Bargaining
Except for buying in the (not food) market or at street vendors, it is not usual to bargain.
Cheques
Cheques are not usual means of payment in Hungary. Banks may accept them, but most other businesses won’t. You’d better take a credit card or cash with you.
Credit Cards
The use of credit and bank cards is not so wide-spread in Hungary as it is in the USA or in some Western-European countries. Most hotels (except for some small ones) and many shops accept major credit cards like VISA, Eurocard/Mastercard and maybe American Express and Diners, but JCB and other cards are rarely accepted. Although there are thousands of ATM’s throughout Hungary, there may be none in some smaller settlements. It’s highly recommended to always have with you some cash (about 10 000 Ft equaling to about 30-35 USD ). Be careful, if you pay with a credit card, it’s like when you pay in cash. There are some places (especially a small number of downtown restaurants and bars in Budapest), where credit cards will be copied in a couple of seconds by employees and the copy will be used to buy as long as your credit is overdrawn. So never leave your credit card out of your sight.
Exchange
You can change money at banks, official exchange offices, selected post offices and at some hotels. All major international currencies are accepted (over 20). Some hotels may accept only a limited number of currencies (mostly USD and EUR). The best exchange rates are available at exchange offices. NEVER change money at people, who ask you in the street, whether you wan’t to change money. It is qualified as a criminal act and it is highly sure, that you will be cheated.
Inflation
The annual inflation in Hungary is about 7% as of July 2002. The inflation is getting from year to year slightly lower.
Money
Hungary’s official currency is the Hungarian Forint (Ft or HUF). All businesses in Hungary must accept it as means of payment except for some casinos.
Bank notes: 20 000 Ft, 10 000 Ft, 5 000 Ft, 2 000 Ft, 1 000 Ft, 500 Ft, 200 Ft
Coins: 100 Ft, 50 Ft, 20 Ft, 10 Ft, 5 Ft, 2 Ft, 1 Ft
Prices
The price of commodities is about the same (or up to 10-20% lower) as it is in the USA or in Western-Europe, services cost significantly less (up to 50% or more less). The gap tends to narrow as Hungary is likely to join the European Union within some years. At shops there must always be a price label on or near each commoditiy and the price must include VAT (Value Added Tax). The prices of services always have to be told or made visible to the customer before he would place an order for them and they must include VAT.
Tipping & Service Charges
Tipping is about the same as in Western-Europe. The tip is usually 10-15%. Depending on the amount and your satisfaction it may be less or more, too. Tips are given to waiters, taxi drivers, hotel porters, receptionists if they do a special service for you, what doesn’t belong to the basic scope of their activity, car washers (except for machine washing), hairdressers, in beauty parlours, at not self-service petrol stations (100-200 Ft). As a general rule, it is not usual to give a tip anywhere, where there is a cash point. No tips are given to dentists, doctors at private hospitals, at shops, self-catering establishments, hire companies, in public institutions.
There is no service charge beyond the room rate at hotels (some exceptions might occure in some high-class hotels) and no service charge is included in the restaurant bills either (there are some exceptions, but it’s not typical Hungarian).