Forints or Euros?

[budisal]

We'll be in Budapest for two days before our cruise starts (and an additional two days with the cruise). Do we have to buy Hungarian forints or are we OK to just use Euros during that period. The remainder of the cruise (ending in Amsterdam) we will be using Euros (and our credit cards of course).

Any experienced travellers out there who can help us with this question? Thank you....

[Shmoo here]

We'll be in Budapest for two days before our cruise starts (and an additional two days with the cruise). Do we have to buy Hungarian forints or are we OK to just use Euros during that period. The remainder of the cruise (ending in Amsterdam) we will be using Euros (and our credit cards of course).

Any experienced travellers out there who can help us with this question? Thank you....

 

On our river cruise we were in Budapest for 3 days (between two cruises). We got forints. There may be some businesses (particularly hotels/taxis that cater to a lot of visitors) that will take euros, but the exchange rate will be terrible.

[dln929]

We'll be in Budapest for two days before our cruise starts (and an additional two days with the cruise). Do we have to buy Hungarian forints or are we OK to just use Euros during that period. The remainder of the cruise (ending in Amsterdam) we will be using Euros (and our credit cards of course).

Any experienced travellers out there who can help us with this question? Thank you....

The currency is NOT euros. Some places may take it but it's not commonly accepted. Just get small amounts from the ATMs. You should know about how much you want to/need to spend, so it's no big deal to get the currency that the country uses.

[budisal]

Thanks Shmoo here and dln929. I was hoping to not have to get another currency, but it's not a big deal. We'll probably grab $100 at a time from the hotel ATM while we're exploring the city. Only a little more than 3 weeks to go. We're getting really excited now. Thanks again for your help.

[TravelerThom]

... I was hoping to not have to get another currency, but it's not a big deal. We'll probably grab $100 at a time from the hotel ATM while we're exploring the city...

Quick quiz: when you step up to that ATM do you know how many Forints you want (the ATM won"t give you a clue in US$)?

300, 3000, 30,000, 300,000?

(30,000HUF is about US$108)

 

Usually bank ATMs are both safer and give better rates than most hotel or airport ATMs.

 

Since your boat and crew is probably returning to Hungary soon, excess Forints can be used as tips to the boat crew.

 

Enjoy Budapest and your cruise!

Thom

Edited August 12, 2016 by TravelerThom

[budisal]

Sure, make it more fun for me! 30,000 HUF = $108 U.U. = $138(?) CDN. Geeez, this travelling' shard on the math skills. Thanks for that U.S. equivalency. That helps a lot. I'll download a currency exchange App for my iPad and that will keep me straight. Thanks for your help. Appreciated.

[Kenato]

I found that more places than I had been led to believe take Euros. Even in the market, stalls took Euros. Rate of Exchange can be a bit high. As stated earlier, you are safer having some Forints available when you can't use your Euros.

[Valley Girl of VA]

I found many places took Forints but you got a better exchange using the forints. I carried a cheat sheet with me for all the conversions since we were in the Czech Republic, Hungary and other countries that used the Euro.

 

A tip, you are better off buying paprika at the market in Budapest than on the ship in the little gift store.

[Ritabob]

Do you have a no fee bank account? You might be able to order your forint ahead of time and avoid the extra fees.

Quite a few merchants do accept Euros, but if you do the calculations you'll find it may be convenient, but costly for you.

And if you do end up with a few extra forint at the end of your trip, I find they (and other foreign) currency make interesting souvenirs for children. It teaches them about other countries and give them something to start collecting for fun.

RB

[nancyevans]

Look at the ATM carefully. It may allow you to select the denominations. I've read that some small shopkeepers prefer not to take large bills so we got small denominations.

[CILCIANRQTS]

I think most here will agree that it's almost always better to use local currency to get the best price.

Prove it for yourself by comparing dollar equivalent of local currency vs. euros.

Shopkeepers are more than willing to make extra profit on the exchange.

Best example is Mexico - usually a MASSIVE difference between peso and dollar prices!

[CILCIANRQTS]

I think most here will agree that it's almost always better to use local currency to get the best price.

Prove it for yourself by comparing dollar equivalent of local currency vs. euros.

Shopkeepers are more than willing to make extra profit on the exchange.

Best example is Mexico - usually a MASSIVE difference between peso and dollar prices!

 

P.S. And the most powerful "Please rip me off" phrase is:

"How much is that in American?" :):p;)

[garycarla]

P.S. And the most powerful "Please rip me off" phrase is:

"How much is that in American?" :):p;)

 

 

followed by :

 

"Here is your sign".

[dln929]

Sure, make it more fun for me! 30,000 HUF = $108 U.U. = $138(?) CDN. Geeez, this travelling' shard on the math skills. Thanks for that U.S. equivalency. That helps a lot. I'll download a currency exchange App for my iPad and that will keep me straight. Thanks for your help. Appreciated.

 

We have found on the average that European countries who do not use the Euro generally have far better prices so it's a good thing that you'll have that app on your phone. The temptation to Shop Shop Shop is very strong in Budapest...!

[Missus Makkem]

Just spent 3 days in Budapest prior to our Viking cruise and took some Forints with us as we did not want to have an evening meal in our hotel and guess what there were lots of small exchange shops all around us and we got more forints for our euros than we did at home.

Also there was no commission.

Sorry but in our experience they prefer their own currency to others, plus its great for the cheap public transport.

