Czech Koruna

Reganio 2

Hey I'm flying to Prague next week and was just wondering what's the best idea for changing currency (they still use their own currency the Czech Koruna) I was thinking of just taking money out of atms over there but it looks like AIB the bank I'm with charge a fortune for that. So would rather convert currency here. Where would be the ideal place to go. I'm quite clueless on this I have to admit. Thank you.

munchkin_utd

why are you bothering to change money at all.
Go to Prague. Go to a machine at the airport and withdraw a couple of hundred euro worth of local currency for little to no exchange cost.
Bring a little extra euros in cash to exchange on the spot if your initial stash runs out.
Pay for hotel etc with credit card.

all very manageable, but the last thing you should do is bother changing your holiday cash in Ireland before departure.

grimm2005

Agreed. I do the same thing on any trips away. Just go to an ATM and take out a large chunk of cash. If I need more towards the end, I'll go for a second ATM run and just take out enough. I'm with AIB as well and the charges are negligible, maybe €1 or 2, not enough to notice a big hit in your account certainly. I was in Prague last November and did this.

ardmacha

grimm2005 wrote: »

Agreed. I do the same thing on any trips away. Just go to an ATM and take out a large chunk of cash. If I need more towards the end, I'll go for a second ATM run and just take out enough. I'm with AIB as well and the charges are negligible, maybe €1 or 2, not enough to notice a big hit in your account certainly. I was in Prague last November and did this.

While I filly agree about the ATM, the small withdrawal may be less good value owing to a minimum charge. One other strategy for the last day is to change €50 at one of the many exchange places in downtown Prague.

Reganio 2

Thanks for the advise, seems the way to go. Would a "good chunk of cash " to make it worthwhile basically be anything over 200 or so?

I was driving past prague a few years back and stopped in to see the sights.
exchanged 20e in one of the tourist spots and was rode up a stick !
Nice place tho

jimmii

Was there in August most of the places were charging stupid commissions but there were a couple who seemed to want to buy up euro and were offering almost market rate. Really depends on how much you are changing and how long you are going for. If you are going to change a significant amount I would play safe and do it here best be quick though I think you need to give AIB 4/5 working days I seem to remember it taking about a week anyway.

coylemj

Withdraw at least €100 worth of local currency (to dilute the bank flat charge) from an ATM when you arrive, do not exchange money in tourist offices or bureaux du change, do not pay at tourist attractions in euros (they will fleece you with a crap exchange rate) and when paying for the hotel with a credit card, make sure the amount is in local currency.

Same rules apply virtually everywhere.

ardmacha

Reganio 2 wrote: »

Thanks for the advise, seems the way to go. Would a "good chunk of cash " to make it worthwhile basically be anything over 200 or so?

Read the commission/charges rate for your bank, but any minimum rates would typically not cut in below about €200.