Czech Republic - Prague

[Henry Louey]

For anyone going to the Czech Republic (specifically Prague) be aware of a couple of huge ripoffs with Money Changers over there

Ripoff #1

At the Airport and Train Station the "official" Money Changers charge an 18% commission for any foreign Currency Transactions. Suffice to say. DO NOT USE

Ripoff #2

If your thinking that you will just get the money in town then this one is worse

There are Money Changers all around St Charles Bridge and Old Town Square that advertise "NO COMMISSION" in big posters with attractive rate posted

What they don't highlight is that there are two rates. The Attractive Rate is a "VIP" rate for transactions over 2000 Euro. For smaller transactions the rate is about 30% of this. You only find out after you get your money (less 30%)

I found that the best place to get cash as inside Tesco's of all places. Rates were very close to XE.com and %0 commission

 

[Mal]

How unusual.... A scam in Prague.

Thanks for the advice. Changing money is fraught with issues in some countries.

 

[ermen]

You should have a look on tripadvisor for good places to change money

For me, I just get the Citibank Transaction Plus account with no FX fees and get money out of the ATM machine (there's two Citi machines at the airport and a few in town from memory)