Automated money order payment developed in Hungary

Magyar Posta and Erste Bank are trialling an automated money order payment scheme.
It will allow customers with a bank card to pay “yellow” postal cheques (postal money orders) that have been completed mechanically at 12 Erste Bank ATMs, developed by Diebold, 24 hours a day.

Erste Bank customers and people holding a Posta account will be able to use the service for free; while there will be a cash withdrawal transaction fee for external banking customers.

Each year, about 271.2m yellow postal order payments are registered, involving the payment of HUF 3,000bn (EUR 11bn), which may be considerably accelerated thanks to the use of this new procedure.

After the 3-month trial period Magyar Posta and Erste Bank will assess whether or not the service should be expanded or further developed.