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How Do You Receive Money from Hungary to India in 2026?

Author:: Editorial team, serviceexportguide.com
Verified by:: Editorial team
Published: 28 October 2026
Last modified: 28 October 2026
Fees checked on: 28 October 2026
Reading time: 8 min read

Short answer

You can receive money from Hungary to India through local HUF account details from a payment platform, a card or payment link, or a SWIFT wire to your Indian bank. Who this is for: Indian freelancers and registered service exporters. Each export needs an EDF and payment within nine months of the invoice.¹²

Method	All-in cost	Speed	FIRA
Local HUF account details from a payment platform	Not published in full by any tracked platform	Varies by platform; see the platform table	Varies by platform; see the platform table
Card or payment link	From about 7.27 to 8.23% (PayPal)²³	Varies by platform	Depends on the platform
SWIFT wire to your Indian bank	Set by your bank and any intermediary banks; not comparable	Depends on the banks involved	Ask your bank

Invoice amountCurrencyHow the client pays

3,30,000 HUF = ₹94,015 at the reference rate for 13 November 2026 (European Central Bank data).

Estimated rupees received, on published fees

Sorted by estimated rupees received, highest first. Only providers that publish both their fee and their conversion markup for this currency and method can be estimated.

#	Provider and route	Best for	Fee (+GST)	Markup	You receive	Cost
1	PayoneerLowest estimated costPayment request paid by credit card	Marketplace payouts such as Amazon or Upwork	₹2,773no GST stated	1 to 4%	₹87,593 to ₹90,330	3.92 to 6.83%
2	PayPalInternational commercial transaction received into a PayPal account (PayPal checkout or invoice)	Clients paying by card or PayPal balance	₹4,162no GST stated	3 to 4%	₹86,259 to ₹87,157	7.29 to 8.25%

Not estimated because pricing is not fully published: Wise.

Where a provider says GST applies to its fee but not at what rate, the range runs from no GST to 18%, the rate Skydo, Stripe and Winvesta state on their pages. Estimates use each provider's published fee, conversion markup, GST on fees and FIRA charge, checked 2026-10-28, against the reference rate. They exclude charges taken by intermediary banks and your own bank, and the rate a provider actually applies at the time of conversion. Check the provider's pricing page before you choose. The order is calculated only from these published numbers; no provider can pay to change its position, and there are no affiliate links.

What are the ways to receive money from Hungary to India?

The ways to receive money from Hungary to India compare as follows. Costs are estimates on published fees for HUF 1,600,000, about USD 5,000 at the ECB reference rate.¹³

	Local HUF account	Card or payment link	SWIFT wire to your bank
Fees and markup	Not published in full	From about 7.27 to 8.23%²³	Set by your bank and intermediaries
Settlement	Varies by platform; see the platform table	Varies by platform	Depends on the banks involved
FIRA	Varies by platform; see the platform table	Varies by platform	Ask your bank
Regulatory status	Check the platform's RBI status below	Check the platform's RBI status below	Authorised dealer bank
Best for	Regular invoices from businesses	Small or one-off payments	Large payments to an existing bank relationship

How does each method of receiving money from Hungary work?

Each method of receiving money from Hungary works differently, and costs differ by method.

How does a local HUF account work for payments from Hungary?

A platform gives you account details in Hungary or in HUF, so your client pays you as it would pay a local supplier. The platform converts the HUF to INR and pays your Indian bank account.

Pros: the client pays a local transfer; costs are usually published.
Cons: not every platform accepts HUF; conversion markups vary.
Cost: no tracked platform publishes full pricing.
FIRA: varies by platform; check the platform table below.

How does a SWIFT wire work for payments from Hungary?

Your client sends an international wire to your Indian bank account using its SWIFT code. Your bank converts the HUF at its buying rate.

Pros: no third party between you and the client.
Cons: intermediary banks may deduct charges; the conversion rate is usually not published in advance.
Cost: set by your bank and any intermediary banks, so it is not comparable here.
FIRA: ask your bank how it issues FIRAs for inward remittances.

How does a card or payment link work for payments from Hungary?

You send a link or checkout page and the client pays by card. The platform settles INR to your bank.

Pros: quick for the client; useful for small or one-off payments.
Cons: card pricing is usually higher than bank transfer pricing.
Cost: from about 7.27 to 8.23% on published fees.²³

How do Hungarian clients usually pay Indian vendors?

Hungarian clients usually pay Indian vendors in Hungarian forint (HUF), though you can invoice in another currency if the client agrees. A client paying from Hungary enters your local account details or, for a wire, your bank's SWIFT code and your account number. Domestic rails in Hungary do not reach an Indian bank account directly.

Which platforms are best for receiving HUF in India?

