Money Transfer from UK Accounts to CIB Bank Hungary
Save money and time when sending a UK bank account money transfer to or from forint at Hungary’s CIB Bank, use a broker for a better currency exchange rate. The best alternatives for sending funds from the UK to a CIB Bank account in Hungary, a currency broker will also save you time on the transaction.
About CIB Bank
CIB Bank Hungary was established in 1979 and is a subsidiary of the Italian banking group Intesa Sanpaolo. CIB Bank is among the largest banks in Hungary and a key financial institution on the Hungarian market with over 90 branches covering the entire country. CIB Group provides full financial products and services for more than 500,000 private and business customers.
Hungarian Forint Transfer to/from CIB Bank in Hungary
Making a transfer to or from Hungarian forint using a bank service could potentially lose you thousands of pounds due to the poor FX margin rate offered. Private currency brokers offer a much more competitive rate of exchange. Example: Currency broker TorFX are one of the UK’s leading and largest foreign currency exchange specialists assisting private individuals and businesses with their foreign currency transfers to and from most countries worldwide. TorFX v traditional bank exchange rates:
|Company Name||FX Rate||GBP to HUF||FREE Quote|
|CIB Bank||*5.0%||344.651 info||Enquire|
|Typical Bank Rates||*1.9 to 6.2%||340.297 to 355.897 info||Enquire|
UK pound sterling (GBP) to Hungarian forint (HUF) currency rates are updated daily at 09:00 GMT. Data source – ECB
*Note: A lower FX Rate will give a better exchange rate when transferring money to/from Hungarian forint. Specialist foreign exchange companies including the ones listed below can save you money and time on the transaction.
UK bank to CIB Bank account v Currency Brokers
1: Bank money transfer information: General Guidelines – High street banks also charge a commission fee when sending money abroad into another currency – Private brokers offer commission free currency transfers typically over a value of £5000 or 1814314.655 Hungarian forint. Bank transfer commission fees range from £15 to £30 depending on the bank.
2: Unless you pay a premium, high street banks will take from 3 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction between 1 to 3 days.
Sending Money Abroad with CIB Bank
To transfer funds abroad from your CIB Bank account, you have to give the beneficiary’s IBAN and BIC to the bank. International transfer requests may be submitted by fax as long as you have signed a request at your local CIB Bank branch.