Choosing the best service provider for GBP to HUF transfers
To identify the best provider for your needs when sending money to Hungary from United Kingdom, the main things you should be considering are the current GBP – HUF exchange rate, the time it will take for the funds to be delivered, and the level of fees you will pay when making your transfer.
Our comparison engine has taken these factors, along with many others, into consideration while comparing over 30 major money transfer providers. This has enabled us to examine the market and quickly identify the top services to use when sending money to Hungary from United Kingdom online.
If you’re looking for the best combination of price, speed, and reliability we recommend using TorFx when sending GBP – HUF.
This means that by using TorFx for online money transfers to Hungary from United Kingdom, you are likely to save on transfer fees and benefit from fast speeds – so your recipient will get more money and have it delivered in less time.
Alternatively, if you are unable to access TorFx for any reason, our comparison engine has found XE and Wise also to be very good options when sending GBP – HUF.
This recommendation was updated one minute ago.
Benefits of sending money online
There are many reasons people send money online, and it is important to make sure you are getting a good deal. You might be looking to send money to your family in Hungary or need to make a quick and easy payment to a business in United Kingdom, but whatever the reason you’re transferring funds you should always compare money transfer providers.
There are many benefits when it comes to sending money to Hungary using online money transfer providers.
Speed: Depending on the payment method you use, money transfers to Hungary can be instant or take up to a few days – but money transfer providers definitely beat the banks for speed.
Security: Online money transfer services employ a variety of security measures – from SSL secure websites to two factor authentication on payments – making transferring money a simple, quick, and secure process.
Flexibility: You can send as much GBP as you want, to as many people in Hungary as you need using online money transfer providers.
The cost of a currency transfer is a hugely important factor that helps you decide whether you want to send your money with a particular provider. We work out all the fees from start to finish to provide you with the complete picture.
No-one likes waiting around for their money to arrive, especially when it’s for something important. When transferring large sums of money it can take weeks to arrive with particular providers, we ensure you know which ones they are.
Sending large sums of money to a company you’ve never heard of requires trust. We look for major trust signals as a minimum such as regulation to ensure your money is safe, then go above that and look at the providers online reputation.
Each money transfer provider is different and they provide varying levels of perks for being with them, from free transfers to discounts on other services. Find out what you can get by comparing today.
Not every money transfer service provides a full range of currencies to give you the choice of what to transfer. We prefer providers that offer more currencies for you to transfer.
While almost every provider offers transfers via bank transfer, is it the most convenient way to transfer money online? We look for a wide range of payment options when comparing listed providers.
The cheapest way to send money from United Kingdom to Hungary
There are many reasons you might want to transfer money from United Kingdom to Hungary. Unless you’re sending money for an emergency, it’s vital to compare your money transfer options if you want to find the cheapest money transfer service when transacting between GBP – HUF.
Sending money to Hungary can be expensive if you choose the wrong provider or payment method, and by quickly comparing your options you can avoid these pitfalls. It is also important to bear in mind that transfer rates for GBP – HUF vary a lot between banks and money transfer providers. Banks and wire transfers may often be better known brands, but they typically charge higher fees and exchange rate margins than online services.
In order to avoid high fees, you should consider Wise when sending money from United Kingdom to Hungary.
Wise has been determined by our comparison engine to be currently offering you the cheapest rates possible.
The fastest way to send money from United Kingdom to Hungary
When sending money from United Kingdom to Hungary, speed is one of the biggest factors you need to consider in terms of the service offered by different money transfer providers. Currently, TorFx is the fastest way to send GBP – HUF.
Before making a transfer to Hungary, you should consider how quickly you need your money to arrive in United Kingdom and how much you’re willing to pay.
Typically, when making a transfer from United Kingdom, it’s good to consider the following:
The size of your transfer
The payment method you’re going to use
The recipient’s withdrawal method
The time you lodge your transfer
The money transfer provider you’re using
Online money transfer companies tend to provide the fastest way to send money to Hungary from United Kingdom, especially those utilising a P2P system where senders and recipients are matched in real time.
The fastest provider for sending GBP to Hungary is currently TorFx according to our comparison engine.
What payment methods are available when sending money from United Kingdom to Hungary?
Most money transfer providers allow you to deposit and send money using various payment methods, but not all providers offer every option. Typically you’ll find the most common methods are bank transfers and card payments, but many providers also accept cash and some will even deliver funds straight to your recipient’s door.
Sending money to Hungary from United Kingdom using credit card
There are a few ways you can use your credit card when making international money transfers. You can use a credit card to send money internationally through your bank account, however, your credit card provider is likely to charge you a higher fee when doing this. To avoid high fees you can opt to use an online money transfer provider such as Wise to pay for your transfer to Hungary.
Sending money to Hungary from United Kingdom using a debit card
With TorFx you can send money online to Hungary using your debit card. But before making a payment, make sure you understand all the processing fees in place.
Using a wire transfer to send money from United Kingdom to Hungary
Bank and wire transfers are the most common ways of sending money Hungary as they are secure, reliable, and convenient. However, they often come with the slowest delivery times in case speed is an important factor for you. You can use TorFx to send money using a bank or wire transfer at a great rate as long as you’re happy for your transfer to take 1-2 days.
When sending money to Hungary from United Kingdom using bank account transfer you are paying for the outgoing fees, flat fees, currency exchange rate markup, and sometimes an additional incoming transfer fee.
