CzechSite: Banks and Money

Money

Czech Republic is a part of European Union since May 1, 2004, but it is not a part of Euro Zone.

The unit of Czech currency is the Czech Crown (CZK). Notes come in 5 000, 2 000, 1 000, 500, 200, 100 crown sizes; coins in 50, 20, 10, 5, 2, 1 crown sizes. Exchange rate fluctuates from 15 to 22 CZK for 1 USD. Check out up to date USD exchange rate and the other exchange rates at Czech National Bank.

Banks and Exchange Offices

If you need to open the bank account in Prague or need the bank service (included exchange), select one from the top six banks in the country (there is dozen of other smaller banks):

Ceska sporitelna (part of Austrian Erste Bank)
CSOB (part of Belgian KBC)
GE Money Bank (part of American GE Money Bank)
Komercni banka (part of French Societe Generale)
Raiffeisenbank (part of Austrian Raiffeisenbank)
UniCredit (part of Italian UniCredit)

The main foreign exchange offices are located in the center of Prague at Wenceslas Square or Na Prikope street. For the best exchange rates go to Exchange at Kaprova 13, between Staromestska metro station and Old Town Square. They are open daily from 9 am till 8 pm.

Avoid black market exchange. It is common to get fleeced with discontinued crown notes or worthless Polish, Bulgarian or Yugoslav notes. Click the picture on the right and check out how the Czech notes look. The 20 crown notes and 50 crown notes (in the left top corner of the picture) are discontinued and can be replaced at Czech National Bank. And remember, using a bank or regular exchange office service is always safe.

Credit Cards

There are cash machines for both Visa and Mastercard on every corner in Prague and the other big cities. Using credit card in stores, restaurants and withdrawing cash is safe. If you do not feel comfortable withdrawing your cash from the ATM on the street, you might prefer using cash machine in the bank lobby instead.

In smaller towns you will find just only one cash machine; in the villages there is usually no one. So, if you are traveling to the country, take some cash with you. Even restaurants and local stores in villages do not accept credit cards. But gas stations usually do :-)

Lost or Stolen Credit Cards

If your cheques or credit cards are lost or stolen, the best way to freeze the accounts is to call your home bank. Be careful and write down the phone number to your bank and your credit card number before leaving your home.

You can also try to call credit company in Prague:

American Express, call 222 800 333 (or call to UK 0044-1273-696933)
Eurocard/Mastercard, call 224 423 135 (or call to the USA 001-800-MC-ASSIST)
Visa, call 224 232 423 (or call collect to the USA 001-410-581-3836)

You can get emergency money from home through Western Union agents:

Western Union, Palackeho 15, toll free phone 800 190 009
Western Union, Wenceslas Square 15, phone 224 222 954, fax 224 222 937
Western Union, Jindrisska 7, phone 224 210 101

Tax Refund

Every shop in the country will charge you up to 20% tax on everything you buy. But if you take the goods abroad with you, you can ask for tax refund. The main refund office is located at Jindrisska 7, close to the main post office. You can reach them over the phone, dial toll free number 800 174 953.