Changes in ATM Cash Withdrawals, Impacting All Bank Card Owners
Many are unaware that withdrawing cash using a mobile wallet application is possible, but it’s contingent on the compatibility of the specific bank's ATM.
Those who have digitized their bank cards on their mobile phones can likely withdraw cash from most ATMs without the need for a physical card. Several of these ATMs are operable via a mobile wallet application – reports Magyar Nemzet, citing Bankmonitor.
According to statistics from 2023, 18 percent of domestic bank cards were registered on Apple Wallet, Google Wallet, or some other bank-specific mobile wallet application. Moreover, 14 percent of card payments last year were made through a mobile wallet.
ATMs capable of mobile wallet transactions are indicated by a PayPass icon.
In such cases, the process of withdrawing cash is similar to using a plastic card, with the main difference being that instead of inserting a card into the machine, users are prompted to tap their mobile device against the sensor.
It's important to note that even when using a mobile wallet, entering the PIN code is still necessary; fingerprint identification is not accepted for this purpose.
It is well known that customers can withdraw cash up to two times per month, with a maximum of 150,000 HUF, free of charge from any bank's ATM offering currency in HUF, and this benefit extends to contactless withdrawals as well.
The number of ATMs capable of contactless withdrawals is steadily increasing. Currently, Erste Bank stands out as the only bank where all of its own ATMs are compatible with digitalized cards. Conversely, K&H Bank is unique in that all of its ATMs currently only operate with physical bank cards.
UniCredit Bank forms a separate category, allowing cash withdrawals without a card at all of its ATMs, though this necessitates the use of its mobile application's mCash service.