Foreign currency unused due to COVId illness

Ashlynn

Cancelled trip to Budapest due to testing +ve to COVId and being unwell . Now have £700 worth of Hungarian currency  which I need to exchange for GBP or USD. Any advice most welcome 

silvercar

Are you intending rescheduling your trip? In which case it may be worth holding on to it. Otherwise it is a question of monitoring the exchange rate and comparing deals on offer. A good starting point would be here: https://travelmoney.moneysavingexpert.com/

and choosing the "buyback" tab.

Ashlynn

Thank you for reply . Honestly not sure when we will be able to reschedule. Wondering whether exchanging Hungarian forint to USD worth trying as hoping to travel to US June. Not sure if or how I can do this? 

bagand96

Ashlynn said:

Thank you for reply . Honestly not sure when we will be able to reschedule. Wondering whether exchanging Hungarian forint to USD worth trying as hoping to travel to US June. Not sure if or how I can do this? 

It would be unlikely to be a good option to do this in the UK because you'll be hit by the bank/exchange company's markup twice.

They would first convert the Forints into GBP at a rate favourable to them. They'd then sell you USD from GBP at a rate favourable to them.

Taking the Forints to the US and converting there would be an option but I've no idea what sort of commission or rate mark ups you'd see there.

If you really have no use for the Forints then just convert them back to GBP.

400ixl

If you change them back you could then avoid changing to dollars as cash and just use a debit or credit which gives you the best exchange rate and no fees at the time. You could even with a Chase debit card get £700 out in cash with no ATM fee in the US if you must use cash.

Equally if you then don't go you aren't stuck with yet more currency you can't use.