To exchange money in Prague, you have several options available. Here are some common methods:
- Currency Exchange Offices: Currency exchange offices, known as “směnárna” in Czech, can be found throughout Prague, particularly in tourist areas. Look for signs displaying “Exchange” or “Směnárna.” It’s advisable to compare exchange rates and fees at different offices before making a transaction. Be cautious of any hidden fees or unfavorable rates. Some well-known exchange offices in Prague include Exchange, Exchange.cz, and AAA Change.
- Banks: Banks in Prague also provide currency exchange services. While their rates may be competitive, keep in mind that banks usually charge higher fees compared to specialized exchange offices. It’s a good idea to check with your bank beforehand to see if they have any partnerships or branches in Prague that offer favorable rates.
- ATMs: ATMs (Automated Teller Machines) are widely available throughout Prague. Using an ATM is a convenient way to withdraw Czech koruna (CZK) directly from your bank account. However, be aware that your home bank may charge fees for international ATM withdrawals, so it’s best to check with them beforehand. Additionally, some ATMs may offer the option to withdraw money in your home currency, but be cautious as the exchange rates may not be favorable.
- Credit Cards: Credit cards are widely accepted in hotels, restaurants, shops, and tourist areas in Prague. However, it’s recommended to inform your bank about your travel plans in advance to avoid any issues with card usage. While credit cards are convenient for larger purchases, it’s still a good idea to carry some cash for smaller establishments or places that may not accept cards.
- Online Currency Exchange Services: Online currency exchange services, such as TransferWise or Revolut, allow you to exchange money digitally at competitive rates. These services often offer a convenient and transparent way to convert currency. However, note that you may need an internet connection and a local bank account to access the converted funds.
When exchanging money in Prague, be mindful of potential scams or individuals offering suspiciously favorable rates on the street. It’s advisable to use reputable establishments and check the current exchange rates to ensure you receive a fair deal.