exchange

DOS AND DON'TS OF CHANGING MONEY IN BUDAPEST -- True Guide Budapest

Hungary is a member of the EU that does

not use the euro our official currency

is the Hungarian forint you will most

definitely get a better exchange rate in

Hungary then you would get in your home

country so you should change in Budapest

there there are some tips that you

should follow I will talk about these in

this video

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hungry of course is in Europe it is also

part of the European Union but we have

not adopted the euro therefore we have

our own currency the Hungarian forint it

is circulated in denominations ranging

from an almost worthless 5 foreign coin

to extremely flashy

20,000 foreign bills probably there are

3 general tips that I can tell you that

you should keep before you leave to

Budapest first you should know the

actual exchange rate between your own

currency and the Hungarian forint second

you should remember that these exchange

rates always change and third you should

research your home bank's partnerships

before your departure there are certain

many exchange places that you should

avoid you should avoid airport currency

exchange boots as you know almost

everything is more expensive at airports

than in town and money exchange boots

are no exception so if you feel that you

must change some money at the airport to

somehow function in hungry by the

minimum amount of funds necessary before

you will be good after City Center where

you will find much more reasonable

options currency exchange places near

train stations or interesting areas just

like at the airport are probably giving

you a much worse rate because anything

that is a naturalistic expensive area of

town we will pass on the added costs of

their location to you as a tourist so

probably if you just walk a block or two

away from these areas you will find much

better options although many Budapest

banks offer currency exchange services

and maybe this might seem like the

safest option you should be aware that

banks usually charge extremely expensive

rates compared with smaller independent

money changing services that are usually

found just a few steps away do not even

consider it an option that you should be

changing money on the street never never

do business with us shady guys who would

approach you on the sidewalk or in some

other public place offering you to

change money it is a common scam in

Budapest that these guys like some

magicians will somehow trick

you into changing the high-denomination

does that they are giving you into some

low denomination girls or even fake

girls which will mean that you will lose

a lot of your money but how should you

choose a currency exchange booth well

you should not choose by the looks of

the place there plenty of currency

exchanges found on almost every block of

downtown Budapest some of them are flash

establishments which will actually

probably give you a worse rate then

those may be tiny dodgy looking nuts

which are more hidden from sight so

maybe you should choose the later option

I can describe a foolproof way how you

can tell if a currency exchange place is

offering fair rates for that services

they are if they buy and if they're sell

rates are close to each other when

looking at the display showing money

exchange rates you'll actually see few

numbers for each type of currency

they'll buy and there sell amounts per

single unit of foreign money that is one

year old one dollar one British Pound

etc and that the money changing booth

with good rates these two numbers will

be very close to each other because the

actual value of the foreign is

approximately the median of these two

numbers so that by answer its are close

to each other maybe that's a good option

to change your money naira the sign mill

Commission is often not a bargain you

should just look for the best rates many

Budapest money exchange places

prominently offer no Commission on their

transactions that this is actually

probably a sign that they will try to

rip you off you should just look at the

best rates and decide according to that

just use ATMs to take out cash perhaps

the simplest is to just use the ATMs

found everywhere you take out cash from

your own bank account at home but beware

you should always always choose to have

the exchange rate done by your own bank

and not by the ATM provider that will

charge you and offer ridiculously awful

rate

just use your credit card Visa and

MasterCard are the most widely

recognized credit cards in Budapest and

with very few exceptions they basically

accepted everywhere so just try to use

your credit card from home as much as

you can hopefully I was able to give you

some tips into how to changing your own

money into our Hungarian forint or how

to use your own credit card maybe to

spend money as you wish

just enjoy your stay in Budapest