How widely accepted are Euros in Hungary and how bad is the exchange rate practiced by shops/hotels?
The official currency of Hungary is the Forint but so far everything I have looked for prices online, such as trains, buses and taxis, are quoted in Euros and Forints. Hotel reservation asked that I pay in Euros at the hotel. Considering that I will only spend a few days in Budapest, are Forints necessary? Or can I pay for transport, admissions and food in Euros? In such a case, how is the conversion rate set?
Best Answer
I did not visit Budapest, but spent some time in Hungary last year. My experience was that even if a few shops accept euros (especially larger shops in areas with many tourists), they tend to give you very unfavourable exchange rates.
When hotels annouced their prices in forint and euro, in some cases, it even appeared to be two completely different prices. One of the hotels I staid in offered a single room for 25€ or 5,500Ft a night. The price in forint is about 30% below the price in euro. As a foreigner, most hotels first gave me the price in euro and when I asked to pay in forint, without problems they offered me the lower price in local currency.
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Are euros widely accepted in Hungary?
Can I use Euros in Hungary? Euro is widely accepted in Hungary, especially in Budapest. However, the rate is terrible and sometimes you will pay almost the double price when paying with Euros in Hungary, so it's best to avoid if it's not an emergency. It's much better to pay in the local currency \u2013 Hungarian Forint.Is it better to buy Hungarian currency in Hungary?
Even Hungary is part of the European Union, you pay there with Forint, the Hungarian currency. However, many shops and restaurants in Budapest accept payments in cash or by credit card in Euros but applied rates are unfavorable. Therefore we recommend you to pay in Forint, in cash or by credit card.What is the best currency to use in Hungary?
The best currency to take to Hungary is Euro. Dollars are also accepted in the grocery stores, hotels, restaurants, and malls around the Budapest city center. Keep in mind that if you pay in foreign currency to any shop in Budapest, in return you will get HUF and not in foreign currency.Is it better to exchange money in Budapest?
Major shops such as Spar, H&M, and some international shops in the shopping areas of Budapest do accept Euro and will usually say it on their door or by the checkout counter, but make sure to check their rate before spending your Euro. Usually, it is better to exchange your Euro at an official exchange shop.DOS AND DON'TS OF CHANGING MONEY IN BUDAPEST -- True Guide Budapest
More answers regarding how widely accepted are Euros in Hungary and how bad is the exchange rate practiced by shops/hotels?
Answer 2
Many large shops accept EUR in Hungary, but they offer a terrible exchange rate. You're better off if you do currency exchange in one of the dedicated booths or offices. Most small shops don't accept EUR. Depending on your home bank and your debit (not credit!) card, withdrawing HUF from an ATM can give you a good rate. Please make sure that your home bank does the currency conversion.
Answer 3
It is usually preferred to pay with Forints in Hungary, as even in cases where the stores accept Euros they will do it with a sub-par exchange rates, and also give the change back in Forints anyway. Most high street exchange booths (especially in tourist areas - airports and train stations) will also operate with very high margins, so you should avoid them too.
On the other hand there are a few, which operate with very low margin exchange rates, meaning you could potentially get much better rates than what you would get from your bank (the linked one for example has much better rates than most UK banks offer you). If you want to get the most from your Euros you should defintiely check before travel whether it's more worth it to use your debit / credit card, or to use one of the exchange offices that operate with low margins.
Answer 4
Assuming that you want to hit up only major tourist destinations, it's likely that you could get by with only your credit card and a few thousand HuF. But if you want to go to any truly local bars, restaurants, shops, etc., you'll want a decent amount of HuF, especially outside of Budapest.
Answer 5
I've just spend 4 days in Budapest in December 2018. I have an N26 credit card which I used:
- Public transportation ticket
- In restaurents,
- In Széchenyi thermal bath,
- In 3D museum,
- dm (groceries - forgot shampoo), Aldi, Lidl
- small Christmas booths
It worked flawlessly. Some of the restaurants printed a Forint reference price, but it was always way higher than what N26 charged me.
There were three occasions where I needed cash:
- Two super small christmas booths - I simply took others then
- A "pirate candy" shop
- The luggage safe at the central station
For the last one, I used Gyorspénzváltó Kft.. It's a small shop with WAY better exchange rates than the ATMs / the exchange shop on the other side.
Answer 6
Basically, EURO IS NOT ACCEPTED IN HUNGARY.
-Only SOME larger, tourist-oriented hotels and restaurants accepting euro in favour of tourists, but generally, euro is NOWHERE accepted in hungary. The real economy will usually not accept euro (or any other currency).
-If you find something that accepts euro, the price will be 50-150% higher than the price in forint.
-Your foreginer credit card will be immediately vomited out by any of the generic ATM machines, or the machine will confiscate your card, displaying a phone number that you must call, if you want it back... You really do not want this.
-HUNGARIANS ARE NOT USING BANKING CARDS TO BUY/SELL THINGS IN THEIR ORDINARY LIFE. DO NOT EVEN TRY TO BUY THINGS WITH YOUR CREDIT CARD IN HUNGARY! ONLY FORINT CASH IS ACCEPTED! FORGET A CREDIT CARD, ITS USELESS!
-In short, yes, you need Forint in your hand, there is no other way to pay for things in hungary.
source: hungarian
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