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Exchange offices to run out of money?

Some money exchanging offices might run out of currencies due to increased demand, online news portal napi.hu reports. At the same time, illegal or semi-legal offices are back in operation, the portal says.

Money exchange offices have experienced increased demand over the last few days and some of them might face problems especially when it comes to currencies of countries like Romania, Serbia, Croatia, the Czech Republic, Russia and Bulgaria, the National Association of Hungarian Money Exchangers (MPOE) said in a statement.

Illegal money exchangers have again appeared on the streets, and offices without permission from financial supervisor PSzÁF are also spreading, Zoltán Kósa, chairman of the association, told napi.hu.

Those choosing to exchange their currency on the street can be victims of crime, and authorities can also fine clients solicting unathorized businesses,  the MPOE warned. When abroad, one should pay increased attention to such illegal money exchangers, as legislation might be stricter than in Hungary, Kósa added. He suggested buying currency of the target country in Hungary.

 

According to MPOE, those who want to exchange more than HUF 200,000 – 300,000 should register at the given money exchange office in advance in order to make things faster.

 

To avoid being scammed, it is important to pay attention to the PSzÁF permission that is supposed to be visibly placed in the given office, the MPOE says. (napi.hu)