Send money to Hungary from Ireland
Grey does not convert euro into forint. What reaches Hungary is a euro credit into the recipient's Hungarian IBAN through SEPA, at OTP Bank, K&H Bank or Raiffeisen Bank Hungary, typically within minutes from a funded balance. If they want forint, their own bank converts it at its own rate.
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What actually happens to the money
Say this part first, because it decides whether this corridor is right for you. Hungary kept the forint, and Grey does not convert into it. A transfer from Ireland arrives in the Hungarian account as euro, delivered through SEPA exactly as a euro payment from anywhere else in the union would be.
For some recipients that is ideal. Anyone holding a euro account at OTP or one of the other Hungarian banks receives euro into euro and nothing happens to the amount at all. The same is true for a bill that is denominated in euro, a property purchase priced in euro, or a business invoicing Irish customers in euro.
For others it is a trade-off worth knowing about. If your mother in Debrecen needs forint in her forint account this week, her bank converts the euro when it lands, at its rate and on its terms, and Grey has no part in that step. It is a real cost and pretending otherwise would only surprise her.
Sending a euro credit to Hungary
Sign up
The Grey account is free and opens in about five minutes with a valid identity document, a passport or Hungarian ID card being the usual choice.
Fund in euro
Move euro to your balance by SEPA transfer from AIB, Bank of Ireland, Permanent TSB or Revolut, the same way you would pay any Irish bill.
Send to the HU IBAN
Enter the Hungarian IBAN and the account name, check the fee, and confirm. The euro arrives at OTP, K&H or Raiffeisen as a euro credit, not as forint.
What it costs, and who bears which part
The second cost, if there is one, sits at the Hungarian end and belongs to the recipient's bank. Converting a euro credit into forint is that bank's transaction, at that bank's rate, and Grey cannot quote it for you.
So the fair comparison depends entirely on the account receiving the money. Into a euro account, this is a euro credit with a single visible fee. Into a forint account, add whatever OTP, K&H or Raiffeisen charges to convert, and ask the recipient what that has been in the past.
Why there is no EUR to HUF rate to show you
Grey does not price euro into forint on this corridor, so no EUR to HUF rate appears anywhere in the app. Quoting one would suggest a conversion that is not taking place.
The only rate you might see is on the Irish side, if you fund the balance with sterling or with dollars held at Lead Bank. That converts into euro once, at a rate fixed when you confirm, and the euro then goes to Hungary as a euro credit.
Grey compared with an Irish bank sending to Hungary
An Irish bank will also send euro to a Hungarian IBAN through SEPA, and some banks will convert to forint for you at their own rate. That is the real choice on this corridor: a euro credit with a visible fee and a conversion decided at the Hungarian end, or a forint payment priced by whoever is doing the converting. Neither is automatically cheaper. What Grey offers is that the euro side is fully visible and the forint question is left with the person who can actually answer it.
What the Hungarian account receives
A euro credit on a Hungarian IBAN, arriving through SEPA. The recipient needs no Grey account. What they do next depends on whether the account holds euro or forint.
Into a euro account
If the account at OTP, K&H or Raiffeisen is a euro account, the credit lands as euro and nothing is converted. This is the cleanest version of the corridor.
Into a forint account
The recipient's bank converts the euro into forint on arrival, at its own rate and fee. Grey is not involved in that step and cannot quote it.
Between Grey accounts
If your recipient in Hungary uses Grey, a GreyTag transfer is free and instant and avoids the receiving bank entirely.
Funding ahead of the payment
Because the conversion question sits at the other end, it helps to send early enough for the recipient to deal with it without being rushed.
Send a few days early
If the euro has to become forint before a bill is paid in Budapest, the extra day or two at the Hungarian bank is worth allowing for.
Ask about the euro account
Hungarian banks offer euro accounts. If your recipient opens one, every later transfer from Ireland arrives without a conversion at all.
Save the IBAN
Store the Hungarian account once so the repeat payment is an amount and a confirmation rather than a retyped IBAN.
Transfers are encrypted and trackable from confirmation to settlement, so you can tell the person in Hungary exactly when the euro reached their bank and the conversion clock started.
Who sends from Ireland to Hungary
Hungarians working in Ireland
Hospitality, construction and healthcare staff in Dublin, Cork and Galway sending money to family in Budapest, Debrecen or Szeged.
Euro-priced obligations
A loan, a lease or a school fee quoted in euro in Hungary. These are the cases where a euro credit is exactly what the recipient wants.
Property in Budapest
Irish buyers of Budapest apartments paying deposits, agents and lawyers, where the price was agreed in euro from the start.
Business payments
Irish firms paying Hungarian suppliers, engineering contractors or a shared services team that already invoices in euro.
A smaller corridor than Poland or Lithuania, and one where the euro credit suits some senders much better than others.
Where Grey helps on this corridor
FAQs
Does Grey convert my euro into forint for Hungary?
No. Grey delivers a euro credit into the Hungarian IBAN through SEPA, and the recipient's own bank converts to forint if wanted.
What happens if my sister in Budapest has only a forint account?
Her bank converts the euro credit into forint on arrival, at its own rate and fee, which Grey cannot quote for you.
Which Hungarian banks receive the euro credit?
OTP Bank, K&H Bank and Raiffeisen Bank Hungary all receive euro through SEPA into a Hungarian IBAN.
Is there a EUR to HUF rate shown in the app?
No. Grey does not price euro into forint on this corridor, so showing a rate would imply a conversion that never happens.
Who should use this corridor?
Anyone whose recipient holds a euro account in Hungary, or who is paying an obligation already priced in euro there.
How long does the euro take to reach a Hungarian account?
From a funded euro balance the SEPA credit typically reaches OTP, K&H or Raiffeisen within minutes of confirmation.
What does the transfer cost from the Irish side?
A fee, shown before you confirm. Grey applies no exchange rate, because no conversion happens before the money reaches Hungary.
Can my recipient avoid the conversion cost altogether?
Yes, by holding a euro account at their Hungarian bank. The euro credit then lands as euro with nothing converted.
Can I pay for a Budapest apartment purchase this way?
Yes, where the price and the solicitor's account are in euro. The euro figure you send arrives in full.
How do I fund a transfer to Hungary from Ireland?
By SEPA transfer in euro from AIB, Bank of Ireland, Permanent TSB or Revolut into your Grey euro balance.
Can I track the euro until it reaches the Hungarian bank?
Yes. The transfer is encrypted and trackable to the moment the euro lands, where Grey's part of the journey ends.
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