Prague & changing currency

brianp20

Can anyone tell me which is cheapest, change my euros to czech money before I go or use my bank of Ireland visa debit card at atm's while I'm there?

I'd really appreciate a knowledgeable answer.

Thanks.

wp_rathead

Buy some Koronas before you go if I were you

Enjoy Prague btw, is my fav city I have ever visited

goz83

I would say you're better off bringing whatever cash you need and use your card only if necessary. Can get expensive if you're using it for every transaction. Cross border handling fees and all that.

I usually bring what I need in cash and then withdraw money from ATM in the country if I need extra.

CrinkElite

I found Travelers checks were the handiest and their fairly secure. You can cash them all over the city.

We got them in hundreds of euro and I think we only ended up paying €1-2 on each one.

Deise Vu

CrinkElite wrote: »

I found Travelers checks were the handiest and their fairly secure. You can cash them all over the city.

We got them in hundreds of euro and I think we only ended up paying €1-2 on each one.

I have a friend in Prague whom I visit every couple of years. He says to avoid Bureau De Change like the plague and just use ATMs or credit card. The B De C advertise no commission and apparently great rates but the small print is only if you are changing a large € sum. They then proceed to rip you off if you are changing a few hundred.

I can't vouch for this personally but the friend is there over 10 years.

If you are worried about small FX rate differences, avoid drinking in any Irish / Engerlish bars. You'll get your money back after one pint in a Czech local. While I'm on the subject you should avoid Irish / Engerlish bars... period.

tomfoolery60

From my experience it's generally more cost effective to take money out while over there but to make one or two big withdrawals (like >€150) to minimize the fixed minimum charges that all the banks levy when making a foreign transaction. You will generally get a good FX rate and then get charged something like 3% that way. With an exchange broker you might well get a worse rate and pay a couple % in commission too.

If you can afford it pre-loading your credit card (i.e. so that the card company owes you) and then taking out money abroad is even more cost effective. Or at least with my bank (works out <2% transaction charge with the same good FX rate versus 3%-ish with my ATM card).

MadsL

If you have Visa Debit card you can use it for transactions just as you do in Ireland. Just don't try to use it in the local pubs. Great places to eat by the way - ask for the menu Jídelní lístek, prosím (YE DEL Nee LIST TECH PROS EEM) and zaplatim prosim to ask for the bill - using a little czech will get you a smile http://www.myczechrepublic.com/czech_language/czech_phrases.html

I would avoid using your card in restaurants unless they bring the machine to you; skimming can be common.

Deffo avoid avoid avoid the bereaux de change places.

brianp20

Thanks for all the replies. I really appreciate it. Think I'm gonna use my card over there to withdraw money from atms, but only 1 or 2 transactions so it won't cost me a fortune.

Thank again.

music crazy

@ Brianp .... how did you get on in Prague ?I'm heading there in two weeks and trying to decide the same thing. I was going to change a 100 Euro over before I go and just use my debit card over there , from your experience what do you think would be the best option? I'm going for 5 days , but I will really have about 3 and half days to spend there the way the flights are timed. Thanks so much in advance:-)

brianp20

Hi, I changed money in the airport in Prague and I used an atm once more after that and that worked great for me. Hope you enjoy Prague, it's one of the best places I've been to.

sarkozy

Use ATMs - get some cash in the airport when you arrive, or buy some transport into the city with Euros then get cash in the nearest ATM run by a proper bank.

I learned the hard way. Never change euros in anywhere other than a real bank. The bureaux de change are scams.

USE ATMs OPERATED BY MAIN BANKS.

music crazy

@Brianp20 thanks for replying , I'm really looking forward to it now :-) @ Sarkozy I'll bear that in mind thanks for the advice much appreciated