Job Discussion Forums

[patchwork]

hello,

I'm not sure which is the best currency to bring to Prague.

USD? Koruny? or Euro? or some of all three?

thanks,
Ravi.

[spiral78]

Most merchants (other than at tourist shops) accept only Czech currency. You can change either Euro or USD easily, but beware commissions and exchange rates.

[Fledermaus]

Hope it's not too late to respond to this post. Best thing to do is keep your money in your bank back home, at least for now, until you get an account established over here. The reason is that if you withdraw from an ATM, you save on the commission charges (in fact, I believe that the conversion is free).

[Seeker of truth]

If Czech currency is essential, where's the best place to exchange either dollars or Euros? Should I wait until I've arrived in the train station in Prague and exchange some money then?

[spiral78]

NOT at the train station!!!!!!!!
Go for one of the more reputable banks, or American Express, or Thomas Cook....
I think personally that one of the best options is usually to withdraw cash from ATMs directly from your account abroad.

[Hamett]

At least I agree with Spiral on one point..
The best way to change money is to withdraw from an ATM.
Spiral, you obviously havn't been in Prague fo long because everyone knows to stay clear of the banks who charge expensive transaction charges.
But you were not to know.
Thanks for actually writing something useful in stead of just writing about how orgasmic your time at TEF WORLD WIDE was
Just one more thing to notice:
Many exchange offices offer 0% commission.
This is only if you are BUYING foreign currency (i.e, not getting Czch Koruna).
Beware!!!

[spiral78]

Hammett, get off it. I've been in Prague for ten years, though I don't live there full time any more. And I'm pretty tired of your slamming. I'm not sure why the mods don't edit a bit here.

Anyway, one more time for the record - I don't have a cert from TEFLW, don't work for them, never did. Just monitored the first course, saw it was a good one. Say so when someone asks for info on Prague. Have no personal stake in what course people choose whatsoever. Don't slam anyone else's course because I have no information on other courses in Prague at this time. Have an ITC cert myself, but don't plug for ITC because I've been out of touch with how their program has evolved and therefore can have no personal opinion for the current course.
Lived in Prague 9, liked it, can personally recommend some nice areas of Prague 9. For the record, have also lived in Zizkov and Prague 1.

Now, back to offering info and advice to those who ask, no more responding to your invective. Basically, if it says Hammett, I skip it.

[Stu]

I agree with Spiral 78, the only input you get from Hammett on this site is negative comments about all of the TEFL schools except the one he is affiliated to. No doubt Hammett will reply saying that I'm working for one of these schools or I have been a student at one. The truth is I've never been to the Czech Republic or taken a TEFL course but I choose to look at this site in an attempt to get some constructive advice. I have to say I'm surprised that the comments from Hammett are allowed to continue as they are so blatantly biased and very unhelpful for someone like myself.

[Czenglish]

Allow me to add my tuppence ha'penny (or however you spell it). Withdrawing from ATMs is a costly way of getting Czech Crowns. I don't know about bank cards from the USA, but if you use a British bank card here, then you pay a charge for using the ATM. Normally it's something like 1.5% or a set maximum (10 GBP???). So obviously for bigger transactions it can be advantageous, but for day-to-day cash withdrawals it's disadvantageous. Plus you might have a limit to how much you can withdraw in a day or week. The above concerns debit cards, if you withdraw using a credit card there are normally much steeper charges. Again, my experience is with British bank cards, not US.
In my humble opinion, the cheapest way to 'consume' abroad is to pay for goods/services directly via your card (electronically or other) - you don't pay a charge and the exchange rate is normally some sort of middle rate (in-between the 'sell' and 'buy' rates you see at exchange places). Of course, you'll need some cash because not all shops and services accept cards. I recommend changing dollars or Euros and shopping around a bit. Compare exchange rates in different exchange bureaux, check if there's commission or not. I'm not sure about foreigners, but most of these places offer commission-free exchange for Czech citizens so if you know any Czechs you can trust... get them to do it for you. But I think they've outlawed this (discriminatory) practice now and either there is or there isn't commission, depending on the company you exchange with. Hope this helps (and isn't wildly wrong...)

[Seeker of truth]

So would a good strategy be buying some Krone in Germany before arriving in Prague by train, and then buy more as needed at various banks when I'm there?

[spiral78]

I go to an ATM after I arrive. You'll find a full range of banks, exc. offices, or whatever service works best for you within a short distance of the main station. Just head for Wenceslas Square and surrounding blocks - it's all five minutes walk, bith reputable and otherwise.

[Czenglish]

I wouldn't buy Czech Crowns anywhere other than the Czech Republic, unless you think you will need some change on the train (although I expect they take Euros there), 'coz in CR your Crowns should be cheaper. Logically, Czech Crowns in any country other than CR are in short supply (although probably not in great demand, but it's not a major currency so demand's not such a factor). In the CR, 'hard' currency is in greater demand, although on the other hand there is a reasonable supply of Euros, dollars, etc from tourists.
I haven't changed any money into Crowns recently I have to admit, but last time I did, the banks might have offered a fractionally better rate of exchange, but charged commission. The best deals I got where at Exchange bureaux dotted around Wenceslas Square and other tourist areas - shop around! There are about 15 exchange places within a square kilometre, you won't have to do much footwork to get a deal. Of course, if money's not a problem, just go to the nearest one....
And before you start using your credit/debit card in an ATM, check with your bank whether or not there aren't any fees to be paid when withdrawing from an ATM abroad, specifically the Czech Republic.
Of course, there are always Travellers' cheques, but it's been so long since I've used them that I'd almost forgotten they still existed!
Whatever you do, don't change money on the street!
Here's one exchange place I found on the internet, their branches are dotted around Wenceslas Square, I'm not recommending it, just stating that it exists (there are plenty of other companies in the area), couldn't find any exchange rates on the site though: http://www.interchange.cz/indexuk.html
And to get an idea of what to expect, here are the Czech National Bank rates: http://wdb.cnb.cz/cnbeng/KURZY.K_PROC_ENG?p_date=20.09.2005
Of course, this is the central bank rate, commercial rates start above and below this rate (sell/buy).

[johnyarrington]

Dear All,

I'm going to the Czech (?) Republic on vacation for about 10 days, from Saudi Arabia.
I'm afraid I'm lost as to the best currency to bring.

Do you think I should bring Euros or US dollars, which are easily available in Saudi Arabia, or wait until I get there and use my credit card for most things?

Could you give me a general, ball-park figure on what I should pay for a reasonably well-located (near the center of..."things", in Prague is where I guess I would spend most of my time), like, 3-star hotel, with a private bath/shower, 2 people, hotel that would accept my international credit card?

I mean, how much "should" I pay? Just a general idea is fine.

Thank you!

[spiral78]

You can change either euro or dollars. Best bet is to use credit card as much as possible. Don't know what deal you have with your bank regarding foreign withdrawals: my bank charges very low rates, so it's best for me to get cash this way personally.
Decent hotel near the centre, I think roughly 65-100 euro per night for two people. Hostels are much cheaper and you can pay a lot more if you want something nicer.
Maybe someone will offer some specific, more economical leads, but if you want something fairly decent, I'd expect to pay in the above range.

[parrothead]

As nearly every posted here has observed, the exchange centers in Prague are notorious for scamming tourists. Just don't do it. It will honestly cost you$50USD to exchange $300. If you find yourself on Vacalavske Namesti, then you can probably use American Express, as that is the only reputable exchange office from what I have seen. ATMs are generally fine, but it depends on your home bank as per transaction fees. Mine about $5.USD.