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You might think, “It’s 2025, can’t I just use my card everywhere?” And yes, Budapest is increasingly card-friendly. But trust me, having some Hungarian Forints (HUF) in your pocket is essential. You’ll need it for those irresistible treats at the Great Market Hall, for a quick coffee at a tiny local kávézó, for tipping your excellent tour guide, or for those serendipitous finds in little antique shops that don’t always do plastic. While some tourist-heavy spots might grudgingly accept Euros, they often do so at exchange rates that’ll make your wallet weep. Getting a fair deal on your Forints isn’t just about saving a few bucks; it sets a positive tone for your entire trip, making you feel savvy and in control from the get-go. This post is my personal guide, honed over years of living here and, yes, trying pretty much every option, to help you exchange your currency smartly, avoid the pitfalls, and keep more of your cash for experiencing the magic of Budapest.
The Local Lowdown: Understanding Hungarian Forint (HUF) Like a Pro – Your Quick Guide to Hungarian Money
First things first, let’s get acquainted with the local currency: the Hungarian Forint, abbreviated as HUF or often just Ft. It was introduced way back in August 1946 and has been the lifeblood of Hungarian commerce ever since.
You’ll encounter a few different banknotes and coins during your stay:
- Banknotes: 500 Ft, 1,000 Ft, 2,000 Ft, 5,000 Ft, 10,000 Ft, and the big 20,000 Ft note.
- Coins: 5 Ft, 10 Ft, 20 Ft, 50 Ft, 100 Ft, and the 200 Ft coin (which is bimetallic and quite distinctive).
Now, while counterfeiting isn’t a massive issue, it’s always good to be aware. To quickly check if a banknote is genuine, hold it up to the light: you should see a watermark of the historical figure featured on the note, a tiny metallic mark on the hologram foil, and a dark security thread running through it. There’s even an app called “Forint App” that can help authenticate banknotes, though a quick visual check is usually enough.
And I’ll say it again: while you might see prices in Euros in very touristy areas, or some shops might accept them, you will almost invariably get a much better deal if you pay in Forint. The exchange rate offered by vendors for Euro payments is rarely in your favour. So, getting your hands on HUF at a good rate is key.
My Trusted Spots: Where This Budapest Local Actually Exchanges Currency (And Why You Should Too) – Finding the Best Exchange Rates in Budapest
Alright, let’s get down to the nitty-gritty: where should you actually go to change your money? Not all currency exchange bureaus – or pénzváltó as we call them here – are created equal. Over the years, I’ve developed a mental map of reliable zones and specific places that consistently offer fair rates and transparent service.
The “Golden Mile” of Good Rates: Navigating Exchange Offices Along the Grand Boulevard (Nagykörút – Tram 4/6 lines)
One of the best pieces of advice I can give you is to head towards the Grand Boulevard (Nagykörút). This major thoroughfare, serviced by the heavily used Tram lines 4 and 6, is actually made up of several interconnected boulevards: József körút, Erzsébet körút, Teréz körút, and Szent István körút. Why here? Simple: competition. There are numerous exchange offices along this stretch, and that competition helps keep rates relatively keen and commissions reasonable. Before I zero in on a specific place, I often do a quick search on Google Maps for “pénzváltó” in my vicinity and check recent reviews. Anything with a Google rating above 4.0, and especially 4.5 or higher, is usually a good bet for professional service.
City Center Havens: Top-Rated Changers in District V and Key Hubs
Beyond the Grand Boulevard, you’ll find other pockets of reliable exchange offices, particularly in parts of District V, the heart of the city. However, a word of caution: I’d generally advise against using exchange services directly on hyper-touristy pedestrian streets like Váci utca, or at least be extra vigilant there, as rates can sometimes be less favorable than those just a block or two away.