The platforms best for receiving HUF in India are listed by estimated cost on HUF 1,600,000, cheapest first; platforms without full pricing follow, A to Z.²³

Platform	Best for	FX markup	Fee	Estimated cost on HUF 1,600,000	FIRA	Settlement	RBI PA-CB status
PayPal	Clients paying by card or PayPal balance⁴	Base exchange rate plus a fee. PayPal lists 3.0% above the base exchange rate for 'converting balance and payments received into another currency' and 4.00% for 'conversions in all other cases' (INR listed at 4.00%). The fee page does not say which of the two applies when the balance is converted to INR for transfer to an Indian bank.²⁴	4.40% plus a fixed fee per international commercial transaction. Fixed fee by currency received, for example 0.30 USD, 0.35 EUR, 0.20 GBP, 0.30 AUD, 0.30 CAD. Approved micropayment accounts pay 6.00% plus a micropayments fixed fee (for example 0.05 USD) instead.²	7.27 to 8.23%²³	Free weekly digital FIRA (Foreign Inward Remittance Advise) from February 2026, downloadable under Reports, then Tax, in a business account for the last 12 months; earlier transactions are covered by monthly FIRAs. Custom FIRA: 100 INR plus 18% GST per transaction for up to 20 transactions, or 2,000 INR plus 18% GST for a bulk request above 20 transactions; PayPal says custom FIRAs are issued by Citibank.³	PayPal asks users to allow up to 5 business days for funds to show in the bank account, depending on the bank's clearing process.⁵	PayPal's India user agreement says it provides export payment services as an online payment gateway service provider under RBI A.P. (DIR Series) Circular No. 16 (RBI/2015-16/185) and that PayPal is not a bank in India. RBI's status list as on 16 October 2026 shows PayPal Payments Private Limited under 'Existing PAs-CB which can operate as Payment Aggregator- Cross Border' with 'In-Principle Authorisation Granted'. PayPal is not on RBI's list of Certificates of Authorisation dated 16 October 2026.⁴⁶⁷
Wise	Bank transfers to local account details⁸	Mid-market exchange rate plus a conversion fee that Wise says depends on the currency. No percentage is published for conversion to INR; the amount is shown in Wise's calculator.⁹¹⁰	Wise's India help article says it charges an equivalent of 2 USD in the received currency for the transfer to the INR bank account that issues the e-FIRC. Wise's India receive pricing page describes a free eFIRC for every transfer. The general Wise Business fee table on Wise's India site lists 6.11 USD per USD wire or Swift payment, 2.16 GBP per GBP Swift payment and 2.39 EUR per EUR Swift payment, with domestic (non-Swift, non-wire) payments free; Wise's India-specific receive pages do not repeat these Swift fees. 18% GST applies to Wise fees.⁸⁹¹¹	Not estimated: pricing not fully published	An e-FIRC for each transfer, emailed to the registered address within 3 working days and downloadable from the transfer page. The help article links it to the 2 USD equivalent fee; the pricing page calls it free.⁸⁹	Wise says the INR payment reaches the Indian bank account within 1 to 2 days and that more than 50% of transfers settle within 2 hours of pay-in. The client's payment takes 0 to 3 working days to reach Wise by local methods and 2 to 6 working days by SWIFT.⁸	RBI's list of authorised payment aggregators dated 16 October 2026 includes Wise Payments India Private Limited as a Payment Aggregator, Cross Border, facilitating inward transactions (PA-CB-I), authorised on 12 March 2026. Wise's India receiving pages do not name the Wise entity that handles inward payments.⁷⁸

The order comes only from published pricing. Wise do not publish enough to estimate a cost.

Why do you receive less than the mid-market HUF to INR rate?

You receive less than the mid-market HUF to INR rate because banks and platforms convert at their own rate and may charge a fee on top. Today's HUF to INR reference rate is derived from European Central Bank data.¹³

For example, a 2% conversion markup on HUF 1,600,000 costs HUF 32,000 before any fee. Your FIRA shows the rate actually used,¹⁴ so compare it with the reference rate for that day using the FX markup calculator.

How much INR do you receive on $2,000, $5,000 and $10,000 from Hungary?

The INR you receive from Hungary depends on the platform. The table works this out from published pricing at today's rate, in HUF.

Platform	Best for	INR on HUF 660,000	INR on HUF 1,700,000	INR on HUF 3,300,000	Cost on HUF 1,700,000
PayPalMost INRInternational commercial transaction received into a PayPal account (PayPal checkout or invoice)	Clients paying by card or PayPal balance	₹1,72,542 to ₹1,74,340	₹4,44,466 to ₹4,49,096	₹8,62,810 to ₹8,71,797	7.27 to 8.23%

Not estimated because pricing for HUF is not fully published: Wise.

Ranked by INR received on HUF 1,700,000. Reference rate: European Central Bank data for 13 November 2026. Fees, conversion markup, GST on fees and FIRA charges as published by each provider, checked 28 October 2026. Ranges appear where a provider publishes a range or does not state its GST rate. Intermediary bank charges are excluded. See the methodology.

