Charges when using a Euro country debit card in Budapest
For a business trip, I would like to know about using a debit card from a Euro currency country (Greece) in Budapest (Forint currency). I will have to provide receipts to the company from purchases to get the money back.
I am wondering if any extra charges occur from using my Greek debit card (conversion,etc ) will show up in the receipts or not?
Example: To purchase something that costs 100 forints what happens when I pay with the debit card of my own country? Will the extra conversion charges appear in the receipt or only the initial price of the item?
Best Answer
If you use your credit card abroad, the amount will be exchanged from Euros. The exchange rate is set by the network (Visa/Mastercard) and will be more or less equal to the „official“ rate (interbank exchange rate).
Your bank can charge fees on top of that, both per-transaction one-time fees or a percentage. There are also some cards that have no fees at all. My bank charges 1,5%, for example.
The fee will not be on the merchant receipt, as it is charged by the bank. The merchant receipt will be in Forint, and your credit card statement will show the amount in Forint and the converted Euro amount. At least for me the fee is a separate item on the credit card statement; but it is clear that it is for the same merchant.
Some merchants also offer to „pay in Euro“. This is more or less a thinly veiled scam, as the exchange rate can be something like 5% (or more) worse than the interbank rate. Meaning that the „free“ service has a 5% fee. If you use this „service“ you get a merchant receipt that shows the Forint amount and some information about the conversion. Your credit card statement will just show the charge as Euros.
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Can I use my debit card in Budapest?
To enjoy all that Hungary offers, you will need a combination of cash and credit cards while travelling. Plastic is accepted throughout Budapest, the Lake Balaton region and other popular tourist hotspots. Although credit and debit cards are widely accepted, some smaller towns and establishments accept cash only.Will my debit card work in Hungary?
Can I use my credit and debit cards in Hungary? Visa and MasterCard are the most widely accepted credit cards in Hungary. Small businesses may not accept credit cards, or may have a minimum purchase requirement. It's always smart to carry some cash on you, but don't carry more than you plan to use that day.Do you get charged for buying Euros on debit card?
Not only does it not charge you for buying foreign currency in the UK, it won't charge extra for cash withdrawals or purchases overseas either.Can I pay with Euro in Budapest?
Hungary's official currency is Hungarian Forint (HUF). Many stores and other places accept Euro* as well. However, the exchange rates at such places often don't follow the most up-to-date bank rates, and this is not in favor of the customers.DOS AND DON'TS OF CHANGING MONEY IN BUDAPEST -- True Guide Budapest
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Images: Anete Lusina, Ivan Samkov, Anete Lusina, Anete Lusina