Money in Budapest: Everything a Traveler Needs to Know

When planning a trip to Budapest, one of the most important topics to understand is money: how much you’ll need, what currency to bring, where to exchange it, whether you can use your cards, and how far your budget will go. Budapest is often labeled as “cheap” compared to Western European capitals, but this is only partially true. In reality, Budapest is affordable, not cheap – especially when you know how and where to spend.

In this detailed guide, we’ll walk you through everything you need to know about money in Budapest, including currency exchange, ATMs, using cards, tips and tipping, budgeting your stay, and real-world examples of what things cost in 2025.

What Currency is Used in Budapest?

The official currency in Hungary is the Hungarian Forint, abbreviated as HUF or Ft.

• Common coins: 5, 10, 20, 50, 100, 200 Ft
• Banknotes: 500, 1000, 2000, 5000, 10,000, 20,000 Ft

While there’s been talk of Hungary switching to the euro, it has not happened yet, and all local transactions are conducted in forints. Tourists may find some places – especially tourist-heavy ones like hotels, international chains, or major restaurants – accepting euros or dollars, but exchange rates are poor and you’ll often end up paying 10–20% more than if you paid in forints.

👉 Tip: Always pay in Hungarian forints whenever possible.

Where to Exchange Currency in Budapest

Exchanging money the right way can save you a surprising amount. Avoid currency exchange traps that charge hidden commissions or offer terrible rates.

Always check:

• Exchange rate
• Commission (fee) – it may be hidden, so ask directly!

Recommended exchange offices (with reliable rates and low fees):

• Váci Street #86 and #36
• Petőfi Sándor utca #1 and #12 – parallel to Váci
• Szász Street #10–12, near St. Stephen’s Basilica

👉 Pro tip: Exchange only a small amount at the airport if needed (for transport), and do the bulk in the city center.

ATMs and Withdrawing Cash in Budapest

ATMs are widespread and easy to find throughout Budapest, even in small neighborhoods. They offer a convenient and often cost-effective way to access local currency.

Best practices:

• Use ATMs affiliated with major Hungarian banks, like OTP, K&H, Erste, or UniCredit.
• Avoid Euronet ATMs – they are everywhere in tourist zones but often charge high fees and offer poor exchange rates.
• Always choose to be charged in forints, not your home currency – this avoids “dynamic currency conversion” fees.

ATM fees:

• Your home bank may charge an international withdrawal fee.
• Local Hungarian banks do not usually charge additional fees, but always read the screen before confirming.

Using Credit & Debit Cards in Budapest

Budapest is a card-friendly city. Most places accept Visa, MasterCard, and often American Express.

You can pay by card at:

• Restaurants & cafes
• Grocery stores & shopping malls
• Museums & attractions
• Public transport ticket machines
• Taxis (though ask before you get in)

Contactless (tap) payments are common, and Apple Pay and Google Pay work widely.

When You Might Need Cash:

• Local markets or small food stalls
• Older cafes or mom-and-pop shops
• Tipping
• Some public restrooms (which may charge 100–300 Ft)

Tipping Culture in Budapest

Tipping in Hungary is customary and often expected in the service industry. However, practices differ slightly from other countries.

How much should you tip?

• Restaurants: 10%–15% is standard. Some restaurants automatically include a service charge on your bill – check the receipt!
• Taxis: Round up or add 10%
• Cafes, bars: Optional, but 5%-10% is appreciated
• Tour guides: 10%–15% if you’re happy with the service
• Hotel staff: 200–500 Ft for porters or housekeeping

👉 Important: If a service charge is already added to your bill, there’s no need to tip extra.

How Much Money Do You Need Per Day?

Budapest is a city where you can get by on a budget or splurge in style, depending on your preferences. Let’s break down three daily budgets for 2025.

🟢 Budget Traveler (35–50 EUR/day):

• Hostel bed or budget room: 10–30 €
• Street food or budget eats: 5–10 €
• Public transport: 2–4 €
• Free attractions or city walks

🟡 Mid-Range Traveler (60–120 EUR/day):

• Private apartment or 3-star hotel: 40–70 €
• Restaurant meals: 15–25 €
• Museum entries: 3–5 €
• One guided tour or experience

🔴 Luxury Traveler (150+ EUR/day):

• 4–5-star hotel: 120–300 €/night
• Gourmet dining: 30–70 €/meal
• Private transfers or day trips
• Spas, river cruises, fine wines

👉 Your expenses depend entirely on your travel style, but the city caters to every type of traveler.

What Do Things Cost in Budapest in 2025?

Let’s look at real-world prices (in Hungarian Forints and Euros):

How to Save Money in Budapest

While Budapest is already a fairly affordable city, you can stretch your budget even further with a few smart moves:

✅ Use Public Transport Instead of Taxis

Budapest has one of the best public transport systems in Europe. It’s clean, reliable, and safe.

