Money in Prague
 

I will be arriving in Prague by train in July. I've read that it's very important to exchange your money at a valid place (like a bank) and make sure you don't get charged a lot extra just for the service of exchange. Can anyone suggest some good places to exchange money around the city and tell me where they are? Thanks.

They're everywhere; no problem finding an ATM either. What you may have heard - - and you will see signs about this at the legitimate money change places - - is that you may get approached with a "deal" by con artists who will offer you Bulgarian money which closely ressembles Czeck koruny to the unaware. Worth only a small fraction (or worthless), in comparison to authentic Czech money.

Best wishes,

Rex

does anyone know when Czexch repulic converts to Euro?

degruzew: Since the Czechs voted overwhelming to join the EU, it's goodbye Koruna hello Euro. I believe it will take effect next May.

Isabel5: We used ATMs almost exclusively on our recent trip. We did an exchange at the hotel (I know dumb; very poor exchange) when we were in a pinch. You won't have any trouble finding a bank if that's what you prefer.

change money only in banks, not even in exchange bureaux, they have bad rates and/or high commissions. As far as the Euro, IMO it will be some time before it is used. The UK still does not use it.

It is best to use ATM. You get the best exchange rate. So try to find the bank in US that doesn't charge the fee if you withdraw money from other banks'ATM. We have Technology Credit Union's account and they don't charge the fee. We exclusively used the ATM in Prague. ATMs are everywhere. Banks, airport or other money exchange places didn't give that good rate.
There are many guys on Prage streets that will come to ask you if you want to exchange money with them. Don't ever exchange money with them, our pension's manager warned us about them since the first day. Those people are pretty much con-artists.

As wonderful as Prague is, don't be surprised when you arrive by train, especially at Holesovice, if you are acosted by folks wanting to help you with hotel reservations and the like. In my experience a polite, but firm "No Thank You" (in English is fine because they'll be speaking it, too) works well.
I agree that ATMs are the best way to change your money and they are abundant throughout the city. I'd beware of some of the cabs, though, since some feel they are the most corrupt in Europe (an opinion, obviously)...agree to a price in advance, if possible. Trams are a great way to get around in that city. Enjoy!

I totally agreed that the tourists should be cautious about the taxi drivers in Prague. Although, most taxis use meter, some don't. Before taking taxi somewhere, you should ask people at the hotel/pension about the taxi price in advance. Then before entering the taxi or put in your luggage, ask the taxi driver again how much roughly it will cost. In other words, be street-smart. Prague taxi drivers are quite notorious about ripping the tourists off.

It did happen to us. We were going to the train station from our pension. Fortunately we asked our hostess in the pension in advance how much it would cost by taxi from there to the train station. She told us it was around 150 Kc. When we asked the taxi driver who came to pick us up at the pension about the price, he said it was 400 Kc. So my boyfriend told him that it should have been around 150 Kc. The taxi driver immediately showed that he was mad and argued with us saying that we were wrong, 400Kc was standard. Then he slammed the door and drove off with out us. So we tried to call another taxi. The second taxi came and we asked for the price again, this time the taxi driver said around 150Kc -160Kc. So we were right not going with the first one.

We totally learned our lesson that being a street-smart does help.

Another thing is that, you should use taxi with a company name written on the door. I believe it's 'AAA' company or something like that. Don't use the private taxi that doesn't have the company name on the door.

Hi,

I read somewhere that the ATMS at certain countries only accept 4 digit PIN number, is this true ? Mine is 5 digit, wonders whether can it be use.

To euro or not to euro - that is the question!

Believe that for an EU country to use Euros, it has to sign a certain treaty or convention to do. Three of the EU members did not, Great Britain, Denmark and one other. Also believe that the Czech Republic will convert to Euros in 2004 when it becomes an EU member.

If you have to change money at a bank, change as much as you can, since there is a transaction fee each time you do an exchange.

Exercise ordinary common sense and some street smarts as some of the posters here and you'll be OK. Have fun! Prague is a terrific city!

I have heard this week that it may be as late as 2009 - 2010 for the Euro!