IBAN Information for: Hungary
Find out all you need to know about the IBAN format in HU, including length, structure, and validation rules.
IBAN Information - Hungary
Overview
The International Bank Account Number (IBAN) for Hungary (HU) follows specific formatting rules. Here you'll find all the important details about the HU IBAN format.
Key Details
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IBAN Length 28 characters
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Country Prefix HU
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SEPA Member Yes
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Currency HUF
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Membership EU Member
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Central Bank Magyar Nemzeti Bank (Central Bank of Hungary)
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Central Bank Website english.mnb.hu
Format Information
Domestic Format Information
IBAN Block Structure
HU 42 117 7301 6 111110180000000 0
IBAN Structure Legend
- HU Country Code
- 42 Check Digits
- 117 Bank Code
- 7301 Branch Code
- 6 Account Type
- 111110180000000 Account Number
- 0 National Check Digit
Structure for Hungarian IBAN
Hungarian IBANs consist of the country code (HU), check digits (2 digits), bank code (3 digits), branch code (4 digits), account type (1 digit), account number (15 digits), and national check digit (1 digit).
The Hungarian IBAN consists of 28 characters. Hungary is a member of the European Union and part of the SEPA area, but still uses the Hungarian Forint (HUF) as its currency. The bank code (3 digits) identifies the bank, and the branch code (4 digits) identifies the branch. The account type (1 digit) specifies the type of account, followed by the actual account number (15 digits). The national check digit at the end is used for internal validation in the Hungarian banking system.
Bank Information
What is an IBAN?
An International Bank Account Number (IBAN) is a standardized international numbering system developed to identify bank accounts from around the world. It was originally adopted by the European Committee for Banking Standards and later as an international standard.
IBAN Uses
- International wire transfers
- SEPA payments within Europe
- Automated payment processing
Benefits of IBANs
- Reduced errors in international payments
- Faster processing of cross-border transactions
- Standardized format for global banking
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IBAN Verification
The check digits in an IBAN allow for verification of the entire number, reducing the risk of errors during transcription. This makes international payments more reliable.
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