Hungarian Forint is the official currency used in Hungary, a country strategically located at the center of Europe. Its capital Budapest is fast becoming one of the most popular cities to visit. Tourist attractions include the 125 thermal springs, the bank of river Danube, etc. With all these attractions comes the need for money and because of this need, many exchange offices are littered around the city, even banks and hotels aren’t left out too. Before you start looking for the best places to exchange your money in Budapest, here are worthwhile tips you need to know.
Things to know before exchanging money
- Actual exchange rate: The mid-market rate is the exchange rate that is found on Google. By knowing the actual rate, you can easily compare two money exchange offices before making a decision.
- Rate fluctuates: Exchange rates vary, fluctuate and is determined by factors such as interest rate, economic decisions, and economic growth. So before traveling to Budapest, try to keep abreast with the happenings there. Also, it doesn’t hurt to know the actual rate of your currency when converted to Forint or Forint to your currency before setting out
- Airport, banks, train stations and hotels are not an option: While these places may seem safe, they are not in any way friendly to your pocket. They offer exorbitant rates than what you will get in the open market a block or two away.
- Ask questions: you are allowed to ask loads of questions. Don’t shy away from asking about their rate, how their commission is calculated. It can never hurt even if you ask for a receipt or not, but what may hurt in the long run is giving them your money without knowing a thing or two about how their rate is calculated.
- No commission: As you go around looking for a reputable exchange office, try and flee from all that advertises ‘no commission’. This is because their commission is hidden in the actual charge, while the ones that charge for commission upfront collect what they advertise.
5 best places to exchange money in Budapest
1. Exclusive change
Terez krt. 21, 1067, Hungary
+36 70 457 7572
Service hours: 8:00-10:00pm
With over 90 offices scattered round Hungary, Exclusive exchange office stands out as one of the most trusted places to exchange money in Budapest. They recently introduced a preorder service whereby you can book and arrange what you want before visiting any of their branches for collection.
2. Ibla change Penzvalto
Bajcsy-Zsilinszky ut 5, 1065, Hungary
+36 1 217 9564
Service hours: 8:00-8:00 pm
This is one of the best places to exchange your currency in the city. They have staffs around the city who offer fast and good service. As always, be attentive at every exchange offices you enter
3. Omika currency exchange
Bartok Belau t, 16, 1111, Hungary
+36 70 434 3005
Service hours: 9:00-6:00 pm
An excellent exchange office in Budapest with a great rate and no hidden charge is hard to find in a city littered with exchange offices. This is where Omika soars. Not only are their services superb, they literally make you feel at home.
4. Joker valuta valto
Bajcsy-Zsilinszky ut 65, 1065, Hungary
+36 1 708 1910
Service hours: 9:00-6:00 pm
Founded since 1993, Joker has distinguished itself as one sure place that offers currency exchange services in Budapest. In addition to exchanging notes, they also accept euro coin and damaged notes though at a reduced rate.
5. Correct change
Szent Istvan krt. 23, 1055, Hungary
+36 1 302 3863
Service hours: 9:00-6:00 pm
Customer satisfaction has always been the pillar of this exchange office located in the heart of Budapest. Their rate is also incomparable with others in the city and they are always ready to answer any question with regard to rates and commission.
Concluding words
If you decide to change money in Budapest or anywhere, be sure to check the rate they buy and sell and then compare with other places and mid-market rate. Make sure to count your money before leaving the office, no one is going to gorge you alive. It is your right to know, which you shouldn’t ignore.