Detailed Spotlights on My Recommended Bureaus:
Now, for my personal go-to list. Remember, exchange rates are like the Budapest weather – they can change frequently! So, always double-check the current rates and any commissions before you commit. However, these places have, in my experience, consistently offered fair deals and transparent service. Many reputable independent exchange offices also act as intermediaries for larger banks like MBH Bank Nyrt. or MagNet Bank, which can add a layer of perceived reliability. This often provides a good balance between potentially less favorable rates at main bank branches and the uncertainty of very small, unregulated kiosks.
Here are some of my top picks, based on personal experience and consistent positive feedback:
- Correct Change:
- Why I recommend it: These guys are a well-known, nationwide network and often pop up with good, competitive rates. They act as an intermediary for MBH Bank Nyrt.. I’ve used them multiple times and found them to be straightforward. They are frequently mentioned positively by other locals too.
- Key Location(s): They have many branches, especially along the Tram 4/6 route. Some notable ones include:
- József körút 40 (near Rákóczi tér metro and ELTE university)
- Erzsébet körút 41
- Szent István körút 23
- Bartók Béla út 53
- You can find all their locations on their website.
- Typical Commission: Usually a 0.9% handling fee, with a maximum of 34,900 HUF (approx. $98.37 USD, based on an exchange rate of $1 = 354.77 HUF from May 2025 ). However, they do state that this fee can differ in some offices, so always ask. They also offer unique rates for exchanging amounts over 400,000 HUF.
- Observed EUR/HUF & USD/HUF (József krt. 40 branch, as of May 2025 ):
- EUR: Buy 400.5 / Sell 404.5
- USD: Buy 352.5 / Sell 359.8
- Google Rating: Generally high; for instance, their China Mart branch has a 4.7-star rating.
- Opening Hours: Vary by branch. For example, Bartók Béla út is Mon-Fri 08:00-20:00, Sat 09:00-17:00. The József krt. branch is listed as 8:00 am-7:00 pm.
- Website: https://correctchange.hu/en
- Northline Exchange:
- Why I recommend it: They’ve been around since 1996, which speaks volumes in this business. They are generally trustworthy, have a good presence in major shopping centres (offering convenience and often extended hours) and at key city points, and their rates are usually competitive.
- Key Location(s):
- Oktogon tér 1
- Kígyó utca 2 (off Váci utca)
- Vámház körút 2 (near the Great Market Hall)
- Westend City Center (metro level)
- MOM Park
- Typical Commission: Their website wasn’t providing specific commission details when last checked , so it’s best to inquire directly at the branch. Their general approach suggests competitive terms.
- Observed EUR/HUF & USD/HUF: As their rates page was inaccessible , you’ll need to check in person or call for current rates.
- Opening Hours: Vary by location, often extended in shopping malls, which is a big plus.
- Website: https://www.northline.hu/
- Arany Change:
- Why I recommend it: Consistently good Google reviews (4.7 stars ), a clear commission structure, and a very central location on Erzsébet körút. They are an intermediary for MBH Bank Nyrt..
- Key Location(s): Erzsébet körút 5.
- Typical Commission: 1%, with a maximum fee of 40,000 HUF (approx. $112.75 USD ). Important: They do not accept card payments for exchange.
- Observed EUR/HUF & USD/HUF (as of May 26, 2025 ):
- EUR: Buy 400 / Sell 408
- USD: Buy 352 / Sell 362
- Google Rating: 4.7.
- Opening Hours: Open every day from 9:00 AM to 8:00 PM.
- Website: http://aranychange.hu/
- Hanifa Change (also known as OrigoChange):
- Why I recommend it: They offer decent rates and, according to some online discussions, can be particularly good for more obscure currencies. Their tiered commission structure is also very clear.
- Key Location(s): Nádor utca 34 (District V).
- Typical Commission: Tiered structure :
- 0 – 15,000 HUF exchange: 3%
- 15,001 – 30,000 HUF exchange: 2%
- 30,001 – 50,000 HUF exchange: 1.5%
- 50,001 – 100,000 HUF exchange: 1.2%
- Above 100,000 HUF exchange: 1%, with a maximum of 40,000 HUF (approx. $112.75 USD ).
