Instant Bank Transfer In The Pipeline

  • 15 Dec 2016 10:00 AM
Instant Bank Transfer In The Pipeline
The MNB has approved the implementation of instant bank transfer technology, the central bank announced on Wednesday. Instant transfers will be possible around the clock each day of the week for up to Ft 10 million.

As a new feature, bank transfers will be possible through the phone number of the addressee.

Instant transfers will be cheaper and more convenient for consumers and will enhance the competitiveness of the Hungarian banking system, MNB added.

Technical elements will be developed early next year and the service will be launched no later than the second half of 2019.

Source: Hungary Around the Clock

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