• Buy a 24-hour pass (2500 Ft / ~6.50 €) or a 72-hour pass (5500 Ft / ~14.50 €) to save on multiple rides.
• Avoid taxis unless absolutely necessary. If you do take one, use apps like Bolt (the local Uber alternative) to avoid overcharging.

✅ Choose Free Attractions

Many of Budapest’s best experiences are completely free:

• Walk along the Danube promenade
• Explore Fisherman’s Bastion (the upper towers are paid, but much of it is free)
• Visit Heroes’ Square
• Stroll through City Park and Margaret Island
• Hike up Gellért Hill for stunning views

✅ Eat Where the Locals Eat

Avoid the overpriced tourist restaurants near Váci Street. Instead, look for:

• Menza (Liszt Ferenc tér) – stylish but affordable
• Frici Papa Kifőzdéje – a cheap, authentic Hungarian eatery
• Lunch menus (“menü”) – many restaurants offer a discounted lunch menu from 1200–1800 Ft (3–5 €)

✅ Visit Thermal Baths on Weekdays

Budapest is famous for its thermal baths. Popular options like Széchenyi and Gellért cost 6000–9500 Ft (16–25 €), but often offer discounts on weekdays or early morning entries.

Best Mobile Apps for Managing Money in Budapest

Make your life easier by downloading a few essential travel and money apps:

• Revolut / Wise / N26 – Excellent for paying and withdrawing in local currency without crazy exchange fees.
• Bolt – Budapest’s go-to app for affordable taxi rides.
• BKK Futár – Official public transport app. Shows real-time routes, prices, and schedules.
• XE Currency – For up-to-date exchange rates.
• Google Pay / Apple Pay – Contactless payments are widely accepted.

Can Tourists Get VAT Refunds in Hungary?

Yes! Hungary has one of the highest VAT rates in Europe at 27%, and non-EU tourists can reclaim it on eligible purchases.

Conditions:

• You must spend at least 175 EUR (about 70,000 Ft) in one store on the same day.
• Ask the shop for a Tax-Free form (ÁFA refund form) at the time of purchase.
• Show your passport and keep receipts.
• Claim your refund at the airport before departure (customs validation is required).
• Refunds can be in cash or to your card.

👉 This is only worthwhile if you’re buying expensive items like designer clothes, electronics, or fine crafts.

Can You Use Euros or Dollars in Budapest?

Technically, yes – but with caveats.

Where Euros/Dollars Might Be Accepted:

• Major hotels
• Souvenir shops in tourist areas
• Some taxi drivers
• International chain restaurants

The Problem:

• Exchange rates will be bad – you’ll often be charged 5–20% more than the forint equivalent.
• Change is usually given in forints, so you lose twice.

👉 Only use Euros/Dollars in emergencies. Otherwise, convert your money or use your card in forints.

Final Tips About Money in Budapest

⏱️ Timing Matters

• Summer and holidays: Prices go up 20–30% in high season (July–August, Christmas, New Year).
• Formula 1 Week (July): Accommodation is scarce and expensive.
• Late autumn and early spring: Great value + fewer tourists.

🚷 Common Scams to Avoid:

• Fake exchange dealers on the street
• Restaurants without printed menus or where the final bill is suspiciously high
• Taxis refusing to use the meter (always insist or use Bolt)

🧾 Keep Receipts

Hungary has strong consumer protection laws, so if something goes wrong, you can often get a refund or report the issue, but you’ll need a receipt.

Sample Daily Budgets

We have complete guide on Prices in Buapest in 2025, upated so far.

Here’s a quick view of how far your money can go in Budapest:

🟢 Backpacker (~40 € / day)

• Hostel: 15 €
• 2 street meals: 8 €
• Metro/tram/bus: 3 €
• Museum or attraction: 5 €
• Coffee/snack: 2 €
• Miscellaneous: 7 €

🟡 Mid-Range (~100 € / day)

• Apartment rental: 50 €
• Two good meals: 25 €
• Transport and museum: 10 €
• Thermal bath: 15 €

🔴 Luxury (~200+ € / day)

• Boutique hotel: 120 €
• Gourmet meals with wine: 50 €
• Private spa, massage, or Danube cruise: 30 €
• Premium souvenirs or fashion: ∞

Currency Conversions: Quick Reference for 2025

💡 Exchange rates fluctuate. Always check real-time rates using the XE app or Google.

Is Budapest Expensive?

No! But it’s not dirt cheap either. Budapest offers exceptional value compared to most European capitals. With a mix of luxurious experiences and backpacker-friendly options, it’s a city that rewards smart spending.

By understanding how currency works, using local forints, avoiding tourist traps, and planning your expenses, you can experience the very best of Budapest without breaking the bank.

Whether you’re indulging in a Danube cruise, sipping wine in the Jewish Quarter, or soaking in 38°C thermal waters under the stars, Budapest will make every forint feel well spent.