Open an account with the MKB Bank

14.12.2018

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If you want to open an account with the MKB Bank, you have correctly done that you received for advice from specialized experts. Our specialists provide professional support in opening accounts for non-resident companies in one of the most reliable Hungarian banks (MKB Bank), which is among the top five in this jurisdiction.

About the bank

MKB Bank was founded in the mid-20th century, when it was necessary to participate in international trade. The name MKB stands for Magyar Külkereskedelmi Bank. At the international level this financial institution is called Hungarian Foreign Trade Bank.

By opening an account with the MKB Bank, you can be sure that your choice is correct.

Hungarian Bank MKB Bank or, internationally, Hungarian Foreign Trade Bank is considered the best and safest bank in Hungary. This country is one of the most favorable banking territories in all of Europe, having a strong base and meeting international standards.

Key advantages of MKB Bank

You can open a multi currency account with MKB Bank or open an account in EUR and USD. The bank offers more than 13 currencies (HUF, CHF, GBP, AUD, JPY etc).

Also, you have an opportunity to open an account for a company with Hungarian Foreign Trade Bank in RUB. The bank avoids cooperation with individuals, but if you will specify Russian rubles in payment order, the bank will transfer the money to the partner from the client’s account.

Other benefits of opening a corporate account WITH MKB Bank:

A full list of credit services;
Online and mobile banking;
English-speaking staff;
Credit and debit cards (VISA/Mastercard);
Asset management, safe custody, investment and insurance services.

Tariffs:

A bank fee for opening an account is 2100 HUF (6,76 EUR);
An account maintenance is 2900 HUF (9,34 EUR);
Transactions are 0.055%, from 4,2 EUR to 110 EUR.

It is worth noting that bank tariffs depend on the currency of your choice. We recommend you requesting qualified advice on opening accounts with banks in Hungary, in the process of which you will also be able to learn in detail about the tariffs of MKB Bank.

How to open an account WITH Hungarian Foreign Trade Bank?

Please note: there is a high probability of bank confirmation for opening an account;
Hungarian Foreign Trade Bank opens accounts only subject to the personal presence of the beneficiary;
Personal visit for 1 day is required;
Terms for opening an account are 2 weeks from the date of submission of a full package of documents;
Our expert will assist you at all stages of opening the account with MKB Bank;
The bank collaborates with LP (Limited Partnership), regardless of registration conditions (for individuals or legal entities).

Main features of registration process:

The presence of Russian-speaking staff
No requirements for translation of the documents into Hungarian.
The bank does not require a Hungarian mobile phone to open an account
No requirements for availability of a company website.

Preparation of documents

If you are planning to open an account with this bank, you will need to provide the following:

The documents of the company;
An English translation of the documents (certified);
The beneficiary's passport;
A confirmation of a residential address (for example, utility bill).

It is important to know: if your company has been operating for more than one month, in this case MKB Bank requires an extract from the Business Register (Good Standing and Incumbency).

The so-called SMS-banking (SMS account management service) is opened only for Hungarian mobile phone numbers. If necessary, we can provide you with support in registering a Hungarian mobile phone number and activate the service.

THE REASONS FOR REFUSAL TO OPEN AN ACCOUNT

MKB Bank refuses to open accounts if the beneficiary, director or trustee:

Have a criminal record;
Manage a company with a corporate director;
Directly related to policy.

Also, MKB Bank will not confirm your application if the company has a multi-level structure of several legal entities.

There is no minimum initial deposit, but it is recommended to make a contribution of at least 5000 EUR on the account. When the Hungarian Foreign Trade Bank does not see any activity within two weeks from the moment of opening the account, then the probability of closing the account is high.

Experienced YB Case experts will provide professional advice on opening an account with Hungarian Foreign Trade Bank in any currency. For more information, please use any feedback form.