Currency in Eastern Europe

If you try to use euros in HUngary in restaurants they will generally be accepted but at miserable exchange rates. Yes, most restaurants will take cards and i think that is an excellent way to go if your bank, like mine, doesn't have a lot of added charges. ATM cards are a good way to go as well. Just draw cash as you need it. Again my bank treats me pretty good when i do this. Credit card or euro be sure and ask before you order. Have fun!

I just checked a recent Master Card charge in Budapest and my bank gave me 98.5% the midpoint rate for the day. I'm pretty satisfied with that. But you can certainly do better in one of the exchange offices in town. Like everything else you have to shop it a bit before you buy. One last suggestion, have them calculate the conversion and give you a quote before you make an exchange. Some post one rate and then give you a different rate with the excuse, if you even notice, being that the posted rate is for larger or minimum exchanges.

You will do much better with the credit card. The days of folks in eastern European countries like Poland, Hungary and the Czech Republic doing back flips over getting "hard currency" are long gone. Either use the local currency or plastic. Most establishments will accept Euros (bills and not coins) but you will get absolutely hammered on the exchange rate.

I would use local currency rather than credit cards. There are cases in which card numbers are stolen, and since you are a tourist, you have little leverage. Use the ATM and get a large amount of money at a good rate, and pay cash. We used our card last summer with no problem. We restricted the use for purchases, however. We didn't purchase things using the card in small stores. I'd be just a little cautious, without being paranoid.

Hungary is using forint, Poland zloty, Czechoslovakia is now (since 1993) two countries - Czech Republic and Slovakia. Czech Republic is using koruna (crown), Slovakia euro. You will find exchange rates here: http://www.oanda.com
Financially best for you is using local currency which you get from ATM. Then VISA - they charge 1% exchange fee, then MasterCard - they charge 3% exchange fee. Out of the countries you are asking about, Euro is generally accepted only in Slovakia because it is their currency. Otherwise if it is accepted the exchange course is quite bad (for you, not for them). You can pay by credit card in most restaurants in tourist areas.

Both Mastercard and Visa now offer "zero liability protection" for most of their U.S.-based credit cards. Of course check with your own card issuer to see if your card has this and how it works, and if it applies to your overseas transactions. Also, we found that the "dynamic currency conversion" scam is more common in eastern Europe. That's where the vendor asks you if you'd prefer to be charged in your own home currency. Always say "No" if you run into this. If you say "Yes", your exchange rate won't be nearly as good. You always want to be charged in the local currency and let Visa/Mastercard do the conversion.

Double check with you bank about ATM use. We take 2 ATMs just in case. Last fall Wells Fargo refused to allow us to get $$ from the ATM. We called many times at huge cost to resolve thisYes we called ahead to let them know where and when we were traveling and nothing negative was said. Bottom line too much fraud in Eastern Europe, Chase was no problem. We were in Romania.

I have used my Bank of America ATM, MC and AMEX in The Czech Rep, Austria, Bulgaria, Romania, Hungary, Slovakia, most of Western Europe, South Africa, Egypt, Latin America all with out issue and with very good exchange rates and little or no fees. Happy Trails

I have used my Bank of America ATM, MC and AMEX in The Czech Rep, Austria, Bulgaria, Romania, Hungary, Slovakia, most of Western Europe, South Africa, Egypt, Latin America all with out issue and with very good exchange rates and little or no fees. Happy Trails

Currencies haves moved favorably against the dollar. I had zero problem using ATM in each country and getting best rates for the cash. By paying cash a lot, i could get better dels and minimized transaction charges every time up I used cards. We had no problems in all countries visited...Poland, hngary, Austria (euro) and Czech rep.