Central Banking

Hungary launches same-day credit transfer system


The National Bank of Hungary today (July 2) said a system of intraday credit transfers had been launched "smoothly".

"From today, electronically submitted credit transfers will reach their destination within a maximum of four hours, instead of the earlier transfer time of one business day," said the central bank.

The system was introduced following a development project that lasted nearly two years. The faster transfer time is only for domestic forint payments. As the system operator settles

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