Magyar Posta changes postal check policy

Telco

Hungarian state-owned postal company Magyar Posta now qualifies a check payment made via bank card as a purchase rather than a cash withdrawal, CEO Szarka Szolt said on Friday. The measure will spare customers the associated bank withdrawal fees.

According to state secretary for postal affairs Zsuzsa Németh, the new system could save customers an annual HUF 1.5 bln . The investment necessary to make the changes cost Magyar Posta net HUF 1 bln, Szarka said.

Last year, Magyar Posta customers used almost 220 mln postal checks for some HUF 2.200 trillion in bills and other payments. About 85% of the adult Hungarian population uses postal checks to make such payments.

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