On the other hand, you usually only pay a sender fee and a small exchange rate markup when using online money transfer services such as TorFx, XE and Wise.
Before sending money to Hungary from United Kingdom, you should consider the following:
The amount you want to transfer: It is likely that the more money you send to Hungary the more value you will get. This is because any flat fee charged ends up as a smaller percentage of your transfer amount, and also because many providers allow you to negotiate a better exchange rate margin if sending large amounts.
The GBP – HUF exchange rate margin: Money transfer providers charge a small percentage on top of the mid-market exchange rates in order to generate revenue. Make sure you find the provider with the lowest margin to ensure more of your money reaches the intended recipient. Current mid market rate is 468.789832 and the lowest exchange rate margin is currently offered by TorFx at 0.5% above the mid market rate.
Hidden fees & charges: Before sending money to Hungary, make sure the provider you are using doesn’t charge any hidden fees. Our reviews and comparisons will take you through exactly what you’ll pay when using each provider.
Discounts & offers: Various companies will offer different perks when using them to send money online, so it’s good to have a quick look and see if any companies have any particularly attractive offers.
How to send money from United Kingdom to Hungary at the best rate?
This one’s easy. Our comparison engine has identified that TorFx is the best provider to use when sending money to Hungary from United Kingdom. If for any reason you cannot use TorFx, you can try XE, Wise and Passto to transfer your funds.
After that it’s just a process of making your transfer via the following steps:
Click “Visit Site” inside our comparison table
Register for an account if required
Input how much you are willing to send
Fund your transfer
Receive & save an email confirming your transfer
How to receive money from United Kingdom in Hungary?
Your recipient has a few methods available to receive your money in Hungary. These will vary between providers, but it is possible to find services that will:
Deposit funds directly into a bank account
Enable the recipient to pick up cash a specific locations
Deliver money directly to their door
Send money to your recipient’s mobile wallet
If your recipient is going to collect or have the money delivered to them in Hungary, then they will usually need the following:
A government issued I.D document
The money transfer reference number
Senders details and the amount of money sent
By now you should know everything you need, to start sending money to Hungary from United Kingdom, so get started right now or read our FAQs below where we answered all the most common questions!
Your Questions Answered
How much money can be transferred from United Kingdom to Hungary?
The amount of HUF you can receive from United Kingdom will largely depend on the money transfer service you are using. There are providers that specialise in smaller remittance payments, and providers who specialise in larger transfers.
You should also check if there are any government regulations pertaining to the amount of HUF that can be received in Hungary or sent from United Kingdom before making your transfer.
Are there any tax implications from sending money from United Kingdom to Hungary?
Each country in the world will have its own set of tax laws and rules for receiving money from abroad. Money sent for business purposes will usually be taxed as a foreign income. If you’re looking to receive a large amount from abroad, you should hire an accountant or contact your local tax office for any further advice.
Every country’s government will also have its own set of regulations for receiving money, depending on the amount sent and the purpose. If you’re looking to receive a large amount of HUF from United Kingdom, it is again a sensible idea to contact an accountant and ensure your actions are legal and any necessary taxes are paid in full.
Are money transfers services regulated?
Yes. All our listed companies dealing with overseas money transfers must be authorised with their relevant regulatory body.
Can I send money with MoneyTransfers.com?
No. MoneyTransfers.com is a comparison website aiming to match you with the best money transfer providers for your needs when transferring money online.
How we compare?
What do we mean by the top provider?
The top provider is the money transfer service that we believe is the most suitable for the country you’re sending money to. In order to keep our service free we factor in the commercial agreements we have with partners into this ranking.
How do we choose providers to display?
We make sure that each table displays the most relevant brands to the country you are sending money to and from. We consider many factors when choosing the providers to display in the table.All of the providers we display are fully regulated to provide money transfer services in the jurisdiction you are searching, relevant regulatory authorities are the FCA, ASIC, Fincen, FINTRAC & AMF. Alongside being regulated the services are manually checked by our team for both quality of service and online trust from such platforms like Trustpilot and Google reviews.We base our rankings primarily on the quality of the service provided, the benefit to the consumer and to keep our service free – the commercial agreements we have.
How do we order our comparisons?
We are affiliated with some of the partners displayed in the tables. However, the order of the providers is based on the quality of the service for the particular country corridor followed by the commercial agreement in place. You don’t pay any extra and the deal you get isn’t affected by our commercial agreement with the money transfer provider. We may receive a commission when you click through to a listing or when you make a transaction.We aim to find the balance between the quality of the service, customer satisfaction and the commercial agreements we have, and continue comparing services in a transparent way.If you have any questions about our listings, please don’t hesitate to email us at email@example.com
Why do different companies offer different rates?
Simply put, they have different business models. There are many different online providers and each will have a different business model creating a variance in fees.
My favourite company is not listed, why is that?
Contact us and let us know! If you’ve been using another company to send money online that we haven’t listed yet, contact us at firstname.lastname@example.org and let us know. We will make sure to review your suggestion.
What do I do if I need help?
Contact us. If you’re struggling to make a decision or unsure about using any of these services, feel free to contact us at email@example.com with any enquiries you have and we will get back to you ASAP.
April is a trained journalist and the Content Editor for MoneyTransfers.com. She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she’s not writing about global remittances she can be found daydreaming about her next holiday abroad.