Where to exchange money in Prague and how much?

Learn where to exchange money in Prague and where not! If you come to Prague it is always good to have some cash with you. Not much, Prague is very card friendly city. However, just for your personal comfort and back up you should exchange at least a small portion of your budget to Czech koruna (CZK). You can either use bank branded ATM or stop at money exchange office. Just make sure you pick the right ones. It is not always easy.

And who is writing this blog for you? My name is Dana, Prague local. Besides designing and guiding original small-group tours of Prague, I also like writing about my hometown. To prevent future visitors from the local tourist traps. Changing money is one of them.

exchange money in praue
Dana, owner and guide for Prague Behind The Scenes. And author of this blog.

Fast facts: how much for one Euro and USD?

Exchange rate for 1 Euro shouldn´t be less than 24 CZK

For 1 USD you should get 23 CZK or more

Such an exchange rate we consider to be fairly good (information from August 10, 2022). Charging a commision is a good trick of many exchange offices downtown. They usually offer a slightly better rate, however always take high commission. At the end – not a good deal. Always ask ahead.

where to echange money in prague

Where we go to exchange money in Prague?

Many Czechs, including me, go to a place called Exchange.cz (corner house at Nám. Franze Kafky 2, Prague) as we all know that many exchange offices downtown are notorious for ripping people off. That´s why we basically don´t waste time and go directly to Exchange.cz close to Old Town Square, 1 minute from the Astronomical Clock. Sometimes there are line ups in front of the entrance but no worries, it pays back (literally). They provide fair services and have really good exchange rates. You don´t have to be afraid of any hidden fees or paying a commission. 

Exchange.cz office downtown Prague. 1 minute from the Astronomical Clock.

How much money should you exchange?

If you prefer cash in Prague, one person should have around 1500 – 2000 CZK / pp / day. To cover all standard meals, drinks, tickets, basic grocery. This is equal to 60 – 80 euro.

What if you exchange money in Prague at a bad place and get scammed?

If you get ripped off at some unfair exchange office and you find it out later, according to Czech law, within the timeframe of 3 hours, you can be refunded at the place of transaction. You just need the original receipt. Don´t be afraid and ask your money back. It´s your right.

Watch out – some bank notes can be expired!

Some older versions of Czech bank notes are no longer valid and we are withdrawing them from circulation. The new versions still look the same just have wider silver security strip. Only 5000 CZK bank note stays unchanged, with a thin strip. So what to do if you get the old one? No worries. It actually happened to me today while paying in a drug store. I was told I had the old one. So I went to the nearest bank office and they gave me a new one. Again – rather pay by card. This could be a trouble on weekends when banks are closed.

exchange money prague
Old vs. new bank notes. The older versions have thinner silver strip. If you get one like this, just go to any Czech bank. They will give you a new one. This exchange will only be possible until June 2024, later you will need to go to Czech National Bank.

Never ever exchange money in the streets!

Do you prefer ATM? Make sure you choose the right one!

In case you prefer withdrawing money from ATM, please avoid Euronet Worldwide machines (of course, they are strategicaly located everywhere downtown). You will recognize them immediately – they have blue-yellow-white branding. Once their ATMs detect foreign card, they will push you to withdraw high amount of money – like 10 000 for example – for this amount you can get 222 large tap beers. You really don´t need so much cash here.  Any other machines are ok (not best, just ok, you will always loose money on transaction fees, withdrawal fees, etc.). But what is important? Always choose the option “without conversion” when clicking on the screen and trying to get through all the confusing options.   

Try to avoid these tricky ATMs!

Summary and the best practices

1) Try to pay by card everywhere you can.

2) Want to exchange money? Go to Exchange CZ The office is located just one minute from Astronomical Clock and Old Town Square. Corner entrance (blue / white logo).

3) If you plan to pay by card here and just want to exchange some back up money: exchange around 40 euro (USD). Always ask for some smaller bank notes and coins. Coins are very useful when paying for WC (10 – 20 CZK). The exchange office doesn´t accept cards! You need cash. And only bank notes.

4) If you prefer cash and don´t want to use cards: exchange 70 euro / pp / day.

5) When using ATM, avoid Euronet machines! Any other machines are ok (not best, just ok, you will always loose money on transaction fees, withdrawal fees, etc.). But what is important? Always choose the option “without conversion” when clicking on the screen and trying to get through all the confusing options.

6) Check your bank notes if they are valid (some older versions are not and we are withdrawing them from circulation). The new ones have wide silver strip.

Where to next?

How tipping works in Prague? Do we tip? How much should you leave?

Prague in a less touristy way? It´s possible. Avoid crowds, learn and support sustainable tourism in Prague.

Prague in one day: what to see and do? Photos and full itinerary.