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23rd May, 2019

Varga would postpone instant bank transfers

Finance Minister Mihály Varga and Hungary’s banks would prefer that the MNB delay the launch of instant bank transfers beyond its scheduled date of July 1, Napi reports.

Varga has said that a test period is advisable, adding that the ministry also postponed the introduction of online cash registers until all problems were fixed in a test phase.

Earlier news and rumours indicated that several banks would like to see the start date delayed.

In the new system any bank transfer will arrive within five seconds 24 hours a day, seven days a week.

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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