Cheapest is to withdraw money from an ATM, as there’s no charge or commission (except if your bank imposes some charge, some bank charge around 1.5% for using your card overseas). You can also get a cash advance at major banks and exchange offices (banks usually charge 2% commission). Most private exchange offices in Prague charge commission of up to 10% and they will advertise higher exchange rates hoping customers will not realize there is a high commission fee. Some exchange offices advertising 'No Commission' are as well poor place to change money and the no commission policy only applies if you're changing large amounts of money. You can negotiate commission at any exchange office. Generally it depends on the amount you are exchanging and stuff is willing to lower commission down to 3% (if you not lucky enough to be rich, always ask for commission reduction, it really works!). Bureaux de change is probably the most useful if you need money at the weekend or outside of normal business hours - otherwise we do not recommend them. Hotels and souvenirs shops usually charge around 5% to 6% commission. And last advice: never change money on the street, there has been several cases where customers received counterfeit notes.

Approximate Exchange Rate:
1 EUR = 24,00 CZK; 1 USD = 18 CZK; 1 GBP = 30 CZK


Best Exchange office in Prague? If you're looking for best exchange rates without any commission there are a few companies offering really “best possible rates”, one of them is company called www.exchange.cz
They are located at Kaprova 13 St., Prague 1 (very close to the Old Town Sq.) If you're exchanging amount over 100.000 CZK they give you even special VIP rate.

Czech currency.
The monetary unit of the Czech Republic is the Koruna česká (Kč) –or Czech crown – which is divided into 100 heller. There are heller coins. Coins are only in nominations of 1, 2, 5, 10, 20 and 50 crowns. Banknotes come in 20, 50, 100, 200, 500, 1,000 and 5,000 crowns.

Currencies Accepted.
Official currency is Ceska Kornua (Czech Crown). Most stores (also small ones), shops and  accept credit and debit cards. Selected department stores and restaurants will accept Euros but exchange rate won't be too good.

Exchange Money Scams: Prague is known for its beauty, and unfortunately, its petty crime. On Tuesday I was rushing down Wenceslas Square as I do every day, and as I was about to descend a staircase into the subway system, I turned around to see a man handing another a wad of cash, and the tourist saying a gracious "thank-you." It happened right in front of my eyes: an illegal money exchange made on the edge of Wenceslas Square ...

The export and import of valid Czech currency is permitted without authorization from the Czech National Bank to the amount of CZK 350.000,- there are no restrictions on an export and import of foreign currency.

Banking in Prague.
Banks in Prague can be found by visiting the website of the Czech National Bank, while a popular local bank is Ceska Sporitelna (which has an "Expat Center" at Rytyrska 29) and Komercní banka.