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HATC SAMPLE EDITION:
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7th November, 2025
MNB gives green light for Revolut’s local branch
The MNB has officially approved the launch of Revolut’s local branch, allowing the fintech to start operating in Hungary, Portfolio writes.
Existing users with Lithuanian IBAN numbers will be migrated to Hungarian IBAN numbers, while new users will automatically receive the latter when opening an account.
As a registered branch, the fintech firm will now fall under domestic banking regulations, meaning it will be subject to Hungary’s transaction tax, bank levy, and windfall tax, the same obligations faced by local financial institutions.
The change will make transfers and salary payments easier and cheaper, as local transactions will no longer count as international, Portfolio adds.
Revolut, which already serves more than two million Hungarian users, is also expanding its local team after recruiting 40 new employees recently.
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Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).
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