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  • Writer's pictureJonas Bateman

Online Money Transfers Got Faster And Cheaper To Transfer The Hungarian Forint Via TransferWise.

Hungarian flag at the Central Bank

Jó hírek! Good news!

TransferWise announced on December 15, 2020, Hungarian Forint (HUF) transfers from anywhere in the globe to Hungary are less expensive and faster; almost instant.

TransferWise is now hitting 2 for 2 in December. A few weeks ago, TransferWise announced the approval and integration with Singapore banking systems. Transfers to and from Singapore are now almost instant with TransferWise.

Adding Hungary to their arsenal makes them more relevant, integrated, and competitive in a very competitive field.

TransferWise states on their website, “We are dropping prices to send money to Hungary from anywhere in the world. To top that off, all transfers up to 10M HUF arrive in Hungarian bank accounts almost as soon as you hit “send transfer”.”

TransferWise makes it clear that charges will be less expensive and faster.

Can TransferWise prove it?

Here is a check on the charges for a transfer from a domestic HUF to a HUF transfer. The graphic shows a 500,000 HUF transfer. The previous fee is 260 HUF and the new fee is 96 HUF. Shows a savings of 164 HUF. Also, TransferWise claims a faster experience. 96 HUF ($0.33 USD) to make a domestic transfer in Hungary.

HUF to HUF comparison

The savings on the international front has remained the same. We did a check on a 500,000 HUF transfer to EUR. The results came back with no price change. The fees were 2,562 HUF ($8.79) and the money converted at the real exchange rate with no hidden fees. For this particular market that is very competitive.

HUF-EUR cost on TransferWise

Well, it is proof that transfers of the HUF got quicker and cheaper via TransferWise.

Let’s see what TransferWise does next to further break the elusive critical mass of banking integrations.

Can they go 3 for 3 in December? Will Santa come through? Let’s see what happens. If not, TransferWise has done a great job making online money transfer faster and cheaper.

Sign-up now to take advantage of this savings. Click Here to commence.

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