Welcome, Savvy Traveller!
Your insider guide to smart currency exchange in Budapest. Navigate the Forint like a local and make your money go further.
"Szia! As a long-time resident, I'm here to share my hard-earned wisdom with you."
Understanding HUF
Get to know Hungarian Forint banknotes, coins, and authenticity checks.
My Trusted Spots
Discover where this local exchanges currency for the best rates.
Tourist Traps to Avoid
Learn which places and situations to steer clear of.
Decoding the Deal
Understand exchange rates, fees, and the "no commission" myth.
ATMs & Cards
Smart ways to use ATMs and credit/debit cards in Budapest.
FAQ & Pro-Tips
Your burning questions answered and final insider tips.
A Key Takeaway:
Having some Hungarian Forints (HUF) in your pocket is essential for treats at the Great Market Hall, local *kávézók*, tipping, and small shops. While cards are widely accepted, cash is king for smaller, authentic experiences!
The Local Lowdown: Understanding Hungarian Forint (HUF)
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.
Banknotes:
- 500 Ft
- 1,000 Ft
- 2,000 Ft
- 5,000 Ft
- 10,000 Ft
- 20,000 Ft
Coins:
- 5 Ft
- 10 Ft
- 20 Ft
- 50 Ft
- 100 Ft
- 200 Ft (bimetallic and quite distinctive)
Authenticity Check:
While counterfeiting isn't a massive issue, it's 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.
Important Note:
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.
My Trusted Spots: Where This Budapest Local *Actually* Exchanges Currency
Not all currency exchange bureaus – or *pénzváltó* – are created equal. Head towards the Grand Boulevard (Nagykörút - Tram 4/6 lines) where competition keeps rates keen. Also, check Google Maps for "pénzváltó" and look for ratings above 4.0, especially 4.5+.
Disclaimer: Exchange rates and commissions mentioned are based on data from around May 2025 and can change. USD equivalents for HUF commission caps are based on an MNB rate of 1 USD = 354.77 HUF from May 26, 2025. Always verify current terms in person!
Detailed Spotlights on Recommended Bureaus:
Correct Change
Why: Well-known network, competitive rates, straightforward. Intermediary for MBH Bank Nyrt.
Locations: Many, e.g., József krt. 40, Erzsébet krt. 41, Szent István krt. 23, Bartók Béla út 53.
Commission: Usually 0.9% handling fee (max 34,900 HUF ≈ $98.37 USD). *Can differ by office.* Unique rates for >400,000 HUF.
Sample Rates (József krt. 40, May 2025): EUR Buy 400.5 / Sell 404.5; USD Buy 352.5 / Sell 359.8
Northline Exchange
Why: Around since 1996, trustworthy, good locations in shopping centres (Westend, MOM Park) and key points (Oktogon tér 1, Kígyó utca 2, Vámház körút 2).
Commission & Rates: Inquire at branch or check website, as details vary.
Arany Change
Why: Consistently good Google reviews (4.7+), clear commission, central (Erzsébet krt. 5). Intermediary for MBH Bank Nyrt.
Commission: 1% (max 40,000 HUF ≈ $112.75 USD). *No card payments for exchange.*
Sample Rates (May 2025): EUR Buy 400 / Sell 408; USD Buy 352 / Sell 362
Hanifa Change (OrigoChange)
Why: Decent rates, clear tiered commission (Nádor utca 34). Good for obscure currencies.
Commission (Tiered): 1-3% (max 40,000 HUF ≈ $112.75 USD). E.g., 1.2% for 50k-100k HUF, 1% for >100k HUF.
Sample Rates (May 2025): EUR Buy 402 / Sell 407; USD Buy 353 / Sell 360
Euro Change
Why: Excellent Google rating (4.8), clear commission, open weekends (Ferenc körút 33). Agent for MagNet Bank.
