Currency and Money Tips in Bratislava - Stag Prague
Prague Currency & Money Tips
Free advice from us so your stag weekend in Prague is without any hassle!
The official currency of the Czech Republic is the Czech crown (koruna), abbreviated as Kč, with the international abbreviation CZK. 1 crown consists of 100 hellers (haléų), abbreviated as hal. Heller coins have not been in use as of September 1, 2008, but hellers are still incorporated into merchandise prices. The final price is always rounded off to the nearest crown value.
Coins: 1Kč, 2Kč, 5Kč, 10Kč, 20Kč, 50Kč
Banknotes: 50 Kč, 100 Kč, 200 Kč, 500 Kč, 1000 Kč, 2000 Kč, 5000 Kč
As the official currency, the Czech crown is the best and often the only possible currency to use when paying. Although the Czech Republic is part of the European Union, the euro is not widely accepted here yet. It has slowly been preparing itself for its transition to the euro, which is expected to happen around 2010. Some stores, restaurants and hotels accept payments in euros but the exchange rate may not be very good.
Avoid the many private exchange booths (smģnárna) in central Prague. Attractive-looking exchange rates can turn out to be 'sell' instead of 'buy' rates and possibly a worse rate can apply to smaller transactions. Read the small print and first verify the exact amount you will receive before parting with any money.
||1 British pound:
||(1Kc = 0.036 GBP)
You can of course withdraw your money using your international payment card. There are many banks in the Czech Republic that operate ATMs. ATMs commonly recognize most card types (Visa, MasterCard, Plus, Cirrus and other). However, you can get a better price if paying directly with your card. In particular, in Prague, nearly every shop, restaurant and hotel accepts cards.
Traveler's checks are undoubtedly a safe way of transporting funds. If you are a customer of Thomas Cook or Visa, you will have no problems cashing your traveler's checks at Czech banks. Eurocheque is also accepted.
Banking hours: Mon-Fri 08.00-16.30, with some banks closing earlier on Fridays.
Main banks: Komerční banka, Česká spoųitelna, Československá obchodní banka (ČSOB) and ivnostenská banka.
The Czech banks are the best for exchanging cash. Commissions vary between branches, but the normal commission for a 50Kč minimum is 2%. The banks also offer cash advances on Visa and MasterCard without commission.
Cost of living in Prague
Food and drink in ordinary shops and restaurants in Prague is generally cheaper than in Western Europe. Beer and wine in ordinary pubs is markedly cheaper. Clothes and other consumer goods have similar prices.