Tag: Deposit

Hungary central bank unexpectedly hikes deposit rate, may need to act again

By Krisztina Than and Gergely Szakacs

BUDAPEST, Sept 24 (Reuters)Hungary’s central bank unexpectedly raised the interest rate on its one-week deposit facility NBHK by 15 basis points to 0.75% on Thursday, saying the move was aimed at preventing a rise in inflation risks.

The rate hike at Thursday’s deposit tender came two days after the National Bank of Hungary kept all of its main interest rates unchanged at a rate-setting meeting.

The central bank said on Thursday it was committed to maintaining price stability even amid the coronavirus pandemic.

“The NBH wants to prevent a rise in inflation risks due to the current uncertain environment, and thus decided to raise the rate on the one-week deposit,” it said in a reply to questions.

The bank also said it would monitor short-term market rates closely to ensure that they are “in every sub-market and at all times” consistent

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Coronavirus travel refund battles expose deposit shell game

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The Grand Palladium resort in Punta Cana was a swank respite in March for Leigh Anne Belcher and her daughter until they got a call to stop by the front desk about a billing question. 

Their travel agency, swamped with coronavirus cancellations, had abruptly closed its doors and disconnected its phone lines – and refused to pay the hotel for the room even though Belcher had already paid the agency in full for the trip.

On the spot, Belcher had to come up with thousands of dollars to pay the upscale hotel, which threatened to call authorities and also advised the front-gate attendants to make sure no one escaped without paying. When she and her daughter tried to head home to Lexington, Kentucky, they had to shell out more money; their flight had been canceled and the airline wouldn’t allow them to change it since it, too, was booked

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EVO Rolls Out Express Deposit B2B Push Payments

To help merchants receive faster access to funds, EVO Payments Inc. has rolled out its Visa Direct-enabled EVO Express Deposit real-time push payments technology. The offering lets eligible U.S. retailers instantaneously get funds for card transactions with actual fund availability depending on receiving bank and geographic area, according to a Thursday (Sept. 17) announcement.

“Our ability to accelerate our merchants’ access to funds, particularly when they need it most, will provide increased flexibility and enhance the financial strength of their businesses now and in the future,” Brendan F. Tansill, EVO’s President in the Americas, said in the announcement. “Our merchants will derive increased confidence and satisfaction knowing that Express Deposit is a fast and secure solution enabled by a leading digital payments company, such as Visa.”

The offering is meant to help small and medium-sized businesses (SMBs) with surmounting cash flow hurdles to

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