Commission: 0.91% (max 41,000 HUF ≈ $115.56 USD). Different rates for <1M HUF. *No card payments.*
Sample Rates (>1M HUF, May 2025): EUR Buy 403.5 / Sell 406; USD Buy 354 / Sell 359
Expert Change
Why: Multiple central locations (Teréz krt. 21 - Oktogon), good ratings. Intermediary of MBH Bank Nyrt.
Commission: 2% (max 40,000 HUF ≈ $112.75 USD).
Rates: Check in person/phone as they change frequently.
Omika Currency Exchange
Why: Good Google rating (4.7), potentially very low commission (Bartók Béla út 16).
Commission: *Verify!* Was 0.3% (max 6,000 HUF ≈ $16.91 USD) in 2020. If still valid, it's excellent.
Rates: Website info outdated; check in person.
Quick Comparison Table:
| Name | Avg. Google Rating | Typical Commission (HUF & approx. USD) | Insider Tip |
|---|---|---|---|
| Correct Change | 4.7+ (varies) | 0.9%, max 34,900 HUF (~$98.37). *Can differ.* | Reliable, widespread, good for >400k HUF. |
| Northline Exchange | Check branches | Inquire at branch. | Long-standing, trustworthy, mall locations. |
| Arany Change | 4.7 | 1%, max 40,000 HUF (~$112.75). *No cards.* | Good rating, clear commission, central, open daily. |
| Hanifa (OrigoChange) | 4.4 | Tiered: 1-3%, max 40,000 HUF (~$112.75). | Clear tiered fees, good for less common currencies. |
| Euro Change | 4.8 | 0.91%, max 41,000 HUF (~$115.56). *No cards.* | Excellent rating, open weekends, clear fees. |
| Expert Change | 4.7 | 2%, max 40,000 HUF (~$112.75). | Multiple central spots, good ratings, long hours. |
| Omika Exchange | 4.7 | *Verify!* Was 0.3%, max 6,000 HUF (~$16.91) in 2020. | Potentially very low commission if still valid. |
Note: Click on names for official websites. Map links are placeholders in this example.
Tourist Traps: Places I Wouldn't Touch with a Ten-Foot Forint Stick
Being aware of "no-go" zones is just as important as knowing the good ones. It's all about proactive risk mitigation.
-
Airport & Train Station Exchanges
Rates are notoriously poor (potentially up to 15% worse). If you must, change only a very small amount for immediate transport. Better: use a card or find a bank ATM upon arrival.
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Hotel Currency Desks
Convenient, but you'll almost certainly pay a premium. Give it a miss unless it's an absolute emergency.
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Váci Street & Street "Hawkers"
Never exchange money with individuals on the street. It’s illegal and highly likely to be a scam (worthless paper, counterfeit money, short-changed). Even some legitimate-looking offices *on* Váci utca might offer less competitive rates. Always compare.
Underlying theme: Convenience often correlates with poorer exchange value.
Decoding the Deal: How to Not Get Fleeced
Understanding a few basic concepts can save you money and frustration.
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The "No Commission!" Myth
Often a marketing gimmick. They might build the cost into a less favorable exchange rate. Focus on the final amount of Forint you'll receive. Offices transparent about a small, stated commission (min. 0.3% by law) can be more honest.
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Understanding the "Spread"
Exchange offices display "buy" (Vétel) and "sell" (Eladás) rates. The difference is the spread (their profit). A smaller, tighter spread is better. Aim for a spread from the mid-market rate of less than 2%.
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Benchmark Wisely: MNB Official Rate
The Magyar Nemzeti Bank (MNB) publishes official daily mid-market rates (MNB Official Rates). As of May 26, 2025: 1 EUR ≈ 403.91 HUF; 1 USD ≈ 354.77 HUF. You'll never get this exact rate, but it's a benchmark. If an office is miles off, walk away.
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Watch Out for the "Swapped Rate" Trick
Some places might display rates confusingly (e.g., '0.00248 HUF/EUR') to hide a worse actual rate. Ensure you understand the currency pairing.
