Expat Advice: Financial Issues in Tarnazsadany, Hungary

What is the name of the city or town that you are reporting on?

Tarnazsadany

Which banks do you use? If you have a local account, which bank do you use? How do you like it? Do you also have an account in your home country? Which bank? Do they charge for ATM withdrawals? Do they charge a lot for international wire transfers? How has it been working with them from abroad? Do you use a special international wire transfer service? Do you use an online bank? If so, tell us about them.

I switched to the K&H bank here in Hungary, however after 2 years I quickly returned to my old bank in the UK. The charges became unbearable, you pay for literally everything here. The bank gives you nothing at all. Even an introductory letter costs.

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With over 2 million bookable vacation rentals, Vrbo connects homeowners with families and vacationers looking for something more than a hotel for their trip. The Vrbo community offers families an array of rental property types such as condos, cabins, lake rentals, beach houses, and more. Discover properties in destinations that everyone dreams of visiting.
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What advice would you offer others about banking as an expat in your country? What do you wish you had known about banking when you first arrived?

I bank with my old bank in the UK, everything is done on line at no additional cost.

What sort of challenges or frustrations have you encountered as an investor living overseas? Please describe.

I particularly lost just over £500 with bank charges over a period of 2 years, really for very, very little in return.

What advice was particularly helpful to you in managing your finances? What advice would you give? Any other thoughts?

Bank with whom you trust. I received little or no advice at all from any Hungarian bank.

Do you do your own taxes, use a local firm, an expat-oriented firm or does your employer handle this for you (i.e. via an corporate tax firm)?

Being retired we have very little to do with our taxes. All of mine were done via the Inland Revenue in the UK, who I found to be very helpful, at no cost..

What advice could you offer others about doing your taxes as an expat?

Stick with who you know and trust, or do your own on line.