LogoRegulatory Alerts

Hungary: fintech & payments regulation

Regulated

Hungary: MNB-regulated payment institutions; PSD2 open banking; no specific crypto license

Lead regulator
Magyar Nemzeti Bank (MNB)
Also involved
NAIH (data protection) · MNB (AML via FIU)
Core law
Act CXII of 2013 on Payment Services (Pmt. Act)
Entry capital
HUF 70m (Payment Institution)
Approval timeline
3-6 months
Customer assets
Segregated accounts required
Data protection
GDPR + Act CXII of 2018 · NAIH
Sandbox
Yes - MNB Regulatory Sandbox

Hungary regulates payment services under the 2013 Act, implementing EU PSD2. The MNB is the sole supervisor for payment institutions and e-money institutions. The regime is stable, with recent MNB recommendations focusing on instant payments and fraud prevention rather than new licensing categories.

Which licence do you need?

Your activityRequirementCapitalTimelineAuthority
Payment processing / gatewayLicencePayment Institution[1][2]

Requires MNB authorization under Pmt. Act

HUF 70m3-6 monthsMNB
E-money & wallet issuanceLicenceE-money Institution

Higher capital than payment institutions

HUF 300m3-6 monthsMNB
Domestic money transferLicencePayment Institution[1]

Included in payment institution scope

HUF 70m3-6 monthsMNB
Cross-border remittanceLicencePayment Institution[1]

Cross-border payments require authorization

HUF 70m3-6 monthsMNB
Agent networkLicencePayment Institution

Agents must be registered with MNB

HUF 70m3-6 monthsMNB
Open banking / account informationLicencePayment Institution / AISP/PISP

PSD2 compliant AISP/PISP registration

HUF 70m3-6 monthsMNB
Foreign-exchange servicesLicencePayment Institution

FX services fall under payment services

HUF 70m3-6 monthsMNB

New — what changed recently

  • 2025-04-16Recommendation No 3/2025 — MNB issued requirements for instant credit transfers via single data entry solutions[1]
  • 2023-06-23Recommendation No 5/2023 — MNB established expectations for fraud prevention in digital payment services[2]

Market-entry checklist

  1. 1Secure HUF 70m capitalDeposit minimum capital with MNB for payment institution license
  2. 2Submit MNB applicationFile detailed business plan and governance structure with MNB
  3. 3Implement AML systemsEstablish robust transaction monitoring per MNB Recommendation 5/2023
  4. 4Register agentsRegister any agent network with MNB before operations

Sources

  1. Recommendation No 3/2025 on Instant Credit Transfers via Single Data Entry Solutions and Payment Requests · 2025-04-16
  2. Recommendation No 5/2023 on the prevention, detection and management of abuses observed through payment services · 2023-06-23
This guide is compiled automatically from 2 primary-source documents published by Hungary's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.