What currency will I need?
The currency used in Prague, the capital city of the Czech Republic, is the Czech koruna (CZK). The koruna is often represented by the symbol “Kč” or “CZK.”
The Czech koruna is divided into smaller units. The main currency denominations include banknotes in the following denominations: 1000 CZK, 500 CZK, 200 CZK, 100 CZK, and 50 CZK. Coins are available in denominations of 50 CZK, 20 CZK, 10 CZK, 5 CZK, 2 CZK, and 1 CZK.
It’s always advisable to carry some cash, especially for smaller establishments, public transportation, and street vendors who may not accept card. Tipping in Prague is customary but not mandatory. In restaurants, it is customary to round up the bill to the nearest round figure or leave a tip of around 10% of the total bill. It is also common to tip taxi drivers, tour guides, and hotel staff if you receive good service.
Should I use travel cash or a card?
According to Mintel, 90% of British travellers take some travel cash with them. It’s perfect for tips, taxis, street-side vendors and locations which do not have card machines (or where they are not working). It’s easy to budget with, and share with other members of your party. It’s also not prone to technical faults, does not require internet access, and you won’t be charged to use it.
Having a debit card is also a great idea as backup – just make sure you know what fees the card issuer charges to make payments in the foreign currency (better still, find one that makes no charges at all). Bigger purchases should be made on a travel-friendly UK-issued credit card to get that additional Section 75 protection (see https://www.moneyhelper.org.uk/en/everyday-money/credit-and-purchases/how-youre-protected-when-you-pay-by-card). Make sure when paying by card that you ALWAYS pay in the foreign currency – do not let the card processor do the conversion to GBP as you will always get a worse rate. That applies even if the foreign currency is already loaded onto a prepaid multi-currency card – the card issuer will decide whether to settle from your foreign currency wallet or not.
Where can I buy currency?
You will typically get a better deal buying your travel cash here in the UK before you travel. Look for the highest possible foreign currency exchange rate to indicate the best deal. For example, a rate of CZK 26.8465 is better than CZK 25.7818 when buying Czech koruna (CZK). Airports tend to offer the worst rates – especially if you have not pre-ordered – and you may find a bureau de change on your High Street, in a supermarket or department store, in many travel agents, and at major transport hubs.
You can also buy Czech koruna from Travel Money Club for next business day despatch to home via fully insured Royal Mail Special Delivery Guaranteed by 1pm. Unlike the competition, we don’t hide fees and charges in our exchange rates – you just pay a fair and transparent handling fee based on how much you are exchanging. Get an instant quote now at https://yourtmc.link/quote-czk.
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