Currency & Banking in Budapest

Hungary uses the Hungarian Forint (HUF). While some tourist-oriented businesses accept euros, you'll need Forint for daily life—university cafeterias, local shops, public transport, and rent. As of early 2026, €1 ≈ 380 HUF, though exchange rates fluctuate. Budget roughly €400–700 per month depending on lifestyle: accommodation (€400–600), food (€250–350), transport (€15–30 with student passes), and entertainment.

Digital-First Options: Revolut & Wise

Revolut and Wise are popular among international students and widely accepted in Budapest. Both offer:

• Multi-currency accounts hold euros, forints, and others simultaneously

• Competitive exchange rates significantly better than traditional banks

• Instant transfers between users (common for splitting rent or dinner bills)

• Virtual and physical cards accepted at most Hungarian retailers and ATMs

(If you use the links on this page to sign up for Revolut or Wise, you helps us earn a modest comission which keeps this site going for free.)

Wise specifically offers a local Hungarian account number (HU IBAN), making it easier to receive domestic transfers like scholarship payments or employer deposits. Revolut provides more budgeting tools and cashback options. Neither requires a Hungarian residence permit to open, making them ideal for your first weeks.

Opening a Traditional Bank Account

Once settled, a Hungarian bank account simplifies rent payments and receiving funds locally. Requirements typically include:

• Passport or EU ID

• Hungarian Residence Permit

• Address Proof

• Hungarian Phone Number

Student-Friendly Banks:

• UniCredit Bank: International bank with excellent service

• OTP Bank: Largest network, English-speaking staff at major branches, "Smart Account" for students

• Erste Bank George: Strong digital platform, student packages available

• MBH Bank: Competitive student terms

• CIB Bank: Good international student services

Account Fees: Most offer free or low-cost student accounts (under €2/month) with conditions like regular income deposits or card usage quotas.

Practical Tips

• Bring cash initially—having €200–300 in HUF for your first week covers emergencies before digital cards arrive

• Notify your home bank before traveling to prevent card blocks

• Request a forint-denominated card from your home bank as backup; dynamic currency conversion at ATMs often includes hidden fees

• Keep proof of enrollment handy—banks and some services offer student discounts with your university ID