FAQ: Budget and Finance Office

1. Where is the Student Section of the Budget and Finance Office located?

1051 Budapest, Jozsef Attila street 24, 2nd floor, room 208/209.

2. What are the opening hours of the Student Section of the Budget and Finance Office?

The opening hours of the Student Section of the Budget and Finance Office (Student Financial Issues / Grants Management) are the following: Monday-Thursday: 1:00 PM - 4:00 PM, Friday: 10:00 AM - 12:00 noon.

3. What kind of issues does the Student Section of the Budget and Finance Office deal with?

STUDENT FINANCIAL ISSUES|
Tuition and other Fees, General deposit, Bank account number modification
Tamara, BOBOR| Financial Assistant | BoborT@ceu.edu ext. 2056
 
GRANTS MANAGEMENT|
Travel and Research Grants Management| grants@ceu.edu
Kata, PÁCZAI| Grant Coordinator| PaczaiK@ceu.edu ext. 2078
Adrienn, TÓTH-HEININGER| Grant Coordinator | HeiningerA@ceu.edu ext. 2850

4.  How will I receive my HUF or EUR stipend?

The HUF stipend recipients have to fill in the online matriculation form to be able to collect their first stipend at Nador 9 Cash Desk (opening hours: point 7). From the second stipend on, the HUF stipends will be transferred to the recepients' HUF bank account. According to the Financial Aid and Student Fee Payment Regulations, the HUF stipend recipients are required to open a Hungarian Forint bank account in Hungary on their own names.

The EUR stipend recipients have to fill in the online matriculation form to be able to collect their first stipend by receiving a voucher (cash withdrawal form) at Nador 9 Cash Desk (opening hours: point 7). The voucher can be cashed at the nearest branches of CIB Bank (Szent Istvan korut 15. OR Bajcsy-Zsilinszky Endre ut 5-7).  From the second stipend on, the EUR stipends will be transferred to the recepients' EUR bank account. 

5. When is the stipend paid?

According to the Financial Aid and Student Fee Payment Regulations the monthly stipend is transferred to the students' bank account by the 4th day of each month.

6. Why is my stipend more (or less) in September and June?

The first and last stipends are pro-rated which means it is calculated for the exact number of days for the program.  In some cases the first and last stipend can be more or less then the stipend amount listed in the Enrollment Confirmation Form.

7. I am a 2nd year student, how and when do I receive my stipend?

Once your program has officially started (Sep 11th), please go to the Cash Desk to pick up your September stipend.  The stipend will be provided in cash for the month of September only. 

8. What is the role of the Budget and Finance Office (BFO)?

The Budget and Finance Office is the office where various payments are disbursed. If you expect to receive any scholarships, check first if the payment is initiated by the Financial Aid Office or your department.

9. What are the opening hours of the Cash Desk and where is it located?

The opening hours of the Cash Desk are the following: Monday - Friday: 10:00 AM - 12:00 PM and 1:00 PM - 3:00 PM. The Cash Desk is in the Nador 9, Monument Building, in the basement, next to the café.

10. Does CEU recommend any banks?

CEU does not endorse or recommend the services of any banks in Hungary. CEU agreed with some major banks in Hungary on providing special conditions for the CEU students. Usually the base of the special conditions is the regular monthly stipend income. 

11. What do I need to open a bank account in Hungary?

You need to visit the selected bank personally. You will need to have your passport or personal/national ID (concerns to EU Citizens) with you. If you are a non-EU citizen, you might need your residency permit as well for the process. If you open a bank account according to special conditions offerred to CEU students, you will also need your CEU student ID. For more information on the exact process, please contact the bank you choose.

12. What does ATM stand for?

ATM stands for Automatic Teller Machine, which disburses money.

13. The ATM in the lobby of CEU is not working. Where should I go?

The machine in the CEU lobby is a courtesy machine from CIB Bank. If the ATM is out of order, the bank and its information technology provider receive automatic notification on the problem and they will do their best to repair it at their earliest convenience. In the meantime, please use one of the ATMs located close to CEU:

  • CIB Bank, Szent Istvan korut 15
  • CIB Bank, Bajcsy-Zsilinszky Endre ut 5-7
  • K&H Bank, Arany Janos utca 20
  • OTP Bank Headoffice, Nador utca 16 
  • OTP Travel (OTP ATM), corner of Nador utca and Arany Janos utca

If you notice any problems while using the ATM please call the Non-Stop call center of CIB Bank: CIB24 - 06 40 242 242 or visit the main branches of the CIB Bank (Szent Istvan korut 15 OR Bajcsy-Zsilinszky Endre ut 5-7).

CEU Contact: Tamara Bobor - Budget and Finance Office, BoborT@ceu.edu, ext. 2056. Office hours:  Monday-Thursday: 1:00 PM - 4:00 PM, Friday: 10:00 AM - 12:00 noon.

14. What should I do if the CIB ATM in the lobby of CEU does not withdraw the money requested but the amount is deducted from my bank account?

To be able to have your money back to your account, please contact your bank as soon as possible and submit your inquiry based on the technical problem you noticed with the CIB ATM. Your bank then should contact the CIB Bank here in Hungary regarding the chargeback and after the banks check all details with each other the chargeback can be started. As a result your money will be back on your account, however, unfortunately the chargeback process would take time.

15. What does PIN stand for?

PIN stands for the Personal Identification Number. It is a secret number that you received together with your bank card. This password is requested whenever you want to use the bank card at any ATMs or in any shops. Nobody can use your bank card if he does not know your PIN. Consequently, do not carry or store the PIN in the same place with the bank card. Do not provide the PIN to devices other than an ATM or the bank card-reading devices used in stores. If you enter an incorrect PIN three times, the ATM will block and withraw your bank card. You will then need to contact the bank administrators for getting information about the further steps you should take.

