Sachin Walls
Budapest is a city of history, stunning landmarks, and spa life, built on the healing waters of 125 thermal springs. With tourism to Hungary increasing, it's important to know how to get the best deal for your currency. While Budapest Airport has currency exchange services, such as Interchange, it's widely recommended to avoid exchanging money at the airport due to unfavourable exchange rates. Instead, consider using an ATM, exchanging money in the city centre, or transferring money ahead of time using a service like Wise.
| Characteristics | Values |
|---|---|
| Currency exchange company at Budapest Airport | Interchange |
| Interchange's unique service | Exchange exotic currencies at select locations |
| Interchange's accepted cards | VISA, VISA Electron, MasterCard |
| Interchange's other services | Swift and seamless money transfers |
| Interchange's VAT refund policy | If your permanent address is outside the EU, you are entitled to a VAT refund on goods purchased in the EU |
| Interchange's tax refund policy | Only Global Blue and Planet Tax Free have payment partners at Budapest Airport |
| Advice from Budapest-travel-tips.com | Avoid the exchange offices located in touristic sites |
| Advice from Tripadvisor reviews | NEVER use an airport exchange |
| Advice from Ultimate Budapest | Be wary of places like train stations, airports and other transport hubs and their unusually high rates |
Explore related products
What You'll Learn
Interchange is the official currency exchange company at Budapest Airport
Interchange provides a range of services, including currency exchange, VAT refunds, cash advances, travellers cheques, and money transfers. They have branded ATMs that are easy to locate, fast, and available 24/7. Interchange also offers a buy-back guarantee, assuring customers of a repurchase of up to 50% at the currency's initial exchange rate. The company is the primary Western Union agent in 11 countries, providing swift and seamless money transfers globally.
In addition to currency exchange, Interchange assists with tax refunds for goods purchased within the EU. To qualify for a VAT refund, individuals must meet the minimum spending conditions, indicate their intention to exercise their right to a refund at the time of purchase, and present the goods in their original, unopened condition along with the required documents to the customs authority when leaving the EU. Tax-free forms for items in hold baggage need to be stamped by the customs officer at Terminal 2A departures. Interchange processes refunds for forms stamped by Hungarian customs, but forms stamped in another EU member state may need to be sent directly to the service provider.
Overall, Interchange provides a comprehensive range of financial services at Budapest Airport, making it convenient for travellers to exchange currency, transfer money, and collect tax refunds during their journey.
The History of O'Hare Airport: Construction and Development
You may want to see also
Explore related products
Avoid exchanging money at the airport if possible
When travelling to a foreign country, it is always a good idea to have some local currency in your pocket. However, it is not always a good idea to exchange your money at the airport.
Airport currency exchange kiosks are convenient, but they rarely offer good exchange rates. They prey on jet-lagged travellers desperate for local cash by charging inflated rates and hefty service fees. In addition, you will want to avoid travelling with large amounts of cash for security reasons.
If you are travelling to Budapest, you will want to have some Hungarian Forint in your pocket when you arrive. While it is possible to exchange your money at the airport, you will likely get a better deal in the city centre. There are many places to exchange money in Budapest, but not all offer competitive rates. Interchange, the official financial service partner of Budapest Airport, has been criticised for its poor exchange rates and high fees.
Instead, you could consider ordering currency from your local branch before your trip to ensure you get the best rate. Alternatively, you could use your bank's ATM network to withdraw cash in the local currency with competitive exchange rates and low fees. If you are travelling by card, consider applying for a no foreign transaction fee credit or debit card.
Nuevo Vallarta, Mexico: Which Airport Should You Fly Into?
You may want to see also
Explore related products
![What Has the Government Done to Our Money? [Reprint of First Edition]](https://m.media-amazon.com/images/I/71slnPbwgeL._AC_UY218_.jpg)
VAT refunds can be collected at the airport
If you are a non-EU resident travelling to Hungary, you can avoid paying VAT on purchases made in the country. This is also the case at Budapest Airport, where several shops advertise the option for duty-free shopping.
To be eligible for a VAT refund, you must meet the minimum spending conditions, indicate at the time of purchase that you wish to claim a refund, and present the goods in their original, unopened condition. You must also present the required documents to the customs authority when you leave the EU. These documents include an invoice listing your identification data, such as your name and permanent address, and a VAT refund form.
