Best 6 places to exchange money in Budapest
Where and how: best places and tips to buy HUF in Budapest
- travel tips
- April 22, 2024
If you’re going to buy or sell currency in Budapest, this article is for you. Find here the best 6 places where to exchange money in Budapest, as well as the best tips for when you buy Hungarian forints, so that you get the best deal possible.
Best 6 places to exchange money in Budapest
Here’s our list of the best exchange offices in Budapest – don’t forget to compare their current exchange rates on their websites:
1. Exclusive Change
Website: https://exclusive.hu
Many locations in the city: here
Contact: +36 70 457 7572
About the company: one of the biggest local exchange bureaus, Exclusive Change has many stores in Budapest. They also let you book pre-orders online, and you can send money. They’re partners with Raiffeisen Bank.
2. Omika currency exchange
Website: http://omika-change.atw.hu
Address: Bartók Béla út 16.
Contact: +36 1 797-26-94 //+36 70 43-43-005 // +36 30 539-32-78
3. Correct change
Website: https://correctchange.hu
Address: Erzsébet krt. 41, 1073; József krt. 40, 1085;, Szent István krt. 23, 1055.
Contact: +36 70 451-9500 // [email protected]
About the company: founded in 1954, Ciklámen Tourist Zrt. established Correct Change, a nationwide network in Hungary, acting as an intermediary of MBH Bank Nyrt. They might offer better exchange rates for larger transactions.
4. Ibla change Penzvalto
Website: http://iblachange.hu
Address: Bajcsy-Zsilinszky út 5, 1065
Contact: +36 1 317 9564
About the company: intermediary of MBH Bank Nyrt. You’ll have to pay in cash, as they don’t take card.
5. Expert Change
Website: https://expertchange.hu
Address: Teréz körút 21, 1067; Teréz körút 56, 1066; Szent István körút 12, 1137.
Contact: +36 30 966 9813 // +36 1 604 8020 // +36 1 708 1660 // +3612614286
About the company: They also operate as an intermediary of MBH Bank Nyrt.
6. Prima Change
Website: https://primachange.hu
Address: Budapest, Múzeum krt. 07, 1053
Contacts: +36 30 777 9686 // +36 30 601 6640 // +36 1 258 6155 // +36 1 612 9378
About the company: This currency exchange bureau operates on behalf of a reputed bank in Hungary – MagNet Magyar Közészégi Bank Zrt.
Best tips to exchange money in Budapest
You might think that exchanging money in Budapest, like in many other European cities, is a quite simple process. And indeed it can be. But if you’re not careful, you might be losing a lot of money without even realising. Here’s some tips to help you with that:
- Don’t fall in the “no comission” trap. Even if they advertise that there’s no fee, that’s simply not true: you’ll be paying a hidden fee within the exchange rate
- Always compare the rate they’re advertising with the one on Google (for example, type in “USD to HUF”). That’s a good way to know how much you’re paying to buy Hungarian Forints
- Avoid airports, banks, train stations, hotels and other commercial estblishments to exchange your money. Even if the fee doesn’t seem high, you’ll get a bad exchange rate, and end up getting way less money
- When buy Hungarian currency, don’t be shy – ask questions: how they calculate their exchange rate, how much is the mid-market rate, how much in total fees you’re really paying, etc. And ask for an invoice too.
- If possible, convert your money throughout a long period of time. Exchange rates fluctuate, and you can mitigatge the risk of “losing” money by planning your currency exchange
Best alternatives to exchange your money in Budapest
Exchanging money in an exchange office is a common thing to do, and there’s nothing wrong with it. However, you might end up losing money – even when the bureau says that it’s free, the exchange rate will have a cost added to it. Likely, you’ll end up paying a fee for the service, and a hidden fee on the rate, which makes it difficult to know how much you’re really paying for it.
That’s why we recommend you to use a provider like Wise or Revolut cards when you come to Budapest. The main benefit is that you’ll save in hidden fees, and you’ll know exactly how much you’re saving. They’re cheaper and more transparent: But here’s a full list of reasons:
• You can have multiple currencies in your account, including GBP, USD, HUF, EUR, PLN, AUD, JPY, etc.
• You get the mid-market rate when converting your money, with no hidden fees
• You only pay a small transparent fee for each conversion
• You can make a budget for your trips, making it easier to track costs
• It’s free to open an account and takes just a few minutes
• You can do it from within the EU, UK, US, Australia, Canada, Japan, and many more countries
• You can get a VISA card or simply get an instant virtual card and top it up, which you can use in any Hungarian shop
Currency calculator
Here you can calculate your conversion from HUF to other currencies, like USD, GBP, EUR, CAD, AUD, JPY, BRL, etc. This way you can estimate how much you’ll need when in Budapest.
