Tag Archive for: money

Hungarian Money Guide – How to pay in Budapest?

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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.”

7 Tips if You Visit Budapest on a Budget

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Budapest is a beautiful and vibrant city with plenty of breathtaking architecture, great food, and leisure activities to explore. But what if you want to discover Budapest on a budget? We have got good news for you because it is a relatively cheap city still to this day, and we share with you seven more tips below, on how to save even more on your vacation. 

Here are the seven best ways to enjoy Budapest on a budget!

 

1)FREE TOURS IN BUDAPEST: 

Let’s get over with the advertisement right at the beginning! Yes, if you want to learn about Hungarian food, history, architecture and even the language from a local, we are definitely your cheapest option. It is worth joining our General Tour on your first day and it will kickstart your holiday with honest recommendations about where to eat, drink and what is a must-see in the town. If you want to learn about a specific historical era or topic, maybe you want to check out some hidden gems it is worth looking around in our mathematical tours section. Every tour is tip-based, which means you can decide how much would you like to give up to your liking and up to your budget. In practice your guide will entertain you for 2 hours and at the end of the tour you’ll get a clear itinerary for your stay, so he deserves a tip big enough for a lunch or at least 2 beers 🙂 It means 10-15 €, which is still cheaper than any of the organized walking or bus tour prices. 

2) USE PUBLIC TRANSPORTATION:

Budapest has an efficient and affordable public transportation system. That is one thing all the locals are very proud of. It is your second fastest way to get around the town, behind a bicycle, and it is absolutely safe to use. The biggest advantage of our public transportation, that there are tramlines alongside the Danube on both sides, so you can skip the sightseeing cruises, and take the tram nr 2 and/or nr 19 and see all the most important sights lit up during the night.  Consider getting a Budapest 24-hour group travel card: 

It can be used for up to 5 passengers traveling together for 24 hours for an unlimited number of trips. Price: 5000HUF

 

3) EAT AT LOCAL MARKETS

The Hungarian cuisine is the greatest option is somebody traveling to Budapest on a budget. It is very heavy, very tasty and cheap, that is the perfect option if you want to save some money while you are having fun. We don’t really have a local street food culture, but the markets were always the centers of any kind of Hungarian street food. Those are also the cheapest places to eat.

Google HUNYADI TERI MARKET to taste some of the different types of sausages sold by farmers, langosh,  fresh vegetables or liver paté.

Alternatively, look for “ÉTKEZDE”  or “KIFŐZDE” while walking in the downtown. Both are excellent options for trying authentic Hungarian dishes at affordable prices. The menu features stews, soups, and vegetable dishes from Monday to Friday during the lunch hours.

 

4) PICNIC IN THE PARKS: 

Budapest has beautiful parks, such as Margaret Island and City Park, where you can have a picnic and relax without spending much.  Consider packing sandwiches, fresh fruits, and some refreshing beverages or Hungarian wine. If you aren’t afraid of a little hiking it is worth checking out the Buda Hills, because they offer beautiful views while you enjoy your food or beverage. On the Gellért Hill for example you can run into many parks and hidden view balcons looking at the Danube bank. Don’t forget to bring a picnic blanket or a comfortable mat to sit on. Please stay environmentally friendly while picnicking. 

 

5) VISIT LUKACS THERMAL BATHS

Lukács Baths provides a more intimate and serene environment, than the other major thermal baths in Budapest, allowing visitors to unwind and enjoy their bathing experience without feeling overwhelmed by large crowds.The Lukács Baths are fed by natural thermal springs rich in minerals, known for their potential health benefits. Hungarians believe in the healing properties of these mineral-rich waters, which can help with various ailments, such as joint and muscle pain, skin conditions, and respiratory issues.

Ticket price: 4400 HUF only.

 

6) ATTEND FREE EVENTS:

Keep an eye out for free concerts, festivals, and events happening during your visit. Budapest. The lower embankment between the Margaret Bridge and Elizabeth Bridge is a pedestrians and cyclists-only zone over each summer weekend.  As soon as the weather allows it every public area turns into a free concert venue in Budapest!

 

7) DRINK TAP WATER

In Budapest, tap water is safe to drink and of excellent quality. Save on buying bottled water by refilling your reusable water bottle throughout the day. Hydration is important especially if you visit the town during Summer it can be extremely hot, so don’t forget to drink enough water!

 

Remember that experiencing a city like Budapest doesn’t always require a lot of money. With careful planning and a willingness to explore local and budget-friendly options, you can have a memorable and enjoyable visit without breaking the bank. 

 

Have a fantastic time in Budapest!