One by one, banks announce that they comply with the government's expectations on account charges
OTP's commitments
Based on negotiations between the Ministry of National Economy and representatives of the banking sector,
OTP Bank has agreed to compensate for the inflationary fee increase for retail bank accounts, debit cards and electronic banking services introduced on 1 March 2025.
Within the framework of the commitment, OTP Bank is ready to extend a discount worth several billion forints and to
reduce the bank charges paid by its retail customers by almost HUF 2 billion between 1 May 2025 and 30 April 2026.
This amount corresponds to the impact of the inflationary fee increase legally allowed for 2025, less customer discounts, so, as requested by the Minister of National Economy,
OTP Bank is ready to return to the retail banking fees of the beginning of 2025.
In practice, this step means that OTP Bank is ready to reduce the annual fee for physically issued retail HUF debit cards maturing between 1 May 2025 and 30 April 2026 by HUF 700 compared to the current annual fee for all customers, unless a different legal provision on these fees comes into force. The bank is prepared to make a one-off credit of a similar amount in June 2025 for retail account customers without a debit card, under the same assumption.
The promotion does not affect OTP Junior cardholders, as both account management and the debit card (along with a range of other services) are free of charge.
OTP Bank's already introduced discounts are still available to the bank's customers, and the bank is ready to extend some of them until 30 June 2026, unless new legislation provides otherwise. It should be noted that, following discussions,
OTP Bank is also prepared to undertake not to increase fees for retail bank accounts and debit cards for operational or inflationary reasons until 30 June 2026.
In the case of Gránit Bank, there is no fee increase in 2025, so the bank's fees will remain unchanged. Péter Jendrolovics, Deputy CEO of Gránit Bank and Head of the Retail Division, said that the fees for current account management and payment transactions for their existing account packages have not been increased at all in the last 12 years.
Raiffeisen also reacts
As of 1 May 2025, Raiffeisen Bank will reduce its retail customers' daily banking expenses and offer discounts on retail bank account and card fees until 30 June 2026,
Raiffeisen Bank said in a statement.
They added that the overall discount package is equivalent to the rate of the inflationary fee increase that the bank will legally implement in 2025. In accordance with the NGM guidelines, the bank will provide the customer benefits in the form of discounts at different rates and maturities.
Raiffeisen Bank has undertaken
not to unilaterally adjust the fees for retail bank accounts and debit cards based on inflation and internal operating costs until 30 June 2026.
K&H also joins in
In line with the ministry's proposal, K&H Bank will also make a voluntary price limitation commitment and
will not charge the increase in retail bank account and debit card service fees introduced for inflation and other operational reasons with effect from 1 April 2025 until 30 June 2026, as part of the action starting from 1 May 2025.
In their statement, they stressed that the tariffs during the campaign will be the same as the tariffs in early January 2025, as requested by the Ministry of National Economy.
CIB also speaks out
CIB Bank joins the voluntary commitment of the banks and reduces its fees for retail bank accounts and debit cards as requested by the Ministry of National Economy,
the bank said, also noting that
they will reimburse its customers for the difference between the higher fees collected from 1 April 2025 onwards
under the basis of the previously legally implemented fee increases, which were significantly lower than the inflation rate - the customers concerned will be informed separately on how and when this will be done.
UniCredit responds
UniCredit Bank Hungary Zrt. is also joining the voluntary commitment of banks and will reduce the fees on its retail bank accounts and debit cards in line with the request of the Ministry of National Economy. UniCredit Bank said that it undertakes to offset the inflationary fee increases for retail bank accounts, debit cards and electronic banking services that will be legally applied and introduced on 1 March 2025.
It also undertakes not to pass on to its customers the additional costs of inflation and other internal operating cost increases until 30 June 2026.
MBH also committed
MBH Bank has revised its fees for retail bank accounts and debit cards following negotiations between the NGM and the Hungarian Banking Association, and is responding to the Ministry's request for financial institutions to reduce their retail fees for account management.
MBH Bank will reduce the fees for its retail bank accounts and debit cards by the already announced inflation-adjusted fee increase applicable from 30 April 2025 by
a total of nearly HUF 1.5 billion and will not increase the fees for retail bank accounts and debit cards until 30 June 2026.
How did we get to this point?
Minister of National Economy Márton Nagy indicated in early March that the government believes bank charges are high and that action is planned. After talks since then, the economy minister told banks in a Facebook post at the weekend that they had until Monday to make voluntary commitments to reduce charges on retail bank accounts.
Cover photo (for illustration purposes only): Getty Images
