Money & Payments

In Hungary, the law requires shops and catering establishments equipped with online cash registers to provide electronic (bank card) payment options. Cash (HUF) is typically only necessary in certain cases, such as at smaller markets or for nightclub entry fees.

When paying with a foreign bank card, the terminal frequently offers a choice between the local currency (HUF) and the card's own currency (e.g., EUR, USD). This is a standard international practice. If the own currency is selected, the terminal guarantees the exact deducted amount, but the applied exchange rate is typically less favorable. If the local currency (HUF) is selected, the conversion is performed by the card-issuing bank at its own, generally more favorable daily exchange rate.

Although many restaurants and shops accept Euro cash, the exchange rate is determined by the merchant. This frequently deviates significantly from the official mid-market rate (e.g., fixed at the 300–350 HUF/EUR level), which can result in higher costs for the buyer. Furthermore, change is almost exclusively given in Forints.