What are the Best Options to Send Money to Hungary?

Currency Exchange

2018-12-21

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Every year, lots of people send money to Hungary. But because of lousy tactics, most of them ended up paying dearly, sometimes paying almost 20% of the total amount which is ridiculous.

Banks and online money transfer services get away with this because they “hide” it by bundling it into their “special” conversion rates. Basically, it is a hidden fee.

Are you one of the people who ended up “paying too much” to transfer money?

If the answer is yes, then this article is for you.

This our 26th post on sending money to other countries. If you want to check out the rest of the post, here are the links: PhilippinesBrazilAustraliaKenyaMexicoMacedoniaPolandEgyptRomaniaIndonesiaIndiaBangladeshUkraineBoliviaSerbiaPakistanColombia, MoroccoChileTurkey and recently, Thailand.

So how do you actually avoid paying too much when you send money to Hungary?

Below are tables that contain the most popular options for sending money, their upfront rates and their hidden exchange rates. As you notice, some services claim to have zero charge but then more than make up with ridiculous exchange rates. Avoid these services at all cost!

Table 1: Sending $1000 from the US to Hungary

TRANSFER METHOD FEES TO SEND $1000 USD HIDDEN CONVERSION COST TOTAL FEES TIME FOR THE TRANSFER TO ARRIVE
Epay Global remittance $10 0 $10 within 2 hours
OFX (previously USForex)* $0 $7.5 $7.5 1-2 days
TransferWise $10 $0 $10 1-2 days
WorldRemit $4 $7 $11 1-3 days
Ria Money Transfer(slow) $5 $26 $31 3-5 days
Paysera $4 $31 $35 1-3 days
Western Union (slow) $5 $32 $37 5 days
Ria Money Transfer(fast) $15 $26 $41 Minutes
Skrill $10 $40 $50 3-5 days
Wire transfer $25-40 $10-20 $35-60 3-5 days
Western Union (fast) $40 $32 $72 1 day
MoneyGram (fast) $58 $24 $82 Minutes
Travelex $0 $123 $123 3-5 days
MoneyMoveIT $5 $219 $224 1-3 days

Note:

  • Minimum transfer of $500 for OFX (previously USForex).

Table 2: Sending £1000 from the UK to Hungary

TRANSFER METHOD FEES TO SEND £1000 GBP HIDDEN CONVERSION COST TOTAL FEES TIME FOR THE TRANSFER TO ARRIVE
Epay Global remittance £10 0 £10 within 2 hours
TransferWise £7 £0 £7 1-2 days
OFX* £0 £7.5 £7.5 1-2 days
CurrencyFair* £3 £5 £8 1-3 days
Western Union £3 £9 £12 1-2 days
WorldRemit £3 £9 £12 1-3 days
Transfergo £1 £14 £15 1 day
Azimo £1 £15 £16 1-2 days
Easy Exchange £6 £18 £24 3-5 days
GlobalWebPay £5 £22 £27 1 day
Paysera £3 £27 £30 1-3 days
1st Contact Forex £15 £18 £33 1-3 days
MoneyGram £7 £28 £35 Minutes
Exchange4free £0 £35 £35 3-5 days
Skrill £8 £40 £48 3-5 days
Wire transfer £15-25 £10-30 £25-55 3-5 days
Travelex £0 £80 £80 3-5 days
MoneyMoveIT £2 £108 £110 1-3 days

Note:

  • Minimum transfer of £500 for OFX.
  • Five free transfers with CurrencyFair

Table 3: Sending $1000 from the Canada to Hungary

TRANSFER METHOD FEES TO SEND $1000 CAD HIDDEN CONVERSION COST TOTAL FEES TIME FOR THE TRANSFER TO ARRIVE
Epay Global remittance $10 0 $10 within 2 hours
OFX* $0 $7.5 $7.5 1-2 days
CurrencyFair* $5 $3 $8 3-5 days
WorldRemit* $4 $5 $9 1-3 days
TransferWise $12 $0 $12 1-2 days
Paysera $5 $21 $26 1-3 days
1st Contact Forex $25 $14 $39 1-3 days
Exchange4free $0 $45 $45 3-5 days
Skrill $29 $40 $69 3-5 days
Western Union $40 $30 $70 Minutes
MoneyGram $50 $28 $78 Minutes
Travelex $0 $114 $114 3-5 days
Wire transfer $25-40 $20-30 $45-75 3-5 days

Notes:

  • Worldremit can only send 995 CAD from Canada to Hungary.
  • Minimum transfer of $500 for OFX.
  • Five free transfers with CurrencyFair

Table 4: Sending €1000 from the Western Europe to the Hungary

TRANSFER METHOD FEES TO SEND €1000 EUR HIDDEN CONVERSION COST TOTAL FEES TIME FOR THE TRANSFER TO ARRIVE
Epay Global remittance €10 0 €10 within 2 hours
TransferWise €7 €0 €7 1-2 days
CurrencyFair* €3 €4 €7 1-3 days
OFX* €0 €7.5 €7.5 1-2 days
Transfergo €1 €9 €10 1 day
WorldRemit €4 €9 €13 1-3 days
Paysera €3 €16 €19 1-3 days
Azimo €3 €23 €26 1-2 days
Western Union €0 €29 €29 1-2 days
Exchange4free €0 €35 €35 3-5 days
Wire transfer €20-35 €20-40 €40-75 3-5 days
Skrill €10 €40 €50 3-5 days
MoneyGram €5 €59 €64 Minutes
Travelex €0 €111 €111 3-5 days

Note:

  • Minimum transfer of €500 for OFX.
  • Five free transfers with CurrencyFair

Table 5: Sending $1000 from the Australia to Hungary

TRANSFER METHOD FEES TO SEND $1000 AUS HIDDEN CONVERSION COST TOTAL FEES TIME FOR THE TRANSFER TO ARRIVE
Epay Global remittance $10 0 $10 within 2 hours
TransferWise $7 $0 $7 1-2 days
OFX (previously OzForex)* $0 $7.5 $7.5 1-2 days
CurrencyFair* $5 $3 $8 1-3 days
WorldRemit $4 $5 $9 1-3 days
Paysera $5 $16 $21 1-3 days
Easy Exchange $8 $21 $29 3-5 days
1st Contact Forex $25 $6 $31 1-3 days
MoneyMoveIT $7 $28 $35 1-3 days
Exchange4free $0 $45 $45 3-5 days
Skrill $10 $40 $50 3-5 days
Western Union (slow) $10 $43 $53 2 days
Wire transfer $25-35 $30-60 $55-95 3-5 days
Travelex $0 $97 $97 3-5 days
MoneyGram $60 $48 $108 Minutes
Western Union (fast) $70 $55 $125 Minutes
Travel Money Oz $0 $202 $202 3-5 days

Note:

  • OFX (Previously OzForex) rate requires a minimum amount of $500.
  • Five free transfers with CurrencyFair

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