Payment service providers must report electronically, via a machine-to-machine connection, on the payment services they provide in Hungary. The information must be retained also in electronic format for 3 years following the year in which the payment is made (dated).
The beneficiary's payment service provider must report payment information if the payment is made between EU Member States. If the payment is made to a non-EU country, the paying party's payment service provider is responsible for such reporting.
Cross-border payment data are reported on a quarterly basis, by the end of the month following the reference quarter.
The submission deadline for the reports/data supplies is as follows:
- January-March: 30 April
- April-June: 31 July.
- July-September: 31 October
- October-December: 31 January
Data will then be provided,
- if more than 25 cross-border payments are made to the same Hungarian beneficiary/recipient in the reference quarter, or
- if the same number of transactions is made to a beneficiary/recipient in a third country.
In the first case, the recipient's payment service provider is the one obliged to supply data, and in the second case, the paying party's payment service provider is the one obliged to do so.
For more information on data supply, please consult the guidelines published by the European Commission, available at the following link: