The Hungarian currency is the forint (officially abbreviated HUF but as Ft in most stores). The currency is distributed in notes of 100, 200, 500, 1,000, 2000, 5,000, and 10,000 forints, and coins in denominations of 1, 2, 5, 10, 20, 50, and 100 forints. The forint is divided into 100 fillér, but the small coins are being phased out of circulation and visitors are unlikely to encounter them. Many grocers, for instance, simply round up fillérs to the next highest forint.
Banks and exchange offices are usually the best places to exchange money. There is an exchange booth at the airport in Budapest as well as at the train stations in the capital. You can also change cash (but not checks) at post offices and hotel reception desks nationwide, although their rates may be somewhat lower and their commissions higher. There also are quite a few automatic currency exchange machines open after hours.
Forints are the only legal tender in Hungary.
The best way to access cash from accounts while in Budapest and other major cities is to use one of the many ATMs. They are open 24 hours and accept major international credit and bank cards. Whatever you do, do not use the black market: it’s illegal and you will almost certainly be ripped off. Beware of scam artists in Budapest offering to change money.
The largest bank, OTP, has branches everywhere and charges no commission on travelers’ checks. Other banks and most exchange offices charge one or two percent. The American Express office in Budapest is at Deák Ferenc utca 10.
Many stores, hotels, restaurants, and other businesses accept major credit cards (Visa, MasterCard, American Express, and Diners Club). A logo displayed at the entrance indicates that a business accepts credit cards, but just to be sure, ask before you buy. Some stores displaying the logo will not actually accept your card. Most stores do not accept travelers’ checks.