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ATM in budapest

Dallas, Texas
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ATM in budapest
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As an American with a Bank of America atm card, is it easy to withdraw local currency from atm machines in Budapest?

Are there any you know that might be associated with B of A in order for me to save on bank fees?

Matthews, North...
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1. Re: ATM in budapest
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You should probably check with your bank on whether they have any association with particular banks or ATM networks in Budapest. But it's definitely easy to get local currency using a US ATM card.

The main thing to watch out for is the ATM offering to make the currency exchange for you. If that option is offered, decline and let your own bank do it.

Dallas, Texas
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Thank you!

Budapest, Budapest...
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Also, try to use an ATM that’s associated with a bank — those tend to be less pushy about using their conversion rate (which is where they make the money). Independent blue & yellow Euronet ATMs are really hardcore at this, so avoid those.

Chicago, Illinois
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A bank ATM will charge you no fees. It will offer you to convert at a known (poor) conversion rate. Choose the unknown rate by your CC company.

I expect boa will charge you a $5 fee per withdrawal plus a 3% currency conversion fee. There are no partner banks in Hungary (and methinks there are no partner banks anywhere)

Katy, Texas
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If you Google "Top 11 Bank Accounts for avoiding ATM fees the Points Guy", you will get the list of banks. I don't see BoA mentioned so not sure.

What you will see is the Euronet ATM machines around every few blocks. We used the Euronet ATM to withdraw 80,000 HUF and it costed us only 920 HUF transaction fee (about 1%) and it exchanged them at the bank rate. We used our Wellsfargo debit card and the bank charged us $5 fee. In all, 80,000 HUF costs us $292 ($287 + $5) for a real cost of a little than 3% based on today exchange rate.

That 80,000 lasted us (4 people) 3 days to buy breakfast, drinks, etc.. and small gift items. For lunch and dinner, we used our credit cards.

You might already know this, but whatever you do, do NOT use a credit card to withdraw cash advances. Good luck ...

Phoenix, Arizona
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I have an Debit card from Wells Fargo and I pay a 5 dollar per transaction fee at an ATM. As was stated use a bank owned ATM. My partner has a B of A debit card and she pays a 5 dollar fee and a percentage of her transaction probably 3% charged by B of A. I have never with my Wells card had to choose between the party making the conversion however my partner says with her B of A card she has to choose which bank does the conversion and she always chooses HUF, local currency. Wells Fargo always allows local currency conversion.

Chicago, Illinois
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Euronet ATMs are discouraged due to the following 1) fee 2) they are persistent about letting them make the conversion at a 10% loss and while you can also be persistent, if you mess up, you lose 3) bank ATMs are for many reasons more secure. That does not mean euronet is insecure.

There are so many bank branches, it really isn't necessary to use euronet, but if you find yourself needing to.use a euronet one (including if you are uncomfortable leaving the airport.without cash) http://be.careful.of your selections and you'll be just fine.

Chicago, Illinois
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Options for conversion have nothing to do with your bank as Greyhound suggests (he always misunderstands these banking things). it is a "service" offered by the point of sale system (ie the credit card machine) on how to present the charge to the credit card network as a huf or dollar transaction. Always decline the service and present the transaction as a huf transaction.

At best, the service costs the same as your boa 3% fee. At worst, the "service" can cost up to 10%

I've spent most of my career.working in financial services...much of it at banks.

Edited: 5 years ago
Orange County...
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I have a chase ATM and after I come back from a trip with an ATM transaction and $5 fee + 3% charge, I call the 800 # and ask to reverse the charges. Worked 2x this year with Chase :)

New York City, New...
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So is it better to just take money out of the ATM with your debit card or instead bring cash and exchange it for HUFF once you are in Hungary?

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