Where to exchange money in Budapest?

by | 24 Feb, 2020 | Guides | 0 comments

What you need to know

The national currency in Hungary is the Hungarian Forint. One Euro equals about 330 HUF.

The Forint is expected to decrease further in value, continuing the downward trend in recent years.

The average exchange office charges a fixed and a variable fee. Only the variable fee (which is included in the exchange rate) is visible upfront!

If you can wait, then it's best to exchange money in the city center, ideally in non-frequented or less touristic places.

Every exchange office has to pay tax (0.3%), which means they will include this in the exchange rate. When they advertise "No commissions", then they will mostly charge a higher fixed fee.

The best is: Gold Change (Address: Budapest, Erzsébet krt. 8, 1073)

Another good place: Correct Change (Address: Budapest, Erzsébet körút 41, 1073)

"Exclusive Change" is a company that has many branches across the city.

Top choice

Best tips & tricks

Count the money you receive from the exchange office. Sometimes they make "mistakes" or exchange incorrectly.

Ask upfront if there is a fixed fee and if so how much. These fees are not advertised upfront can vary significantly.

Exchanging money in shopping centers is on average more expensive than in a separate exchange offices.

Always ask and keep your receipt in case you encounter problems later on.

If possible, do NOT exchange money in the airport. They are expensive and have unfavorable exchange fees.

Never buy money from someone on the streets. This is illegal and mostly involves fake money.

Be wary of exchange offices that advertise exchange rates at market price. Mostly they have high fixed fees.

Do not exchnage coins. Most exchange offices exchange coins at a more expensive rate than bank notes.

What NOT to do

Veronika Samu

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