is money in Hungarian banks safe?

sherif1986 Member

Member since 10 January 2013

sherif1986Member20 January 2013 10:35:02

Hello every bidy. I am just wondering what are the safest banks to deposit my money. I will deposit big amount and i want my money to b in safe bank and guaranteed by the central bank of hungarian. Any advice wll b appreciated ?

fluffy2560 Hungary Expert

Member since 21 July 2009

fluffy2560Hungary Expert20 January 2013 10:57:06

12746

sherif1986 wrote:
Hello every bidy. I am just wondering what are the safest banks to deposit my money. I will deposit big amount and i want my money to b in safe bank and guaranteed by the central bank of hungarian. Any advice wll b appreciated ?

Under EU rules, all deposits (by individuals) are guaranteed up to EUR 100K per person, e.g. joint account EUR 200K.聽 In Hungary (like many other countries), the central bank does not provide insurance, there's a separate, deposit insurance fund which all banks are obliged to be members of.

Be careful about guarantees per bank and per product. Currently, per product guarantees are not provided, it's only guarantees per bank. So it's best to have different products at different banks, i.e don't put your eggs in one basket which is the best policy anyway. Be careful of foreign owned branches too. These may or may not be covered under such schemes.

Deposits earn little interest these days. Other investments are more likely to earn you decent returns.