The EU issued a standard declaration form and Hungarian travellers can make the declaration either in Hungarian or in English. The obligation to declare large cash amounts upon crossing the external borders of the EU is an integral part of the European Union strategy to prevent money laundering and to fight terrorist financing.
The standard declaration form can be downloaded from the following NAV website
EU Cash Declaration Form, Hungarian version: CDF_HU.pdf
EU Cash Declaration Form, English version: CDF_EN.pdf
Please note that there are special review and declaration requirements for cash movements within the community in certain Member States of the European Union. We suggest that you contact the Embassies in Hungary of the countries you are about to visit to find out if they have such requirements in place.
Items subject to the declaration obligation:
- currency - banknotes and coins that are in circulation as a medium of exchange
- negotiable securities - monetary instruments in bearer form, endorsed without restriction, made out to a fictitious payee, or otherwise in such form that title thereto passes upon delivery;
- incomplete instruments signed, but with the payee's name omitted;
- e.g. traveller's cheques;
- promissory notes;
- money orders.
The cash declaration obligation does not apply to:
- precious metals;
- precious stones;
- currency that no longer qualifies as legal tender;
- old coins (coins for collectors) and coins made of precious metals;
- non-convertible bank notes and coins;
- electronic cards.
If someone fails to or does not fully and/or accurately comply with the above cash declaration obligation, a fine will be imposed corresponding to 10, 40 or 60 per cent of the amount in question, and the Customs Authority will take measures towards payment of such fine on site. If the fine is not paid on site, the Customs Authority is entitled to withhold an amount corresponding thereto.
More information: http://ec.europa.eu/taxation_customs/customs/customs_controls/cash_controls/index_en.htm