- Observed EUR/HUF & USD/HUF (as of May 26, 2025 ):
- EUR: Buy 402 / Sell 407
- USD: Buy 353 / Sell 360
- Google Rating: 4.4.
- Opening Hours: Monday-Friday 9:00 AM – 6:00 PM, Saturday-Sunday 10:00 AM – 5:00 PM. (Note: Some sources show different weekend hours for “Hanifa Change” , but the OrigoChange site seems more current for this specific location).
- Website: https://origochange.hu/
- Euro Change:
- Why I recommend it: Excellent Google rating (4.8 stars ), a clear commission policy, and conveniently open on weekends. They act as an agent for MagNet Magyar Közösségi Bank Zrt..
- Key Location(s): Ferenc körút 33.
- Typical Commission: 0.91%, with a maximum fee of 41,000 HUF (approx. $115.56 USD ). They note that different rates apply for exchanges under 1,000,000 HUF. Important: No card payments accepted for currency exchange.
- Observed EUR/HUF & USD/HUF (as of May 26, 2025, for amounts >1M HUF ):
- EUR: Buy 403.5 / Sell 406
- USD: Buy 354 / Sell 359
- Google Rating: 4.8.
- Opening Hours: Monday-Friday 9:00 AM – 7:45 PM, Saturday-Sunday 9:00 AM – 5:45 PM.
- Website: https://www.eurochange.hu/
- Expert Change:
- Why I recommend it: Multiple central locations, including one right at Oktogon, and consistently good Google ratings. They are an intermediary of MBH Bank Nyrt..
- Key Location(s):
- Teréz körút 21 (Oktogon)
- Teréz körút 56
- Szent István körút 12
- Typical Commission: 2%, with a maximum of 40,000 HUF (approx. $112.75 USD ).
- Observed EUR/HUF & USD/HUF: Their website advises checking rates in person or by phone as they can change multiple times a day. This is good advice for any exchange, really!
- Google Rating: 4.7.
- Opening Hours: For example, the Teréz krt. 21 branch is open Mon-Fri 9:00 AM – 9:00 PM.
- Website: http://expertchange.hu/
- Omika Currency Exchange:
- Why I recommend it: Good Google rating (4.7 stars ). Their website (though appearing a bit dated, with info from 2020) stated a very low commission. This makes it worth investigating if those terms are still current.
- Key Location(s): Bartók Béla út 16 (Buda side).
- Typical Commission: Their website from 2020 mentioned 0.3%, with a maximum of 6,000 HUF (approx. $16.91 USD ). If this is still accurate, it’s one of the lowest commissions around. Definitely verify this in person!
- Observed EUR/HUF & USD/HUF (as of August 2020 – VERY OUTDATED):
- EUR: Buy 350.10
- USD: Buy 296.50
- These rates are for historical reference only and will be very different now.
- Google Rating: 4.7.
- Opening Hours: Monday-Friday 09:00 AM – 6:00 PM, Saturday 09:00 AM – 2:00 PM.
- Website: http://omika-change.atw.hu/
To make things easier, here’s a quick comparison table. Remember that “Typical Commission” can sometimes vary, and rates are always subject to change. The USD equivalents for HUF commission caps are based on an MNB rate of 1 USD = 354.77 HUF from May 26, 2025.