What should you consider when choosing how to get paid from Hungary?

Consider the total cost and your client's convenience when choosing how to get paid from Hungary.

Total cost: add the fee, the conversion markup and GST on fees, not just the headline fee.
Local rail coverage: a local HUF account lets the client pay without an international wire.
Settlement speed: check how many working days the rupees take to reach your bank.
FIRA: make sure you get a FIRA or e-FIRC for every receipt.
Client experience: ask how your client prefers to pay before you choose.
Support: check how the platform handles held or returned payments.

What documents and compliance apply to payments from Hungary?

Payments from Hungary follow the same Indian rules as any export of services.

Export status: work for a client in Hungary is an export of services when all five conditions in section 2(6) of the IGST Act are met.¹⁵ Use the export of services checker if you are unsure.
EDF: from 1 October 2026 you give an Export Declaration Form (EDF) to your bank, usually within 30 days from the end of the month of invoicing.¹² See the EDF for service exporters.
Realisation: the payment must arrive within nine months of the invoice date.¹²
FIRA and purpose code: keep the FIRA or bank advice for each receipt and check that it shows the right purpose code.¹⁴
e-BRC: generate an e-BRC on the DGFT portal where you need one.¹⁶

What tax applies to money received from Hungary?

Money received from Hungary is zero-rated for GST and taxable as income in India, and the client may deduct tax in Hungary.

GST: an export of services is a zero-rated supply, so a registered supplier with an LUT invoices it without GST.¹⁷¹⁸
Treaty: India and Hungary have a comprehensive DTAA signed at New Delhi on 3 November 2003, in force from 4 March 2005, replacing the 1986 convention.¹
Article on technical services: Article 12 (Royalties and fees for technical services).¹
Treaty rate: 10% of the gross amount of the fees for technical services (and of royalties).¹ Fees for technical services are defined as payments for any managerial, technical or consultancy services, including services of technical or other personnel, other than amounts covered by Articles 14 and 15; there is no make-available wording. The Protocol includes an MFN clause for Articles 10, 11 and 12: if India agrees a lower rate or narrower scope on dividends, interest, royalties or fees for technical services with a third state that is an OECD member, that rate or scope also applies under this convention.¹

This site has not found an official Hungary source setting a general withholding tax on payments to foreign service providers; ask the client whether it will deduct anything before you invoice.

If tax is deducted, you may be able to claim credit for it against your Indian tax on the same income; from tax year 2026-27 the claim is made in Form 44.¹⁹ See foreign tax credit and DTAA for Indian exporters.

How did we verify this?

We checked this page against the sources below on 28 October 2026. Provider fees, conversion markups and RBI payment aggregator (PA-CB) status were checked on 28 October 2026. Rupee amounts use European Central Bank reference rates for 13 November 2026. Read our methodology or report an error.

Frequently asked questions

What is the cheapest way to receive money from Hungary to India?+

No tracked platform publishes full pricing for receiving HUF, so there is no cheapest route on published fees. Compare written quotes, and check the rate on your FIRA against the reference rate after the first payment from Hungary.

Do I charge GST to a client in Hungary?+

No, if the work meets the five export conditions and you invoice under an LUT. An export of services to a client in Hungary is a zero-rated supply, so a registered supplier with an LUT invoices it without GST.¹⁵¹⁷

How long can a client in Hungary take to pay?+

RBI rules require the payment from Hungary to be realised within nine months of the invoice date for exports invoiced from 1 October 2026, or twelve months if the invoice is in rupees.¹²

Does India have a tax treaty with Hungary?+

Yes. India and Hungary have a comprehensive DTAA signed at New Delhi on 3 November 2003, in force from 4 March 2005, replacing the 1986 convention. 10% of the gross amount of the fees for technical services (and of royalties).¹

Do I need a SWIFT code to receive money from Hungary?+

Only for an international wire. If your client in Hungary pays into local HUF account details from a payment platform, the client uses those local details instead. For a wire to your Indian bank, the client needs your bank's SWIFT code and your account number.

How do I track a payment from Hungary that has not arrived?+

For a wire, ask your client for the SWIFT confirmation (often called the MT103) and share it with your bank. For a platform payment, check the payment status in your platform account and contact its support with the client's transfer reference.

Can I hold HUF received from Hungary instead of converting it?+

Some exporters keep foreign currency in an Exchange Earner's Foreign Currency (EEFC) account with an Indian bank, but most payment platforms convert to INR automatically. See the [EEFC account guide](/blog/eefc-account-benefits) for the rules and limits.

Can a client in Hungary pay me by card?+

Yes, through a platform that offers a card checkout or payment link. On published fees, the cheapest card or link route for HUF 1,600,000 costs about 7.27 to 8.23%.²³ Card pricing is usually higher than a bank transfer.

This page is general information for Indian service exporters, not tax or legal advice. Rules change and outcomes depend on your facts, so confirm with a chartered accountant before acting.

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