National Bank Proposes Keeping HUF 15,000 PIN Code Threshold

  • 13 Jul 2020 8:59 AM
  • Budapest Business Journal
National Bank Proposes Keeping HUF 15,000 PIN Code Threshold
The National Bank of Hungary (MNB) is proposing to maintain the current limit for the mandatory use of the PIN code for touch card purchases, which was increased from HUF 5,000 to HUF 15,000 from March 20, said Lajos Bartha, the MNB’s managing director, at a press conference in Budapest, writes origo.hu.

Presenting the 2020 Payment System Report, the director added that the central bank had originally proposed raising the value limit, later confirmed by a government decree, until the end of December 2020.

The measure indirectly reduced the risk of the virus spreading by helping limit the number of times a person needed to visit the shops.

Asked whether there had been any increase in cases of abuse with the introduction of the higher threshold, Bartha said the data did not indicate so.

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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