Which money are they using now
 

Hi, I just found out that CZ Republic isn't using the Euro yet. Even tho they sign up for it. Is this true? We are leaving for Prague tomorrow. Thanks Valerie

They use Czech crowns (koruna).

CZ have just joined the EU. They are using the Czeck crowns and like UK I doubt if they will be using the Euro for a few years yet.

Enjoy Prague

Muck

Make yourself a cheatsheet at: http://www.oanda.com/convert/cheatsheet

Hello, Valerie. I am travelling to Prague in July. How about posting a mini trip report when you return? Much obliged.

I have contacted many agencies in Prague this past week, and they have all been quoting me prices in korunas.

Cheers, John G.

CZ, as well as many other new "EU" countries, won't be using Euros for at least 3 or 4 years.

Last summer when we were there, the people were looking forward to enlargement of the EU, but predicted that things will become more expensive -- the CZ was so inexpensive last year - so I'd be interested in knowing how prices compare. They were also predicting it would be years before they switched currency.

Hi,

I am also going to Prague soon. Is it necessary to exchange money into kroners before I get there? Or can I just wait till I arrive there, and then exchange Euros into Kroners?

It isn't "kroners", it is koruna. That isn't as common a currency as GBP or euro, so it may even be difficult for you to get them abroad or you will pay a big premium. There's no reason to, there are plenty of exchange bureaus and an ATM at the airport. Even if you can't use the ATM for some reason, you'll get a better deal on exchange there, even at the airport, than another country, I'll bet. Currency exchange is actually fairly cheap in Prague compared to many countries.

There are 3 ATM's in the airport by Exit D, you can exchange money too but the rates are not very good. The exchange offices in Prague are not regulated and chances are you will be very unhappy if you change money in any of them! Use a bank or over the weekend American Express, There are ATM's everywhere in Prague and are very easy to use.

surely just using the credit card for everything gives you the best exchange rates?????

I would say that in nearly all cases, it is better to withdrawal money from an ATM machine using your bank card than to use the credit card, since the transaction costs with a credit card are generally higher (i.e. about a 3% 'conversion' fee just to pad the cc co's wallets).

Depends on which bank issues your credit card. There is a standard 1% fee charged by Visa and Mastercard. Then the issuing bank can add another 1 or 2% if it so desires. Some add nothing, others add up to 2%.

We were in Prague this past month. We discovered that the Euro is accepted at a lot of places, which surprised us. We used ATMs to get CZK, for the most part, but in a pinch we could use the Euros we had, too. We got around the extra bank fee for credit card use by shopping around before we left the states and getting a Visa card expressly for the trip, through our Bellco credit union, because they don't tack on that extra 2 or 3 percent. I'm glad I went to the trouble, as that extra percent adds up when you pay for meals and hotel rooms with a credit card, like we did. (I think MBNA doesn't charge the extra fee, either.) We didn't have any problem with any establishments in Prague not accepting the Visa, either.