Tourism in the Czech Republic is very well developed — rich history, impressive architecture, and nature attract hundreds of thousands of foreigners every year. You may need some cash if you are also planning such a trip.
The Czech Republic is legally obliged to switch to the euro under the 2003 accession treaty. But public opposition has prevented this switch. Some shops and restaurants accept euros, but change can be given in Czech crowns, and it is not sure that the exchange rate will be favourable. So, it is better to stock up on CZK cash.
Although cards are widely accepted, there are times when cash will be needed — markets, small transactions in some shops and rural areas are cash only.
Features of the Czech Crown (CZK) and its exchange rate
One CZK is equal to 100 Heller, but prices are usually rounded up, so it is rare to see Heller denominations in shops. CZK coins are available in 1, 2, 5,10, 20 and 50 CZK denominations. Banknotes start at CZK 100 and offer denominations of CZK 200, 500, 1000, 1000, 2000, 5000.
Where to exchange Czech crowns (CZK):
- The exchange rate is usually more favourable if you buy currency directly on the spot than if you buy it in advance from home.
- If you suddenly need cash on arrival, you can exchange small amounts directly at the airport. With more significant sums, losses due to exchange rate differences can be substantial. The same can be said for hotels.
- It is not recommended to exchange CZK cash on the street. Some criminals sell old banknotes that have gone out of circulation.
- You can exchange currency at most banks operating in the Czech Republic, which have special exchange offices.
Finally, you can always use BestChange to find the best online currency exchanger to exchange cash crowns safely. Each exchanger sets a minimum limit for the transaction, while the maximum limit is limited only by the reserves of the exchanger.
ATMs in the Czech Republic — where to withdraw CZK cash
If you have a Czech bank card, getting cash through an ATM is convenient. They can be found almost everywhere, but withdrawal of money (per day, month or at one time) is subject to the limit of a particular bank.
If you withdraw funds from a foreign bank card, you will be charged an additional fee for converting other currencies into CZK. Partner banks may be an exception (before travelling to the Czech Republic, you can check if the bank you are using has partners in the country).
The largest retail banks in the Czech Republic include:
- Československá obchodní banka
- Ceska Sporitelna
- Komercni banka
International banks operating in the Czech Republic:
- Unicredit Bank
- GE Capital, etc.