Must-Have Table 1: My Top Budapest Currency Exchange Picks
| Name | Key Address (Clickable Link to Map if available) | Avg. Google Rating | Typical Commission (HUF & approx. USD) | My Insider Tip/Why I Like It | Website Link (Clickable) |
|---|---|---|---|---|---|
| Correct Change | https://www.google.com/maps/search/?api=1&query=Correct+Change+József+körút+40+Budapest | 4.7+ (varies by branch) | 0.9%, max 34,900 HUF (~$98.37 USD). Can differ by office. | Reliable, widespread, good for larger amounts over 400k HUF. | https://correctchange.hu/en |
| Northline Exchange | https://www.google.com/maps/search/?api=1&query=Northline+Exchange+Oktogon+tér+1+Budapest | N/A (check specific branches) | Inquire at branch. | Long-standing, trustworthy, good locations in malls. | https://www.northline.hu/ |
| Arany Change | https://www.google.com/maps/search/?api=1&query=Arany+Change+Erzsébet+krt.+5+Budapest | 4.7 | 1%, max 40,000 HUF (~$112.75 USD). No cards. | Good rating, clear commission, central, open daily. | http://aranychange.hu/ |
| Hanifa Change (OrigoChange) | https://www.google.com/maps/search/?api=1&query=Hanifa+Change+Nádor+u.+34+Budapest | 4.4 | Tiered: 1-3%, max 40,000 HUF (~$112.75 USD). | Clear tiered fees, potentially good for less common currencies. | https://origochange.hu/ |
| Euro Change | https://www.google.com/maps/search/?api=1&query=Euro+Change+Ferenc+krt.+33+Budapest | 4.8 | 0.91%, max 41,000 HUF (~$115.56 USD). No cards. | Excellent rating, open weekends, clear fees. | https://www.eurochange.hu/ |
| Expert Change | https://www.google.com/maps/search/?api=1&query=Expert+Change+Teréz+krt.+21+Budapest | 4.7 | 2%, max 40,000 HUF (~$112.75 USD). | Multiple central spots, good ratings, long hours at some. | http://expertchange.hu/ |
| Omika Currency Exchange | https://www.google.com/maps/search/?api=1&query=Omika+Currency+Exchange+Bartók+Béla+út+16+Budapest | 4.7 | Verify! Was 0.3%, max 6,000 HUF (~$16.91 USD) in 2020. | Potentially very low commission if still valid; good rating. | http://omika-change.atw.hu/ |
Choosing where to exchange isn’t just about picking a name; it’s about understanding the local market dynamics. Locations with high foot traffic and more competition, like the Grand Boulevard or busy shopping centers, tend to foster more competitive rates. My recommendations are based on these observed patterns and years of experience. A little bit of research and a willingness to walk a block or two can genuinely lead to better value.
The Tourist Traps: Places I Wouldn’t Touch with a Ten-Foot Forint Stick – Common Currency Exchange Scams in Budapest and How to Avoid Them
Now for the flip side. Just as there are good places to exchange your money, there are definitely spots and situations you should avoid. Being aware of these “no-go” zones is just as important as knowing the good ones. It’s all about proactive risk mitigation so you can enjoy your trip without any nasty financial surprises.
- Airport & Train Station Exchanges: The Price of Convenience.
- I know it’s tempting. You’ve just landed, you want some local cash, and there’s an exchange booth right there. Resist if you can! Rates at airports (like Budapest Ferenc Liszt International Airport) and major train stations (Keleti, Nyugati, Déli) are notoriously poor. We’re talking potentially up to 15% worse than what you’d find in the city center. They prey on the captive market. My advice? If you absolutely must have cash for immediate transport (like a taxi or airport bus, though many now take cards), change only a very small amount – enough for that initial journey. Better yet, use a card for your airport transfer or find a reputable bank ATM once you arrive (more on ATMs later).
- Hotel Currency Desks: Easy, But at What Cost?
- Similar to airports, your hotel might offer currency exchange. It’s convenient, no doubt, but you’ll almost certainly pay a premium for that ease in the form of high exchange rates or hefty fees. Unless it’s an absolute emergency and you have no other option, give the hotel exchange desk a miss.
- Váci Street & Street “Hawkers”: A Recipe for Rip-offs.
- This is a big one. Never, ever exchange money with individuals on the street. You might be approached in heavily touristed areas, especially along Váci utca, by someone offering seemingly great rates. Don’t fall for it. It’s illegal, and you are highly likely to be scammed.
