Before visiting Hungary, it’s helpful to know a little about our currency, and how it works, that is why we made this Hungarian money guide for you, so you can find every useful information about paying in Budapest. Most importantly we have our own currency:

The official currency of Hungary is the Hungarian Forint (HUF). Take a look at this guide to the Hungarian Forint from using cash machines to cash payment.

Banknotes come in denominations of 500, 1000, 2000, 5000, 10,000 and 20,000. All of them are watermarked, contain an embedded vertical security strip of thin metal, and are designed to be suitable for visually impaired individuals. Six different coins are in use: 5, 10, 20, 50, 100, and 200 forint coins.

Currency Exchange for Travelers in Budapest

You can exchange your currency in Budapest at banks, currency exchange offices, and some hotels. We recommend changing up to 20€ at the airport upon arrival, as the exchange rate is far from being the best there. Additionally, we advise avoiding Orange ‘InterChange’ currency exchange businesses located everywhere in Budapest, as they offer the worst rates compared to other establishments. Our recommended exchange office chain is the Correct Change, they have plenty of offices in the city center and surprisingly they are really correct!

Navigating Cash and Card Payments in Hungary

In the vibrant streets of Budapest, managing your finances efficiently is crucial for a seamless travel experience. While Hungary is increasingly card-friendly, having a mix of cash and card can be a savvy choice. Here’s a breakdown to help you strike the right balance:

The Card Advantage

Hungary, especially Budapest, has embraced card payments, with the majority of establishments accepting cards, even in smaller shops and bars. Using your card for most transactions is convenient and widely accepted. However, it’s essential to be mindful of potential fees from your bank. Some banks charge fees for international card usage, so it’s advisable to check with your bank and weigh the costs. Using your card also ensures a favorable exchange rate compared to withdrawing cash. 

Cash Reserves for Added Convenience

While card usage covers the majority of your expenses, having a small cash reserve (about 1/3 of your total budget) is recommended. This can be particularly handy for tipping our Free Budapest Tour guides, market hall purchases, public toilets, or in the rare instance where card payments might not be accepted Locals often emphasize paying in Hungarian Forints (HUF) rather than Euros, as the latter may incur less favorable exchange rates. Keeping around 20,000 HUF (approximately 50 Euros) in cash can provide a safety net for those few instances where cards may not suffice.

 

ATMs: Choose Wisely

When withdrawing cash, opt for ATMs located inside or next to bank branches, avoiding those branded as ‘Euronet.’ This precaution ensures a more secure transaction and minimizes the risk of unfavorable exchange rates.

Always choose to withdraw Forints from established banks like Raiffeisenbank, K&H, ERSTE or OTP for better rates. Keep in mind that using ATMs, while convenient, might incur fees depending on your bank back home.

 

Paying in Hungarian money (HUF) Matters:

Whether it’s for dinner, a glass of champagne at the State Opera House or a local market find, paying in Hungarian Forints is advised. It not only aligns with the local preference but also safeguards you from potential rip-offs associated with using foreign currencies.

 

Fun facts about Hungarian money: 

Why is Hungarian money called Forint?

The name forint finds its origin in the city of Florence, where gold coins minted since 1252 were called fiorino d’oro.In Hungary, the gold-based currency Florentinus was used from 1325 under the reign of Charles Robert; after that, several other countries followed this example.

 

Why Hungary Does Not Have the Euro as a Currency?

While Hungary is a member of the European Union (EU), it has not adopted the euro as its official currency. The country has its own central bank, the Hungarian National Bank (Magyar Nemzeti Bank), which maintains control over its monetary policy, including issuing the Hungarian Forint. The decision to join the Eurozone involves various economic and political considerations and much more. To delve into the details, join our daily FREE BUDAPEST TOURS and FREE COMMUNISM TOURS and learn about the current political situation from your local tour guides.”