Bank card purchases remain free of charge in spite of transactions duty
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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.