Getting and Using Czech Currency

Czech currency is easy to spend when you're not use to it. It can have that very foreign "play money" feel to it - or so we've heard.

We thought it might be useful to get a few answers and tips about using the local currency.

Getting Czech Currency

What, No Euros?!

Arriving Without Local Cash

Budget Tips

The Basics

First off, euros are NOT widely accepted in Czech Republic. The official currency is known as koruna česká which simply means Czech crown.

It's easiest just to say Czech crowns when you're visiting. Although you can also use the term Czech koruna. Both are understandable to Czechs.

Most payments you make will likely be in cash. Credit cards are increasingly accepted, but certainly not everywhere. It's always best to ask if a business takes credit cards before paying.

Getting Czech Currency

The best way to do this is through a cash machine. Cashmachines have lower fees and won't confuse you. There are machines at the airport and train stations - and everywhere in the city center. Of course, you should check with your bank regarding limits and fees.

I suggest avoiding exchange offices if you can. They have high fees and can be confusing. Their store windows post rates that seem attractive but are often misleading. I've seen countless tourists completely confused and angry after exchanging money in such offices.

If you must exchange cash, go to a bank. Here you will be charged a small commission but the exchange rates will be accurate. If there's no bank, use the exchange office for a small amount until you can get to a bank or cash machine.

No Euros?!

Sorry, we don't use euros yet. But, an increasing numberof retail stores accept euros as well as most hotels and apartment rentals. The euro may be adopted around 2015. But, there's still lots of debate about how and when to do this.

Many places of accommodation will accept euros and sometimes dollars and British pounds. Ask when you are booking what the accommodation prefers. Many apartment rentals prefer cash payments and will gladly accept euros.

Arrive Without Czech Currency

I know this might sound strange, but I often suggestgoing straight to your accommodation before getting any local money. It's easy. Just book an arrival transfer through your accommodation.

Most hotels and apartments can arrange a transfer for you. This way you can worry about money after you get settled. If you need to pay upon arrival, ask your accommodation where the nearest cash machine is - you'll need to know anyways.

A transfer will cost you a little more in the end. But it's worth it especially after a long flight or train ride.

If your budget doesn't allow for an arrival transfer, then use Prague metro. You can get money from a cash machine in the airport or train station. But, the cash machine won't give coins. And, often the bus driver won't have change for the big bills that the machine dispenses. To get coins, you'll have to use an exchange office. And, that's where you'll lose money. Just exchange as little as possible. Then use a cash machine in the city to get more money for your stay.

It's also smart to arrive with a bit of your country's cash or at least a few euros. Euros are the most preferred after Czech crowns.

Budget Tips

A few friendly tips for saving money while here:

• Tip modestly. Czechs don't tip like people in the U.S. or other western countries. If the bill is under 100 crowns just round up to the next 10. Otherwise, a 10% tip is usually plenty.

• Watch for pickpockets! Crowded areas are a good spot to lose your money.
Carry only the cash you need. It's tempting to carry a lot of cash especially when it might appear to be play money.

•Use cash machines to get money. And, never exchange money with someone on the street.

• Traveler's checks, bank checks and money orders are absolutely NOT acceptable. You might find a rare place that accepts traveler's checks, so they are really not worth the bother.

• Visit Prague in the winter. Deals are everywhere in the winter (aside from the holidays). Hotels are largely empty in November and February and offer lots of Last Minute deals.

• Share expenses with friends and family. You can save a lot of money by booking an apartment over individual hotel rooms.

• Use AAA Taxis. These yellow taxis are everywhere in Prague and are the most reliable. It's still best to get an estimate before getting in any taxi. And, make sure the driver uses the meter.

Czech Currency vs. Major Currencies

Czech currency has been relatively stable and robustin recent years. But, as the worldwide recession plays out, the Czech economy is beginning to slide as well. All-time highs against the dollar and euro in 2008 are now receding a bit. And, the British pound continues to struggle dropping to all-time lows.

In general it's still fairly cheap to visit Prague. And 2009 should provide a stronger euro and dollar for travelers. The Czech government is particularly intent on maintaining a stable currency especially in regards to the euro. They would like the euro to maintain a regular rate of 26-30 CZK/euro.

When You Return from Prague...

We would love to hear your stories about how you spent orsaved money in Prague. Did the Czech currency confuse you? Did you spend more money than you expected or did you find Prague fairly cheap? Contact us with your thoughts so I can share with other readers.

If you have any questions regarding this policy or anything at all, please complete this form and we will respond as soon as possible. Thanks.