- Common tricks include being given a wad of worthless paper with a few genuine notes on the outside, receiving counterfeit money, or being deftly short-changed. It’s just not worth the risk.
- Even some legitimate-looking exchange offices on Váci utca might offer less competitive rates than those on nearby side streets or along the Grand Boulevard. Always compare.
The underlying theme here is that convenience often directly correlates with poorer exchange value. The easier it is (airport, hotel, a guy on the street), the more you’ll likely pay for that service, either through bad rates or outright scams. These establishments and individuals bank on travelers’ immediate needs or their lack of local knowledge.
Decoding the Deal: How to Not Get Fleeced When Changing Money – Understanding Exchange Rates and Fees
Understanding a few basic concepts about how currency exchange works can save you a lot of money and frustration. It’s not as complicated as it sounds, and once you know what to look for, you’ll feel much more confident.
- The “No Commission!” Myth: Unmasking Hidden Fees in Rates.
- You’ll see signs everywhere: “No Commission!” or “0% Commission!” Sounds great, right? Unfortunately, it’s often a marketing gimmick. While they might not charge you a separate, itemized commission fee, they usually make their money by building it into a less favorable exchange rate. The actual cost is just shifted and made less obvious.
- My advice is to be skeptical of these claims. Instead, focus on the final amount of Forint you will receive for your currency. Ironically, offices that are transparent and upfront about charging a small, clearly stated commission (by law, there’s a minimum commission of 0.3% in Hungary ) can often be more honest and offer better overall value.
- Understanding the “Spread”: The Real Cost of Your Forints.
- Every exchange office will display two rates for each currency: a “buy” rate (Vétel in Hungarian) and a “sell” rate (Eladás in Hungarian).
- If you are changing your Euros, Dollars, etc., into Forints, the office is “buying” your foreign currency and “selling” you Forints. You need to look at their “buy” rate for your currency (or, confusingly, sometimes it’s framed as their “sell” rate for HUF).
- The difference between the rate at which they buy a currency and the rate at which they sell it is called the “spread”. This spread is where they make their profit. Generally, a smaller, tighter spread is better for you. As a rule of thumb, try to find a place where the spread from the mid-market rate (see below) is less than 2%, or ideally even closer.
- Every exchange office will display two rates for each currency: a “buy” rate (Vétel in Hungarian) and a “sell” rate (Eladás in Hungarian).
- Benchmark Wisely: MNB Official Rate vs. What You’re Offered.
- The Magyar Nemzeti Bank (MNB – the Hungarian National Bank) publishes official daily exchange rates. These are often referred to as “mid-market” or “interbank” rates. You can find them on the MNB’s official website: https://www.mnb.hu/arfolyamok
- As of May 26, 2025, the MNB mid-rates were approximately: 1 EUR = 403.91 HUF and 1 USD = 354.77 HUF.
- Crucially, you will never get this exact MNB mid-rate as a tourist at an exchange bureau. There will always be a margin (the spread) added by the exchange office. However, knowing the MNB rate gives you a solid benchmark to judge how fair the offered rate is. If an office is miles off this, walk away.
- Watch Out for the “Swapped Rate” Trick.
- This is a sneaky one I’ve seen. Some less scrupulous places might display their HUF/EUR rate in a confusing, inverted way, like ‘0.00248 HUF/EUR’ instead of the more common ‘403 EUR/HUF’. This tiny decimal number can look appealingly low, but it’s designed to confuse you and often hides a much worse actual exchange rate. Always make sure you understand which currency is which in the rate display.
- Always Ask About All Fees: Before you hand over any money, explicitly ask: “What is the exchange rate for [your currency] to HUF?”, “Is there any commission?”, and “Are there any other handling fees or charges?”. Get a clear confirmation of the total Forints you will receive. Transparency is key. If they’re cagey or unclear, that’s a red flag.
Financial literacy, even these basic concepts, can make a huge difference. You’re not just exchanging money; you’re making a financial transaction, and it pays to be informed.