16. What can I do if I am outraged by some of the fees charged by the banks in Hungary?

The fees that you have been charged with have to be in line with the current conditions of your bank account package. The fees reflect the market conditions in Hungary, so you should ask for the relevant information on the fees applicable in advance before requesting any services from your bank.  Note that the banks in Hungary have right to change their fees unilaterally, certainly they have to announce it to their customers in advance. Usually the notification on the changed conditions is available on the website of the bank, or they send the information to e-banking e-mail box of the customer.

If the bank overcharged you, you have to contact the Customer Service of the bank for getting information about the further steps you should take.

17. Where can I use my bank card?

You can use your bank card where you see the logo of your card (e.g. VISA, MasterCard, etc.).

18. Do I need to handle my bank card with care?

All the information on the bank card is stored on the black magnetic strip on the back of the card. Do not store it near objects/devices that have a magnetic field: mobile phones, speakers, refrigerators, conveyor belts in stores, etc. If the magnetic strip is damaged, the bank card is invalid and it needs to be replaced.

19. What should I do if I lose my bank card?

Call the bank which issued your card immediately when you notice the loss and ask them to have the card cancelled. Then contact the bank personally and ask for a replacement card.  Handle the card with care - losing it will have costly consequences (cancellation and replacement fee).

20. What are the most common fees associated with the bank card?

Replace the bank card, new PIN code, bank card blocking fee. There are higher fees for USD and EUR bank cards.

21. Should I open a EUR bank account at Hungarian banks?

Yes, if you receive your stipend in EUR and you have no own EUR account. See what the conditions are and compare them with each other before deciding which bank to choose. CEU does not endorse the services of any banks.

22. Can I get a Visa (classic) or a MasterCard from a Hungarian bank?

Yes, but please study their terms and conditions carefully and do not hesitate to contact the bank if you have any questions.

23. I received a check. How can I cash it?

Not all of the Hungarian banks accept and cash checks, as it is not a common payment method in Hungary, so clearing a check is a very expensive and time consuming process. You will not receive the money immediately, because the chosen bank in Hungary will send the check to the issuing bank and then will wait for the money transfer. This procedure takes approx. 4-6 weeks, but it can be quicker if you pay some extra costs. Therefore, it is more advantageous for you to find a different payment method e.g. wire transfer, card payment, online payments, etc.

24. How can somebody send me money?

The most rapid method is the wire transfer to your HUF or foreign currency account. The sender will need to specify your name, your IBAN (International Bank Account Number) and the SWIFT code of your bank (sometimes the name of your bank and the address of it are needed as well).

25. What should I do if I think some money disappeared from my bank account?

There must be an error and you should demand your bank to fix the problem. Contact your bank (in person with your passport ) and bring any documentation available and describes the problem. Always check the transaction via your e-bank access first. 

26. Who is considered as Non-Scholarship Student?

A student who does not receive any stipends from CEU (either a  Full fee-paying student or a Partial or Full tuition Scholarship recipient).

27. Do I need to open a bank account in Hungary if I am a Non-Scholarship student?

Not necessarily, it is optional. Examine your needs and the benefits and decide accordingly if you open a bank account in Hungary or not.

28. What do I need to open a bank account in Hungary?

You need to visit the selected bank personally. You will need to have your passport or personal/national ID (concerns to EU Citizens). If you are a non-EU citizen, you might need your residency permit for the process. If you open account according to special conditions offerred to CEU students, you will also need your CEU student ID. For more information on the exact process, please contact the bank you choose.

29. Do employees in Hungarian banks speak English?

Not always, it is usually depends on the location of the chosen branch.  If you feel uncomfortable about their English skills, visit another branch/bank where your questions are answered better.

30. When I wanted to open an account, they gave me a lot of papers in Hungarian to sign. Is that safe?

If you feel uncomfortable with signing papers in Hungarian, ask the bank to provide you with forms in English. If they cannot provide the English versions, consider visiting another office of the same bank.

31. Which is the best bank in Hungary?

CEU does not endorse or recommend the services of any banks in Hungary. CEU agreed with some major banks in Hungary about special conditions for the students. Usually the base of the special condition is the regular stipend income. 

32. Can I get a credit card in Hungary?

The conditions are restrictive (e.g. various certificates, a minimum balance on your account), so it depends on your personal preferences whether or not worth trying to obtain one.

33. Can I have a bank card from my Hungarian bank?

Yes. It can be tied to the foreign currency or the Forint account opened at the bank.

34. In Hungary, can I use the card I have from a bank in my home country?

Yes, but you will be able to cash only HUF from ATMs. Compare if this is more advantageous for you than changing cash in the bank or at an exchange office. Get information from your own bank about the cash withdrawal fees.

35. Which is better: to have money transferred into my Hungarian account or to use the card I have from my home country?

Ask information from your own bank about the charges and commission fees to be able to choose the less expensive payment method.

36. How and where do I pay tuition?

Cash, wire transfer, on-line payment, payment by your card at the Nador 9 Cash Desk are the available methods of payment. If you choose the payment in cash, click on the following link for the location and opening hours information.

Mon - Fri: 10:00 AM - 12:00 PM and 1:00 PM - 3:00 PM

37. Can I pay tuition in a currency other than EUR?

Yes in HUF or in USD, converted on the daily exchange rate of MNB (Hungarian National Bank). Exchange rates posted daily on our website https://www.ceu.edu/admissions/funding-fees/tuition-fees/financial-regulations (bottom of the page / MNB currency rates). Always use the most current one. You can also find this information at Nador 9 Cash Desk. Usually it is more advantageous for you to pay in that currency, which is indicated in your Enrollment Confirmation Form: General Deposit, Tuition fee in EUR, Student Enrollment fee in HUF.