The bank card may be retired: the missing puzzle piece has been added to the digital banking table

K&H Bank has reached a new milestone with its digital developments: all of the financial institution’s ATMs have become NFC-enabled. In practice, this means that cash transactions can now be carried out without a physical card, using a smartphone. By fully NFC-ing its network of 550 ATMs, the bank not only supports cash withdrawals, but also virtual card deposits. Considering the entire ATM network, K&H is currently the only company on the Hungarian market to offer such a service nationwide.

It affects a lot of transactions

“This is a truly defining digital innovation, as the lack of a physical card is no longer an obstacle. Our customers can use their virtual card immediately after opening an account, whether it is for deposits or withdrawals, even without having to take out their physical card”

– emphasized Norbert Kováts, Head of Retail Network Development at K&H. The expert added that it is of course still possible to withdraw or deposit cash with a physical card. According to him, this innovation is a missing piece of the puzzle that perfectly complements digital developments and services available via mobile.

The magnitude of the step is indicated by the fact that customers made a total of more than 12 million cash withdrawal and deposit transactions with K&H ATMs in 2024. 77% of K&H customers are considered digitally active, and the proportion of those who regularly use the smartphone application exceeds 68%.