Government mandates ATMs for every settlement in Hungary, and the cost is passed on to the banks 🔄

National Economy Minister Marton Nagy called for ATMs for every settlement in a Monday post on his Facebook page. Now, government and bank leaders are looking for a solution:

“We have decided: all existing ATMs must be operated, not a single one can be dismantled!” the minister said yesterday.

Minister, banking leaders discuss expanding ATM network

Top officials of the Hungarian Banking Association have met with Minister Nagy to discuss expanding the nationwide network of ATMs, the association said in a statement issued on Tuesday.

At the meeting, the association affirmed its commitment to expanding ATM coverage geographically and acknowledged constructive cooperation and a common will to boost economic growth.

The association also highlighted the importance of proportionality and pressed for foreign-based bank card issuers to participate in efforts to boost the availability of ATMs.

As we wrote earlier, margin regulation on certain food products came into effect in Hungary, and the government was so eager to introduce it that it threatened the banks with similar regulations, details HERE.

UPDATE

In a separate statement issued on Tuesday, the National Economy Ministry said the government welcomed the association’s decision to ensure an ATM in every settlement with a population over 2,000 as a first step.

It added that the government counts on banks’ constructive cooperation to start bringing ATMs to every settlement with a population over 1,000 as the next step. The government aims to ensure an ATM in every settlement to support the retention of rural populations, the ministry said.

According to the government decree published yesterday, all existing ATMs must be kept in operation, they cannot be dismantled. In addition, from January 2025, the possibility of withdrawing up to HUF 150,000 in cash free of charge twice a month has been opened at postal service points. This is a significant help for people living in municipalities where no ATM is yet available but where there is a post office.