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Central bank renews call on Revolut to set up Hungarian unitCentral bank renews call on Revolut to set up Hungarian unitCentral bank renews call on Revolut to set up Hungarian unitCentral bank renews call on Revolut to set up Hungarian unit
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Daily News Daily News · 18/01/2022
· Business

Central bank renews call on Revolut to set up Hungarian unit

Baltic region economy Hungary National Bank of Hungary
revolut junior
Revolut Bank should conduct its activities in Hungary as a subsidiary, with a local HQ and capitalisation, the Hungarian central bank (NBH) said on Tuesday, renewing its call on the bank, last made in September, to start the licencing procedure for a local unit.
 
Currently, Revolut Bank’s several hundred thousand clients in Hungary must turn to the Lithuanian authorities with any legal complaints in Lithuanian or English, the NBH, which is also Hungary’s financial watchdog, noted, adding that
 
whereas it supported competition and innovation to improve efficiency and cut costs among market players, these aims must not be allowed to compromise the interests of Hungarian clients.
national bank of Hungary -mnb nbh
Read alsoTackling inflation top priority, says governor of Hungary’s central bank

Baltic region economy Hungary National Bank of Hungary
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1 Comment

  1. Anonymous says:
    19/01/2022 at 04:05

    No one is forcing “Hungarian clients” to use the app. If they don’t speak English(or have a good translation tool on their phone or computer browser), then they don’t have to and shouldn’t use it. The world does not revolve around Hungary and the Hungarian language..

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