Interbank money transfers to be reduced to one hour

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Intra-day interbank money transfers will now be performed an average in one hour as of September 7 from the current two hours, through the introduction of ten clearing cycles instead of five, vg.hu reported on Saturday.

Additionally, transfers initiated after bank closing times will be executed on the following day, one hour prior to the bank’s opening times. The intra-day transfer window of banks will also be extended by 30 minutes.

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