Twice a month, for a maximum of HUF 40,000, cash can be taken free of charge from merchants when paying by card - this is also included in the amendment to the package of proposals affecting the financial sector, which was adopted by the Parliament's Legislative Committee at its meeting on Friday.
The change facilitates the so-called cashback service. The shops and merchants who undertake to provide the service provide the possibility of cash withdrawal to their customers who buy from them with a card. Therefore, in the future, the payment service provider may not charge a fee twice a month, totaling HUF 40,000, similarly to free cash withdrawals from ATMs twice a month, totaling HUF 150,000.
Natural persons are also exempt from certain transaction fees.
The change also states that, in the absence of a different legal provision, as long as the national debt exceeds half of the gross domestic product, Hungary will not support an extraordinary and temporary increase in the upper limits of the European Union's own resources, if its purpose is to cover the capital market borrowing on behalf of the European Union or providing a guarantee.
At the request of the European Commission, the board also adopted changes to the package of laws necessary for the successful conclusion of the conditionality procedure. According to one of them, the administrative deadline of the transparency authority procedure will be reduced from sixty to forty-five days, and the upper limit of the fine will increase from twenty million forints to fifty million forints.
In parallel, the proposal increases the number of deputy presidents of the National Data Protection and Freedom of Information Authority to two in order to facilitate the smooth conduct of the transparency official procedure.
The Parliament is expected to vote on all of this next Wednesday.
Source: MTI
Photo: Getty Images
