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All shops in Hungary must offer cashless payments from January 1, a government official noted in Wednesday’s issue of Magyar Nemzet.

Gábor Gion, a state secretary of the finance ministry, said

the estimated 60,000 cash-only shops with an online cash register will have to accept bank cards, payments via mobile phones or money transfers.

The new rules lawmakers passed on Friday are aimed at curbing the black economy, Gion said. Also, the costs of handling the “enormous amount of cash currently circulating in Hungary” will be reduced, he said, adding that there was a hygiene element in light of the virus situation.

Daily News Hungary economy
Read alsoHungary’s tax changes in force from July 1 to save taxpayers one billion euro

4 comments
  1. does it mean cashless option ( hope so!) or ONLY CASH<LESS / NO CASH

  2. HERES WHAT NO CASH ACTUALLY MEANS:

    A cashless society means no cash. Zero. It doesn’t mean mostly cashless and you can still use a ‘wee bit of cash here & there’. Cashless means fully digital, fully traceable, fully controlled. I think those who support a cashless society aren’t fully aware of what they are asking for. A cashless society means:

    * If you are struggling with your mortgage on a particular month, you can’t do an odd job to get you through.

    * Your child can’t go & help the local farmer to earn a bit of summer cash.

    * No more cash slipped into the hands of a child as a good luck charm or from their grandparent when going on holidays.

    * No more money in birthday cards.

    * No more piggy banks for your child to collect pocket money & to learn about the value of earning.

    * No more cash for a rainy day fund or for that something special you have been putting $20 a week away for.

    * No more little jobs on the side because your wages barely cover the bills or put food on the table.

    * No more charity collections.

    * No more selling bits & pieces from your home that you no longer want/need for a bit of cash in return.

    * No more cash gifts from relatives or loved ones.

    What a cashless society does guarantee:

    * Banks have full control of every single penny you own.

    * Every transaction you make is recorded.

    * All your movements & actions are traceable.

    * Access to your money can be blocked at the click of a button when/if banks need ‘clarification’ from you which will take about 3 weeks, a thousand questions answered & five thousand passwords.

    * You will have no choice but to declare & be taxed on every dollar in your possession.

    * The government WILL decide what you can & cannot purchase.

    * If your transactions are deemed in any way questionable, by those who create the questions, your money will be frozen, ‘for your own good’.

    Forget about cash being dirty. Stop being so easily led. Cash has been around for a very, very, very long time & it gives you control over how you trade with the world. It gives you independence. I heard a story where a man supposedly contracted Covid because of a $20 bill he had handled. There is the same chance of Covid being on a card as being on cash. If you cannot see how utterly ridiculous this assumption is then there is little hope.

    If you are a customer, pay with cash. If you are a shop owner, remove those ridiculous signs that ask people to pay by card. Cash is a legal tender, it is our right to pay with cash. Banks are making it increasingly difficult to lodge cash & that has nothing to do with a virus, nor has this ‘dirty money’ trend.

    Please open your eyes. Please stop believing everything you are being told. Almost every single topic in today’s world is tainted with corruption & hidden agendas. Please stop telling me & others like me that we are what’s wrong with the world when you hail the most corrupt members of society as your heroes. Politics & greed is what is wrong with the world; not those who are trying to alert you to the reality in which you are blindly floating along whilst being immobilised by irrational fear. Fear created to keep you doing & believing in exactly what you are complacently doing.

    Pay with cash & please say no to a cashless society while you still have the choice.

  3. ERV, your response is spot on. I totally agree with you in every detail. This is the best reader response I have ever read on Daily News Hungary, you forgot one thing.. Socail Credit Scores like China uses could also resort in your digital money being turned off because you said the wrong thing or offended someone. Another reason to resist a cashless society.

  4. I hope this stops lawyers wanting their fees paid in cash. On a recent property transaction the lawyer wanted cash and was most aggrieved when I told him that I want a full VAT Invoice which my accountants would duly send to NAV as part iof my tax return. Only then did he agree to payment by bank transfer. Slimy toad.

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