Beyond the Booth: Smart Alternatives for Accessing Your Cash in Budapest
Currency exchange bureaus aren’t your only option for getting Forints. ATMs and card payments are widely used and can be very convenient, provided you know how to use them smartly.
- ATMs in Budapest: Your Friend or Foe?
- ATMs (bankautomata in Hungarian) are generally a good option and are widely available throughout Budapest, especially in central areas and shopping malls.
- Bank ATMs vs. Independent Terminals: This is CRITICAL!
- My strongest advice here is to stick to ATMs that are clearly affiliated with reputable banks. Look for logos of major Hungarian or international banks like OTP Bank (the largest Hungarian bank), K&H Bank, Erste Bank, CIB Bank, Raiffeisen Bank, etc.. These are generally safer and offer more standard rates (when used correctly).
- BEWARE of Euronet ATMs! These are often blue and yellow standalone machines found in touristy spots, convenience stores, and sometimes even in hotel lobbies. I, and many other locals and savvy travellers, avoid these like the plague. They are notorious for offering very poor exchange rates and charging high service fees.
- The Dreaded DCC (Dynamic Currency Conversion): Always Say NO (Choose HUF!).
- This is probably the single most important piece of advice for using ATMs (and card machines) abroad. When you insert your card, the ATM might offer to complete the transaction in your home currency (e.g., USD, EUR, GBP) instead of HUF. This is called Dynamic Currency Conversion (DCC).
- It might seem helpful (“Oh look, I can see exactly how much it is in Dollars!”), but it’s almost always a rip-off. If you accept DCC, the ATM provider (not your bank) sets the exchange rate, and it’s typically much worse than the rate your own bank would give you.
- My Golden Rule (and it should be yours too): ALWAYS, ALWAYS choose to be charged in the local currency (HUF). Decline any offer to convert to your home currency. Let your own bank handle the conversion; you’ll get a much fairer rate.
- Potential Fees:
- Your own bank might charge a fee for international ATM withdrawals (check with them before you travel!).
- The local ATM operator might charge a fee, though this is less common with major bank ATMs if you decline DCC. As mentioned, Euronet ATMs are known for high fees; N26 notes they can charge around 920 HUF (approx. $2.59 USD ) if you don’t accept their (bad) conversion rate.
- Some services like Revolut have their own ATM withdrawal fee structures (e.g., Revolut Business charges 2% ).
- To minimize per-transaction fees from your bank, it’s often better to withdraw larger amounts less frequently rather than making lots of small withdrawals.
To help you remember these crucial ATM points, here’s a quick checklist:
Must-Have Table 2: ATM Smart Withdrawal Checklist
| Checkpoint | Action To Take | Why It Saves You Money/Hassle |
|---|---|---|
| ATM Type | Look for major bank logos (OTP, Erste, K&H, CIB, Raiffeisen, etc.). Avoid standalone blue/yellow Euronet ATMs. | Bank ATMs generally offer fairer rates and fewer hidden fees than independent ones like Euronet. |
| DCC Offer | If the ATM asks “Charge in HUF or [Your Home Currency]?”, ALWAYS choose HUF (local currency). Decline conversion to your home currency. | Avoids the ATM’s poor exchange rate and lets your bank do the conversion at a better rate. |
| Fee Notification | Check the ATM screen for any disclosed local ATM operator fees before confirming the transaction. | Allows you to cancel the transaction if the fees are unexpectedly high. |
| Withdrawal Amount | If your bank charges per-transaction fees, try to take out larger sums less often (within your comfort/security limits). | Minimizes the impact of fixed per-transaction fees from your home bank. |
- Using Your Credit/Debit Cards: When Plastic is Preferred.
- Credit and debit cards (especially Visa and Mastercard) are widely accepted in Budapest in most shops, restaurants, hotels, and even for transport tickets.
