Where to exchange money in Budapest?

by | 24 Feb, 2020 | Guides | 0 comments

What you need to know

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

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

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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!

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

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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.

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

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

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

Top choice

Best tips & tricks

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

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

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

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

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

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

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

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

What NOT to do

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