Fintech firm Revolut is set to phase out its cash deposit service in Hungary this month after a twp-year trial period, according to a report by fintech news portal revb.hu
In December 2023, Revolut launched the option of cash deposits in Hungary for a select group of users. The company collaborated with Paysafe to offer the service, and cash deposits were possible at OMV gas stations.
Revolut charged a 2.5% fee for cash deposits. A few months after the start of the test period, Revolut reduced the deposit limits, including a maximum of HUF 209,000 forints per day. The annual deposit limit of HUF 7.5 mln was also reduced to HUF 1.9 mln, according to the report.
However, instead of a full-scale rollout, Revolut has recently informed the clients who had access to the service that cash deposits at gas stations will be discontinued.
The vast majority of Revolut users will not notice this much, as most clients have not been able to take advantage of this option so far, the report notes.
Based on the information sent to the users participating in the trial period, it will no longer be possible to deposit cash into Revolut accounts from January 26, 2026.
It will not be possible to deposit cash into Revolut accounts at bank branches or ATMs either. Revolut’s own ATMs are already available in some countries, offering free cash deposits.
At the moment, it is not known whether Revolut will offer its own ATMs or other cash deposit options in Hungary once its local branch begins operating, the report adds-