Euros or Local Currency??

Old Mar 19th, 2014, 07:48 AM
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Euros or Local Currency??

We will be in the Czech Republic in May. Both places we will be staying quoted rates in euros and both said they would take either euros or Czech korunas, my choice. Do atm's over there give either euros or local currency? We will getting all our cash from the atm's. We will be going other places in Eastern Europe after CZR but most of them aren't on the euro either. I need some advice, please!
pegtrav is offline  
Old Mar 19th, 2014, 07:51 AM
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Use the local currency. If they take euros, you can pretty much be sure they're charging a fee for that - they have to pay their bank a fee to deposit anything but the local currency.
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Old Mar 19th, 2014, 08:30 AM
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When I was there 2 years ago, ATM's were dispensing koruna only. I suppose it's possible but I've never seen an ATM give out anything but local currency anywhere.
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Old Mar 19th, 2014, 08:33 AM
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I would not ever consider using anything but local currency.

I don't remember if the ATMs give Euros as I was not looking for that but I doubt it. If you convert to Euros and then to CZK you are doing a double transaction and it will cost you more.

In lots of places you can pay with your own currency but will take a huge hit on the exchange rate.
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Old Mar 19th, 2014, 08:43 AM
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use local currency,loads of ATM's around.i travel to Prague several times a year (next visit late May)the hotel I use prefers Czech cuurency and offers a 3% discount for cash,so worth asking if they do that.
it really is not worthwhile buying euros and having to change them everywhere you go so just use the ATM's in the various countries and try and use the local currency up when you leave
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Old Mar 19th, 2014, 08:43 AM
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To clarify - when I said "your own currency" I meant any currency other than that of the country you're visiting - USD, Euro, CAD, Zloty, GBP, etc. Merchants/hoteliers/restauranteurs are not banks and can set any exchange rate they want.

An example: You go into a shop to buy an umbrella which costs 200CZK (about 10 USD) and pay with Euros. The merchant can use an exchange rate whereby you pay the equivalent of 400CZK once converted. It will cost the merchant some money to exchange the Euros (or whatever currency) plus he'll want to make a nice profit from people who can't be bothered to go to an ATM.
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Old Mar 19th, 2014, 03:00 PM
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Many reservation services quote rates in many currencies But the hotels will want to be paid in their local currencies. And if you're paying by credit card, it's going to be in their money--transposed into Euro or U.S. Dollar or whatever currency your home bank is based on.
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Old Mar 26th, 2014, 01:06 PM
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And always decline if a restaurant or hotel offers to charge to your credit card in your home currency. Same as above; it will cost you more than to keep in in the currency of the country you are in at the time.
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