manager, recently told Portfolio that a limited test phase had already begun in March involving a small group of customers.
At the time, he said existing customers could start being migrated to Hungarian accounts from 18 May at the earliest, although the broader rollout was later postponed to 26 May. From now on, the migration is expected to continue progressively until all eligible users are transferred to the Hungarian branch.
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Hungary joins growing list of Revolut local branches
With the official launch of the Revolut Bank UAB Hungarian branch, Hungary joins a growing group of European countries where the neobank maintains local branch operations, including France, Ireland, Italy, Netherlands, Romania, Spain, Germany, Portugal and Belgium.
Revolut said payment account-related services for customers joining the Hungarian branch will now be provided locally, while other services will continue to be handled by other entities within the Revolut Group, as before.
Customer deposits will remain protected up to EUR 100,000 under Lithuania’s deposit insurance scheme.
Our previous related article: Revolut to start moving Hungarian users to local bank accounts within days
