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Banking fees skyrocket in Hungary: new government price caps can come
National Economy Minister Márton Nagy said the government wanted to see “fair” banking fees in a video message posted on Facebook on Friday.
Nagy said significant increases in banking fees in February were “not in any way justified”, pointing to a 15pc rise in cash withdrawal fees, a 26pc increase in account fees and a 6pc increase in annual bank card fees.
At talks with the Hungarian Banking Association on voluntary price limits, especially for families and pensioners, lenders’ initial offer was “pretty weak”, he said, adding that the talks would continue.
He suggested banking fees should be reduced to around levels at the end of 2024 or mid-January 2025.
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I find it incredible that in Hungary you have to pay banks a percentage fee of your money that you withdraw. It’s legal theft.
OTP even charges its clients when they send money to another OTP customer.
It is incredible that the Fidesz Government allows banking giants like OTP to rob their own clients with fees.
It is an ongoing “corruption” by the Government.
There are NO banking fees in the West, like in the UK.
It appears that Orbán is a good friend to the Bankers, as he allows his citizens to be mugged by the wealthy and powerful banking companies.