The free TBSZ

A Tartós Befektetési Számla (TBSZ) is a tax-advantaged Long-term Investment Account for Hungarian tax residents. The main benefit is a reduced tax rate of 0% on investment returns after 5 years.

To open a TBSZ account, you must be:

• Over 18 years old
• A Hungarian tax resident
• A Hungarian resident

The Hungarian law currently only allows banks to pass on interest on the money users hold in their TBSZ account. As a regulated investment service provider, today, we can only pay interest on your money in your general Lightyear account.

Within the TBSZ account, you can make the most out of today’s high interest rates with BlackRock’s money market funds.

To open a TBSZ account, you must be:

• Over 18 years old
• A Hungarian tax resident
• A Hungarian resident

To open the account, you need to:

• Open or log in to your personal account
• Navigate to your profile on the top left corner of the app
• Click on “Add another account”

There's two ways to deposit money to your TBSZ:

1. You can directly deposit to TBSZ by card payment.
2. You can transfer money to your general Lightyear account, then move it to your TBSZ balance (here's a guide to deposits into Lightyear). To move money between balances on Lightyear, just select 'Deposit' on your TBSZ Portfolio page and choose your general account balance for the payment. Bank transfers into Lightyear are free of charge but might take longer than card payments.

Keep in mind that you can only deposit into a TBSZ during the collection year of that account, meaning the calendar year that you opened your TBSZ. You can deposit and hold money in the same currencies as with the Lightyear general account.

Yes, you can transfer your TBSZ to Lightyear from another bank or broker. To start a transfer, just go to "Transfer your Portfolio" from your Lightyear's main menu and pick “TBSZ”.

You can find specific instructions for TBSZ transfers here.