There are multiple shops in Hungary which use only euro prices, which breaks the relevant laws. A reader of 24.hu bought earrings in the Etele mall, 11th district of Budapest, in an Australian jewellery shop, Lovisa. She found its price only in euros, but at the cashier’s desk, she realised the company calculates with a brutally high forint/euro exchange rate. Here is what you should know about such issues.
According to 24.hu, one of their readers bought earrings in the Australian-owned Lovisa jewellery shop in Budapest’s Etele mall. However, on the price tag, she found only a euro price. She calculated 400 HUF/EUR, which is realistic since shops regularly use a higher exchange rate than the official. The latter is around 372/EUR at the moment.
However, at the cashier’s desk, the shop assistant told her she must pay HUF 5,295 for the earrings even though they cost only EUR 11. That means the shop calculated a 481/EUR exchange rate, which is brutally high. The forint has never dropped that low against the EU’s national currency. The historic high was around 435/EUR last year.
Interestingly, on the invoice she received after the purchase, the price was only in forint. She asked around the shop how they calculated the HUF price but received no answer. According to the shop assistant, the HUF price tag fell off, but she saw no price tags on the ground. After checking out some other products, she realised that there were many tags without a HUF price. HERE you can check out some photos she made about the products. In some cases, there is a HUF price, while in other cases, there is not.
Marking the prices only in foreign currencies is illegal in Hungary
She wanted to talk with the manager but received no contact and could not find the company’s phone number or email address. The mall could not help her out with that either. Therefore, she reported the case to the consumer protection authority.
According to 24.hu, that is not the only shop in Budapest or Hungary which do not use HUF prices. Budapest’s consumer protection agency confirmed that, in Hungary, pricing in HUF is compulsory. The shop must indicate the sale price and the unit price in forint. That rule applies to the service fee, too. If a shop allows customers to pay in other currencies, they must mark the exchange rate visibly.
Interestingly, a shop does not need a phone number, email address or Hungarian website in Hungary. However, they have to mark their name and seat visibly. That practice makes it difficult for the customers to file a complaint.
Lovisa has not replied to 24.hu’s questions concerning the issue.
Restaurants try that on ALSO.
Hungarians are dishonest by nature, it’s in their genes.
It was commented to me in recent times that Hungarians – there dishonesty in the work place, is a DNA of how much that can exploit ripped off – their boss and company.
Mind you, in the 13 years that Orban and his MOB, have been in Government in Hungary, what an EXAMPLE in the “rip off” game they CONTINUE to be.
The European Union caught them out which under Legal Judgement, handed down by the Court of Justice of the European Union, simple DISPLAYED there DISHONESTY.
this is where the EU falls down. Too busy with something’s but not doing what is was originally set up to. A level playing field and consumer protection should be paramount. The same products here are inferior to those in France, the UK and Germany. Often more expensive too.
Speaking of dubious business dealings… Those Euronet cash machines that are popping up, everywhere in Budapest:
Basic charges – high. Exchange rates – poor. Additional bank charges – quite possible. User beware!
SO much nonsense here, in some of the comments… It physically hurts.
Firstly, the E.U.? The E.U. is a total(itarian) racket. Its institutions have failed every financial audit in the past twenty (TWENTY!) years. Hungary is a beacon of honesty, probity, and transparency compared to the Euros.
Secondly, blaming this on Orban. LOL! Desperate. Risible. Sad.
Third, CAVEAT EMPTOR. It’s a principle that goes back more than two THOUSAND years, for a REASON. If you’re not using your brain, you deserve to be ripped off. Sorry, not sorry.
Regarding those A.T.M.s, they’re a disgrace but, again, you’re a fool to use them when you can utilize the A.T.M. of a regular bank for much lower, or no, fees. I use the Wise (formerly TransferWise) debit card, in HUF, and I pay zero fees for purchases, cash withdrawals, etc. I’ve been living in Budapest for months now, using just that card and the virtual bank account that comes along with it to purchase real estate, groceries, set up utilities, get cash, you name it!
The relevant authority/authorities (IF any?!) should investigate, then take the owner/manager, or their representaive, to court, fine them with a very hefty fine of at least 10, 000 Euros, payable in Euros or, better still, in HUF at the same exchange rate as they were using. If the owner claimed he/he couuldn’t pay such a fine, lock down the shop and confiscate goods to the equivalent amount (PLUS costs). 😀 Set an example to others who do the same.
If I were a man, and if I lived in the 18th Century, I’d remove my glove and slap you in face and have you meet me in the park for a duel, and if you were lucky enough to survive, I have no doubt there would be at least another 50 men waiting in line to do the very same to you.