[gentlemancruiser]

Sure, make it more fun for me! 30,000 HUF = $108 U.U. = $138(?) CDN. Geeez, this travelling' shard on the math skills. Thanks for that U.S. equivalency. That helps a lot. I'll download a currency exchange App for my iPad and that will keep me straight. Thanks for your help. Appreciated.

 

There are a couple of places downtown such as Guardian (Yonge St.) that will have HUF and their rate is OK for HUF and you can get some of you want. Most banks will have to order it.

 

We've been to Budapest twice now for 2 days(pre cruise) and found most places took CC's so we used our CC's everywhere we could. We only really needed HUF if we went in a taxi. I went to the big market and they accepted euro's, however my small change owed was given back in HUF because the vendor didn't have the right amount.

 

My recommendation is stick with Euro's. If you must get HUF to use, ask your hotel to change some small amounts.

[TravelerThom]

....there were lots of small exchange shops all around us and we got more forints for our euros than we did at home.

Also there was no commission...

Did you look at the difference between the rate at which those shops sell forints for euros, versus the rate at which they sell euros for forints? They usually have a 10% or more spread on these rates, so they have no need for "commission". Both my no-fee bank ATM card and my no-fee credit card charge about 0.25% commission above the inter-bank rate, so their spread is about one half of one percent. I happily pay that commission versus using the "no commission" shops. Note that non-bank ATMs (often found in airports and hotels) do have additional fees and poor exchange rates; I stick to ATMs associated with banks. IME buying foreign currency at home is both considerably more expensive than buying it in country (assuming that you have a no-fee ATM card and use it at a bank), and exposes you to the risk of having something happen to that currency while traveling. I strongly recommend if one does much international travel, getting Credit Cards and ATMs that minimize out-of-country fees. Then use bank ATMs for currency or charge with credit cards.

[dan4182]

I found many places took Forints but you got a better exchange using the forints. I carried a cheat sheet with me for all the conversions since we were in the Czech Republic, Hungary and other countries that used the Euro.

 

 

 

A tip, you are better off buying paprika at the market in Budapest than on the ship in the little gift store.

 

 

Isn't the official Czech Republic currency still the koruna?

 

I know Euros are commonly accepted there.

[Got2Cruise]

Isn't the official Czech Republic currency still the koruna?

 

I know Euros are commonly accepted there.

 

 

 

Budapest is in Hungary

[dan4182]

Budapest is in Hungary

 

 

Didn't Valley Girl of Va's original post mention the Czech Republic as being one of the countries that use the Euro?

[TravelerThom]

Didn't Valley Girl of Va's original post mention the Czech Republic as being one of the countries that use the Euro?

It depends on how you read it. I'm pretty sure that she was referring to conversion cheat sheets for:

1. Czech Republic [that uses koruna]

2. Hungary [that uses forints]

3. other countries that use the Euro

I found many places took Forints but you got a better exchange using the forints. I carried a cheat sheet with me for all the conversions since we were in the Czech Republic, Hungary and other countries that used the Euro...

[gnome12]

There are a couple of places downtown such as Guardian (Yonge St.) that will have HUF and their rate is OK for HUF and you can get some of you want. Most banks will have to order it.

 

We've been to Budapest twice now for 2 days(pre cruise) and found most places took CC's so we used our CC's everywhere we could. We only really needed HUF if we went in a taxi. I went to the big market and they accepted euro's, however my small change owed was given back in HUF because the vendor didn't have the right amount.

 

My recommendation is stick with Euro's. If you must get HUF to use, ask your hotel to change some small amounts.

 

My favourite currency exchange is Calforex on Queen west of McCaul. Their rates seem to be better than Guardian and they have a really broad range of currencies. I'd check in advance for HUF.

 

I don't think that any Canadian financial institution won't ding you for a currency exchange fee when using a foreign ATM. I don't pay a fee for the withdrawal itself, but the bank charges 2.5%. I try to use my credit card as much as possible; it doesn't charge an exchange fee and has pretty good rates. But sometimes you need cash.

[Valley Girl of VA]

Didn't Valley Girl of Va's original post mention the Czech Republic as being one of the countries that use the Euro?

 

That is not how I meant it. I was referring to getting three currencies and having a cheat sheet - one for Czech which is not on the euro, one for Hungary and one for other countries that are on the Euro like Austria, Germany, etc

 

I apologize if I wasn't clearer.

 

Jane

[Missus Makkem]

Did you look at the difference between the rate at which those shops sell forints for euros, versus the rate at which they sell euros for forints? They usually have a 10% or more spread on these rates, so they have no need for "commission". Both my no-fee bank ATM card and my no-fee credit card charge about 0.25% commission above the inter-bank rate, so their spread is about one half of one percent. I happily pay that commission versus using the "no commission" shops. Note that non-bank ATMs (often found in airports and hotels) do have additional fees and poor exchange rates; I stick to ATMs associated with banks. IME buying foreign currency at home is both considerably more expensive than buying it in country (assuming that you have a no-fee ATM card and use it at a bank), and exposes you to the risk of having something happen to that currency while traveling. I strongly recommend if one does much international travel, getting Credit Cards and ATMs that minimize out-of-country fees. Then use bank ATMs for currency or charge with credit cards.

All I know is we changed some of our dollars at the exchange shop round the corner from our hotel and we got more than when we got them in UK so that was good enough for us, did not need too many just enough for our evening meal as they did not take Euros.

[BPCruiser]

There was an ATM at the Intercontinental Budapest where we stayed. Convenient for getting small amounts of Forints.

We loved Budapest!! Be sure to stop and have a great meal at Cafe Kor, get reservations. Our favorite food spot there! The best schnitzel and apple strudel ever!