Hungarian Money and currency converter

Hungary’s currency is the forint, abbreviated as ‘Ft’ and ‘HUF’, Click here for the hungarian currency converter.

The Hungarian forint (Ft) is not divided into fillers anymore.
There are coins of 1, 2, 5, 10, 20, 50, 100 Ft.

Notes come in seven denominations: 200, 500, 1000, 2000, 5000, 10000 and 20000 Ft.

200 Ft: On the front, it bears the portrait of King Róbert Károly: denomination both in figures and in writing with the following safety features: a hidden picture, see-through registration and serial numbers. On the back are the Diósgyőr Castle (in Miskolc): the denomination, the see-through registration and a device to assist the partially sighted. Certain patterns of the drawing fluoresce under ultra-violet light on both the front and the back of the note.

 

500 Ft: On the front, it bears the portrait of Ferenc Rákóczi II.: denomination both in figures and in writing with the following safety features: a hidden picture, see-through registration and serial numbers. From 1 February 2001, the National Bank of Hungary issued a new 500 forint banknote introducing optically variable ink as a new security feature. On the back is the view of Sárospatak Castle: the denomination, the see-through registration and a device to assist the partially sighted. As it emerges from the multi-colour drawings the ink layer is tactile. Certain patterns of the drawings fluoresce under ultraviolet light on both the front and the back of the note.

1 000 Ft: On the front, it bears the portrait of the famous Hungarian King, Matthias Corvinus: denomination both in figures and in writing with the following safety features: a hidden picture, see-through registration and serial numbers. On the back is the Hercules Fountain and a decorated initial in Corvina style: the denomination, the see-through registration and a device to assist the partially sighted. Certain patterns of the drawings fluoresce under ultra-violet light on both the front and the back of the note.

2 000 Ft: On the front, it bears the portrait of Gábor Bethlen: denomination both in figures and in writing with the following safety features: holographic metal strip, a hidden picture, see-through registration and serial numbers. On the back are the Prince among his scientists: the denomination, the see-through registration and a device to assist the partially sighted. Certain patterns of the drawings fluoresce under ultra-violet light on both the front and the back of the note.

5 000 Ft: On the front, it bears the portrait of Count István Széchenyi: denomination both in figures and in writing with the following safety features: holographic metal strip, a hidden picture, see-through registration and serial numbers. On the back is the view of the Széchenyi Mansion in Nagycenk: the denomination, the see-through registration and a device to assist the partially sighted. Certain patterns of the drawings fluoresce under ultra-violet light on both the front and the back of the note.

10 000 Ft: On the front, it bears the portrait of Stephen, the first Hungarian King: denomination both in figures and in writing with the following safety features: holographic metal strip, a hidden picture, see-through registration and serial numbers. On the back are a view of Esztergom: the denomination, the see-through registration and a device to assist the partially sighted. Certain patterns of the drawings fluoresce under ultra-violet light on both the front and the back of the note.

20 000 Ft: On the front, it bears the portrait of Ferenc Deák: denomination both in figures and in writing, the bank title Magyar Nemzeti Bank, the coat-of-arms of the Republic, a hidden picture, see-through registration and serial numbers. On the back is the view of the old House of Commons: the OVI (Optically variable ink) rosette, the denomination, the see-through registration and a device to assist the partially sighted. Certain patterns of the drawings fluoresce under ultra-violet light on both the front and the back of the note.

Paying by credit card is not the routine experience it is in much of the West. Cards are accepted by most tourist-related businesses such as restaurants and travel agencies, but often not in museums, supermarkets and train or bus stations.

How to open a bank account in Hungary?

Foreigners intending to spend a longer period in Hungary. or those who have relocated here, may wonder how to open a bank account- the first step is to determine which bank has the most appropriate services.

Although the nation`s biggest banks- OTP and Postabank - are the most widespread, not everyone working there speaks English.

Retail banks, now fairly widespread and often with good reputations for handling the needs of expats, include the Russian majority-owned Általános Értékforgalmi Bank Rt (ÁÉB), the German owned Magyar Külkereskedelmi Bank Rt (MKB) and the US-owned CitiBank Rt may be worth considering.

Just as in any area of business, different banks have their own ways of doing things.

In al cases, foreigners are required to show a valid passport or some other form of identity documentation.

Officials at OTP said a valid passport would open a (forint számla) forint-based bank account, but added the client would receive no interest on their deposited money. They would receive a plastic card which could be used at automatic teller machines, but not to pay for anything at a shop or restaurant.

However foreigners could also open (deviza számla) a hard currency account. For this OTP required two different forms of identification and at least euros 300 ($254), which would generate interest.

MKB officials said foreigners required a passport and could have their earnings transferred to their forint account. However if they opted for a forint-based credit card they must put down 80% of their spending limit as a deposit up front before using the card.

For a hard currency account and a credit card clients at MKB must place FT 150,000 ($511) as a deposit before being able to use the service.

ÁÉB officials said an account could be opened by foreigners with $ 300. To obtain a credit card the amount that would need to be places as a deposit might vary from Ft 10,000 to Ft 50,000.

CitiBank officials said that if a foreign client opened an account with Ft 600,000 ($2,047) or the equivalent in hard currency, they would pay no transaction fees and could withdraw money from ATMs without a surcharge.

However foreigners should consult their bank of choice for more details, as all banks have different interest rates which are constantly changing, as are the foreign exchange rules.

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