chestnut

What should I know about money in Prague? Never been to Eastern Europe so I am a complete novice regarding money and would appreciate any help, advice, etc. Thank you.

adrienne

What's to know? The currency is the Czech Koruna. It works the same as money anywhere.

I think you should explain what your confusion is.

Cali

We had no trouble getting Korunas with our debit card. Do go to the bank to do it tho, don't use the money changing places on the street.

unclegus

first point Prague is central Europe and further west than Vienna.
Use Czech Crown (Koruna Kc).I travel tpo the Czech republic on a regular basis (will be there this time next week) and I use ATM's whenever I need cash and have no problems whatsoever.I always let my bank know when I am travelling and they make sure my cards will be valid.
If chaging cash do so at banks or check very carefully the rates being offered at exchange booths they are very seldom what they seem.If using travellers cheques start crying now as you will lose out a lot on exchange rates as TC are almost obsolete in Europe these days.

kappa1

> check very carefully the rates being offered at exchange booths they are very seldom what they seem ..

To elaborate, the seemingly good rates shown in front of the booths are, for exmaple, for when you exchange a big amount like from €1000 so rarely applicable for most who want just a small amount. If you really have to use those booths, ask how much you would get before giving them your money.

The basic is, AVOID those exchange booths. There seem to be few exceptions. There is one near the Old Town Square. DE ("detination experts") on TA forum recommends but even there you need to change at least €100 if I understand correct what are posted on the TA forum. So for no rip-off, use atm as said above.

christycruz

If you are arriving by plane, simply use the ATM in the airport. Was a very nice airport as I remember.

The best traveling tip I ever got was: don't be in a big hurry to leave the airport/train station upon arrival. Look around. Gather some maps and ask questions. Think about your departure and what you need to know about that. An extra fifteen minutes at this point can help you later.

MLF611

Just a reminder: unless you are planning future trips to Prague (or know someone else who's going), try to use up your coins before you leave. After leaving the country, you can still exchange notes (although you probably won't get a good rate), but coins are tough to exchange.

JeremyinFrance

At the airport there is a charity collection bowl where you can put your coins (and notes if you are generous). The Czech government has resisted joining the Euro and still have some very attractive bank notes.
http://www.jeremytaylor.eu/prague_photos.html

bilboburgler

Its worth walking around the airport as you can also find the local bus to the tram system and buy a week's ticket before you start the visit.

november_moon

How widely accepted are credit cards in Prague?

Christina

They are very widely accepted, I can't remember any place not taking them where I wanted to use them. I don't usually use a CC for a restaurant meal less than 10 euro, so can't say about that.

I've exchanged TCs in Prague and don't agree with all these dire warnings (I suppose cash would be similar rates). In fact, the rates in Prague were much better than in a lot of other European cities. I think I used the Amex office just over the bridge once, as they had pretty good rates, and I used one in the airport which also was pretty good. That was Thomas Cooks which is now Travelex. True, I did this a few years ago as I mainly use ATM cards now, but I don't see why the whole business would have changed so that they used to give good rates and now don't. In fact, I would think they'd have to be more competitive now as there isn't as much business. I never used a bank. I do know math BTW as I have a master's in statistics, so I know what the rates and fees really were.

I don't even know if banks will do that in Prague, they don't in a lot of places, and it isn't very convenient, often.

I think the ones in Old Town square aren't quite a good as the ones I used. Generally, at the airport, don't use the first ones you see, that's one tip.

nytraveler

Credit cards are accepted anyplace you would expect them to be (not at a news stand or to by an ice cream cone - but other than that Visa and MC are accepted almost everywhere - and AmEx at most larger stores and restaurants.

To get best rate of exchange 1) buy all you can with CCs and 2) pull walking around money from an ATM - the card linked to your checking account.

Otherwise - money is money.

And Czech republic is central europe (eastern is Russia, Ukraine et al).

kappa1

> I think the ones in Old Town square aren't quite a good as the ones I used.

I didn't said the "oneS IN old town square" but wrote "one near", it's located in a sort of triangle place and not a booth and you need to enter the building. The oneS in the square are as bad, if not worse, as any other booths in the central area of Prague.

> I don't even know if banks will do that in Prague,

They do. You don't seem to know about that. I have done it at a couple of banks that also had ATM outside. When I had problme with my card, they did it for me without fuss.

> I do know math BTW as I have a master's in statistics, so I know what the rates and fees really were.

Huh? It doesn't matter what degrees you have. You have used only Amex and only once. Me and unclegus (who is more frequent traveller to Prague than I am, and of course than you are) are talking about the "good" rates shown at the booths (there is one you see ofthe the same, Interpoint or something) that don't apply in reality.

The rip-off at these booths in Prague has been known since a long time in any case. Still non informed tourists that flood the city use these booths on their one time visit so this rip-off business goes on.

bilboburgler

yep leave the booths alone and use the ATMs. Just tell your bank you are going (probably best to tell them by email, letter and letter to the president 'cause they may still forget)

Cali

We also told our bank where we were going and for how long and then we used ATM's that were outside or inside banks. It was easy and the exchange was fair.

unclegus

A tipwhen using the ATM's is to take out an odd number of Kc.
ie 2,900,or 3,900 that way you get some smaller notes 100,200 and 500.just makes life easier.
I still hold by the fact that traveller Cheques in Europe are almost obsolete and should be avoided if at all possible,plenty of cheaper and safer alternatives available.