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13th February, 2019

UniCredit launches cash withdrawal via phone

UniCredit has launched Hungary’s first smartphone-based cash withdrawal service, “mCash” the bank announced on Tuesday.

In the system, the bank sends a code to the phone, which code must be entered into an ATM for cash withdrawal.

In a survey of its clients UniCredit found that one in four customers was ready to use this service.

UniCredit has 170 ATMs which are able to handle the mCash technology, technical director János Anschau highlighted.

Cash withdrawals are limited to Ft 30,000 per occasion and Ft 100,000 per day.

The fee for withdrawals is 0.66% of the amount withdrawn, with a minimum of Ft 245 – the same as charged for withdrawals by bank card.

The two free cash withdrawals per month required by law also applies to this service.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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