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Always Ask About All Fees
Before handing over money, ask: "What is the exchange rate?", "Is there any commission?", "Any other fees?". Get clear confirmation of the total Forints you'll receive. Transparency is key.
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.
Beyond the Booth: ATMs & Cards
ATMs and card payments are convenient, if used smartly.
ATMs in Budapest: Friend or Foe?
- Bank ATMs vs. Independent Terminals: Stick to ATMs affiliated with reputable banks (OTP, K&H, Erste, CIB, Raiffeisen). BEWARE of Euronet ATMs (often blue/yellow standalone machines) – notorious for poor rates and high fees.
- The Dreaded DCC (Dynamic Currency Conversion): If an ATM offers to charge in your home currency OR HUF, ALWAYS choose HUF (local currency). Accepting DCC means the ATM provider sets a typically worse exchange rate.
- Potential Fees: Your bank might charge for international withdrawals. The local ATM operator might charge (less common with bank ATMs if you decline DCC). Euronet is known for high fees. Withdraw larger amounts less frequently to minimize per-transaction fees from your bank.
ATM Smart Withdrawal Checklist:
| Checkpoint | Action To Take | Why It Saves You Money/Hassle |
|---|---|---|
| ATM Type | Look for major bank logos. Avoid Euronet ATMs. | Bank ATMs generally offer fairer rates and fewer hidden fees. |
| DCC Offer | If asked "Charge in HUF or [Your Home Currency]?", ALWAYS choose HUF. | Avoids the ATM's poor exchange rate. |
| Fee Notification | Check screen for local ATM operator fees *before* confirming. | Allows you to cancel if fees are unexpectedly high. |
| Withdrawal Amount | If your bank charges per-transaction fees, take out larger sums less often. | Minimizes impact of fixed fees from your home bank. |
Using Your Credit/Debit Cards
Widely accepted (Visa, Mastercard). Can offer good exchange rates if you ALWAYS choose to pay in HUF when the machine asks. Check your card's foreign transaction fees.
Modern Money: Travel Cards (Revolut, Wise, etc.)
Often offer competitive rates and low fees. Good for budgeting. Check their specific ATM withdrawal terms.
Final Pro-Tips from Your Budapest Insider
- How much cash to realistically carry: Around 10,000 to 25,000 HUF (approx. $28 - $70 USD) for daily needs. Use cards for larger purchases.
- Best times/days to exchange: Regular business hours on weekdays (Mon-Fri) for more options and potentially better rates.
- Using Google Maps for "pénzváltó": A handy tool to find nearby options and check recent reviews.
- Always ask for and keep your receipt (bizonylat/blokka): Essential proof of transaction.
- Spend your coins: Try to use up Forint coins before leaving Hungary; they're hard to exchange back.
- Damaged banknotes: Slightly worn notes are usually fine. Severely torn or defaced ones might be rejected.
Your Budapest Currency Conundrums Solved: FAQ
Q1: Can I pay with Euros in Budapest?
A: Some tourist spots might accept Euros, but it's **not recommended**. You'll almost always get an unfavorable rate. Pay in HUF.
Q2: What are average commission fees?
A: Min. 0.3% by law. Reputable offices: 0.3%-1.5%. Max caps often 6,000-40,000 HUF. Beware "No Commission!" signs (cost hidden in rate).
Q3: Exchange at home or in Budapest?
A: Almost always **better to exchange in Budapest**. Avoid airport exchanges upon arrival.
Q4: Typical EUR/USD to HUF rates?
A: Check MNB mid-market rate (www.mnb.hu/arfolyamok). As of May 2025: 1 EUR ≈ 403.91 HUF; 1 USD ≈ 354.77 HUF. Expect slightly less favorable rates at bureaus.
Q5: What if I feel scammed?
A: Calmly try to resolve with staff. Keep your receipt. Report serious issues to MNB or tourist police.
Q6: How much Forint cash daily?
A: 10,000-25,000 HUF (approx. $28-$70 USD) for incidentals. Use cards for larger payments.