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Bank card purchases remain free of charge in spite of transactions duty

Competition

Hungarian banks will continue to allow their clients to make purchases with bank cards free of charge, in spite of the introduction of a 0.2% duty on such transactions from the start of 2013, business daily Napi Gazdaság said on Tuesday.

A few banks said earlier they would pass the cost of the duty on to clients, but these later reverted to their earlier practice, the paper said. Banking industry insiders told the paper that lenders are adding the transactions duty to interchange fees, a fee typically paid by the retailer's bank to the cardholder's bank every time a bank or credit card is used.

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