- Paying by card can often give you a very good exchange rate, usually close to the interbank rate, provided you follow the same rule as with ATMs: if the card machine offers to charge you in your home currency or HUF, ALWAYS choose HUF. Decline DCC at the point of sale.
- Before your trip, check with your card issuer about any foreign transaction fees they might charge (these can range from 0% to 3% or more of the transaction value). Knowing this helps you decide when it’s most economical to use your card.
- Modern Money: Are Travel Cards (Revolut, Wise, etc.) Worth It in Budapest?
- Services like Wise (formerly TransferWise) and Revolut are increasingly popular for travellers. They often offer very competitive exchange rates (close to the mid-market rate) and low fees for spending abroad and withdrawing cash.
- You can hold multiple currencies in one account, and they are great for budgeting.
- Do check their specific terms for ATM withdrawals. For example, Revolut Business has a 2% ATM withdrawal fee on their plan. Some personal plans might offer a certain amount of free withdrawals per month.
- For many, these are excellent tools for managing money while travelling in Budapest and beyond.
While cash is still king in some smaller establishments and markets, Budapest is adapting well to card payments. The key is to be smart about how you use your cards and ATMs to avoid unnecessary fees and poor exchange rates. The “always choose local currency” mantra is your best friend here.
My American Friend’s “Oops” Moment: A Lesson Learned in the Budapest Exchange Game
A few years ago, my American friend was heading to dinner in the touristy heart of District VII when he realized he had only about €50 left in cash—for the small post-dinner rounds at a ruin bar that prefers 1,000–1,500 HUF drinks in cash.
Instead of walking three blocks to one of the trusted pénzváltó booths I’d recommended, he ducked into the first brightly lit exchange office on the main drag. He didn’t pause to compare the board rate to the official MNB mid-rate, nor did he check the small shop next door.
He exchanged exactly €50—and while the rate wasn’t a rip-off, it wasn’t great either. A quick look afterward showed he’d missed out on about 5–7 HUF extra per euro. On €50, that amounts to about 250–350 HUF—a sum that would’ve covered a strong espresso and a snack at a nearby café!
It wasn’t a disaster, but it stung. His little slip reinforced the rule I always share: never rush currency exchange, and always stick to the trusted spots you’ve scoped out. Those three blocks or an extra minute of patience can really add up in savings—and might even pay for your next café treat.
Final Pro-Tips from Your Budapest Insider – Making Your Money Go Further
Before I let you go off to explore this amazing city, here are a few final quick tips to help your Forints go further:
- How much cash to realistically carry: For most daily needs – snacks, local transport tickets if you’re not using an app, tips, small market purchases – I’d suggest keeping around 10,000 to 25,000 HUF (that’s roughly $28 – $70 USD, based on $1 = 354.77 HUF ) in your wallet. For larger purchases like hotel bills, fancy dinners, or significant shopping, cards are widely accepted and often preferred.
- Best times/days to exchange: Generally, you’ll find more offices open and potentially slightly more competitive rates during regular business hours on weekdays (Monday to Friday). Avoid exchanging very late at night if possible, as options might be limited and rates less favorable.
- Using Google Maps for “pénzváltó”: Don’t forget this handy tool! Searching “pénzváltó” on Google Maps will show you nearby options, and you can quickly check their recent reviews and ratings. It’s something I still do if I’m in an unfamiliar part of the city.
- Always ask for and keep your receipt (bizonylat/blokka): This is essential. If there are any discrepancies or issues, your receipt is your proof of the transaction.
- Spend your coins: Before you leave Hungary, try to use up your Forint coins. They are bulky, and it’s very difficult (if not impossible) to exchange them back into your home currency once you leave the country. They make for poor souvenirs!
- Damaged banknotes: Slightly creased or worn banknotes are usually accepted without any problem. However, notes that are severely torn, have large pieces missing, or are heavily defaced might be rejected.
These are the little things that, added together, contribute to a smoother, more cost-effective trip.
