New ATM rules have come into effect: every settlement will have an ATM
According to the government’s recent decree Hungary It will be mandatory to operate a ATM in each of its settlements. The new regulation was published in the latest Hungarian Gazette and aims to provide access to cash for people living in smaller settlements.
What is behind the decision?
THE ATMs Its availability has long been a topic of debate, especially for smaller villages and villages, where it has not been possible to use ATM at all. Márton Nagy, Minister of National Economy, has recently stated that every Hungarian settlement requires an ATM. The decision was also prepared by Prime Minister Viktor Orbán’s annual speech, in which he emphasized: « We will give a positive answer to the motion of representatives that would guarantee the right to cash in a constitution. Cash is a matter of freedom. »
What does the regulation contain?
The legislation puts a brief and concise: « The government… It also agrees that at least one automatic banknote publishing machine (ATM) must be ensured in all settlements in Hungary in order to make the populationless access to financial services. » It will be the responsibility of the Minister of National Economy to prepare for further details, who will have to submit a proposal by 30 April.
New ATM rules have come into effect: Each settlement will have an ATM / Photo: Northfoto
How feasible is this plan?
Currently, the operation of the ATMs is mainly carried out by commercial banks, and the installation and maintenance of such equipment will cost considerable costs. Security measures, cash refueling and operation are all significant for financial institutions. According to the latest data from the MNB in December 2024, there are currently 5140 ATMs in the country, most of which are located in metropolitan and busy locations. The new regulations can force banks to make significant investments in the infrastructure.
What does this mean to the population?
THE cash payment And withdrawals is essential for many, especially for older generations who are less happy to use online banking services. For residents of rural areas, this decision can make it a great relief, as they do not have to travel to remote cities for a simple cash withdrawal. However, it is questionable how much the banks will be willing to take on the burden of this obligation.
The new ATM decree aims to improve access to cash, especially for people living in smaller settlements. Although the expectation is clear, the practical implementation raises many questions. Will the banks be willing to finance the placement of new vending machines or is the government introducing a support system? This may be one of the most important economic issues in the coming months.
Source: Forbes.hu