At Budapest Airport, VAT refunds can be collected at the Interchange Foreign Exchange desk in the transit zone. However, only refunds from Global Blue and Planet Tax Free can be processed at the airport. For refunds from other service providers, you may need to send the form directly to the issuing service provider by post.
It is recommended that you arrive early before your flight to allow for expected queuing time. You will need to obtain your boarding pass and bag tags and inform staff if you have tax-free goods in your hold baggage. At the customs desk, you must present the goods and the invoices. Please note that the customs officer will only certify that you are taking the goods out of the EU, and you will only be eligible for a tax refund if the items are in their original, unopened, and unused condition.
The Peak Times to Avoid Newark Airport
You may want to see also
Explore related products
There are ATMs at Budapest Airport that accept VISA and Mastercard
If you're looking to exchange money at Budapest Airport, you have a few options. While there are ATMs at the airport that accept VISA and Mastercard, it's important to note that airport ATMs often have higher fees to target tourists. Additionally, these ATMs may offer unfavourable exchange rates, so be sure to check the rates before proceeding with any transactions.
It is generally recommended to use local bank ATMs rather than privately-owned ones, as the fees tend to be lower. You can locate these ATMs using online locator tools for major networks like Visa and Mastercard. When using an ATM in Hungary, you may be offered the dynamic currency conversion service, which allows the ATM to set its own exchange rate, often marked up from the mid-market rate. To avoid this, always choose to view your transaction in the local currency, Forint, instead of accepting the machine's offered exchange rate.
If you want to avoid ATM fees altogether, consider using a money exchange office. Interchange, one of the world's leading currency exchange companies, has shops throughout Budapest Airport. However, keep in mind that exchange offices located in tourist sites like airports may not offer the most competitive rates.
To minimize fees and get the best exchange rates, you might consider exchanging a small amount of money at the airport and then finding a local bank ATM in the city centre to withdraw larger amounts. By planning ahead and familiarizing yourself with the fees and exchange rates, you can make informed decisions about where to exchange your money in Budapest.
Denver Airport: Sleeping Arrangements and Tips for Travelers
You may want to see also
Explore related products
It is recommended to research exchange rates before travelling
Currency exchange is about more than just trading your cash for the local currency when you arrive at the airport. It is recommended to research exchange rates before travelling, and there are several reasons why.
Firstly, it is important to understand the purchasing power of the local currency. This means comparing the prices of everyday items, like a cup of coffee or a meal, to get a sense of value. This will help you set realistic expectations and avoid overspending. For example, in Budapest, a glass of beer usually costs around 800 Forint (Ft), which is less than 2 Euros. A glass of wine costs between 900 and 2500 Ft (2-7 Euros), and a Big Mac menu at McDonald's costs around 2100 Ft (6-7 Euros).
Secondly, it is worth considering the political and economic stability of your destination, as these factors can influence exchange rates. For instance, if a country's economy is struggling, its currency may be devalued, affecting the exchange rate.
Additionally, researching exchange rates before travelling allows you to make informed decisions about whether to exchange money before your trip or wait until you're in the destination country. Airport currency exchanges often charge inflated rates and add service fees, taking advantage of travellers who need local cash immediately upon arrival. Ordering foreign currency from your local bank before travelling can provide convenience and ensure you get a good rate, but it may also be advantageous to wait because local banks, currency exchange offices, or ATMs in the country you're visiting may offer more competitive rates than those in your home country.
Finally, it is essential to be aware of any unique currency features that can help you distinguish genuine notes from counterfeit ones. This knowledge will help ensure that you don't fall victim to fraud during your travels.
Which Cities are Constructing Airports?
You may want to see also
Frequently asked questions
Interchange is one of the world's leading currency exchange companies and has branches at Budapest Airport. However, it is generally advised to avoid exchanging money at the airport due to poor exchange rates.
You can use your card at most places in Budapest, including restaurants, shops, museums and baths. If you need cash, you can use a trusted ATM operator in the city centre, where you are more likely to get a fair exchange rate.
If you or a friend have access to a HUF bank account in Budapest, you can use Wise to make a transfer ahead of time and avoid nasty international bank fees.