Your Budapest Currency Conundrums Solved: FAQ
I get asked a lot of questions about money in Budapest, so here are answers to some of the most common ones:
- Q1: Can I pay with Euros in Budapest?
- A: While some tourist-focused establishments (hotels, some restaurants in very central areas) might accept Euros, it’s generally not recommended. You will almost always get an unfavorable exchange rate compared to paying in Hungarian Forint (HUF). For the best value, always aim to pay in HUF.
- Q2: What are the average commission fees for currency exchange in Budapest?
- A: By law, the minimum commission is 0.3%. Reputable exchange offices typically charge between 0.3% and 1.5% as a handling fee. Many also have a maximum commission cap, often ranging from around 6,000 HUF (approx. $16.91 USD) to 40,000 HUF (approx. $112.75 USD). Be very wary of signs proclaiming “No Commission!” as the cost is usually just hidden in a poorer exchange rate.
- Q3: Is it better to exchange money in my home country or in Budapest?
- A: It is almost always better to exchange your money for Forints once you arrive in Budapest. The Hungarian Forint can be considered an “exotic” currency in many countries, meaning you’ll likely get a much worse exchange rate at home. Also, avoid exchanging money at the airport when you land in Budapest if you can – rates there are typically poor.
- Q4: What are the typical exchange rates for EUR/USD to HUF that I should expect?
- A: Exchange rates fluctuate constantly. Your best bet is to first check the official Hungarian National Bank (MNB) mid-market rate online (you can find it at https://www.mnb.hu/arfolyamok as your benchmark. As of late May 2025, 1 EUR was around 403.91 HUF and 1 USD was around 354.77 HUF according to the MNB. At a good exchange bureau, you should expect to get a rate that’s slightly less favorable than this (e.g., for EUR, a buy rate of 400-403 HUF and a sell rate of 405-408 HUF was common at reputable places). The difference between the MNB rate and what you’re offered, and between the buy/sell rates at the bureau, is where they make their profit (the “spread”).
- Q5: What should I do if I encounter a problem or feel I’ve been scammed at a currency exchange?
- A: If you believe it’s a genuine misunderstanding, try to resolve it calmly with the staff. Ask them to clearly explain the rates and any fees applied. If you strongly suspect a scam (e.g., you were deliberately short-changed, or the rate applied is significantly worse than what was advertised or agreed upon), and you cannot resolve it on the spot, it’s important to have your receipt. You can report serious issues to the Hungarian National Bank (MNB) or the local tourist police, though hopefully, by following the advice in this guide, you’ll avoid such situations entirely.
- Q6: How much Forint cash should I carry daily in Budapest?
- A: For most tourists, carrying around 10,000 to 25,000 HUF (which is approximately $28 – $70 USD, using an exchange rate of $1 = 354.77 HUF ) should be sufficient for daily incidentals like public transport tickets (if not using a travel pass or app), snacks from street vendors, small souvenirs from markets, and tips. Credit and debit cards are widely accepted for larger payments like restaurant meals, hotel bills, and bigger shopping items.
Conclusion: Exchange Smart, Explore More – Enjoy Your Budapest Adventure!
And there you have it – my insider’s guide to navigating currency exchange in Budapest! It might seem like a lot to take in, but the main takeaway is simple: a little bit of awareness and planning can save you a surprising amount of money and a whole lot of potential stress. When you get a fair deal on your Forints, you’re not just saving cash; you’re gaining peace of mind, allowing you to fully immerse yourself in the incredible experiences this city has to offer – from its stunning architecture and healing thermal baths to its vibrant ruin bars and rich history.
So, go forth, exchange wisely, and spend those hard-earned Forints on creating unforgettable memories in beautiful Budapest. I hope these tips help you feel more confident and prepared for your financial adventures here.
Érezd jól magad Budapesten! (Have a great time in Budapest!)
I’d love to hear your own experiences or any other tips you’ve discovered – feel free to share them in the comments below!
