How to pay and where to get you cash in Prague?

The currency in the Czech Republic is the Czech crown (CZK), known as Koruna (Kč). Prague is a modern city and is up to date with payment options. It is advisable to use your bank card to pay or pay contactlessly in restaurants, supermarkets, and attractions. This way, you get the best exchange rate with minimal additional costs. In tourist areas, you can use euros, but at a less favorable rate.

You can go a long way in Prague using your bank card, but in some places, cash is still king. For those moments, you can withdraw crowns from an ATM or exchange your euros at a currency exchange office.

However, before doing so, take a moment to read the following tips to avoid unnecessary fees, high transaction costs, poor exchange rates, or potential scams. Following these tips can save you anywhere from 15% to 100% on your money!

Converting crowns to euros

Make quick calculations easier in shops or restaurants with these simple conversions:

  • 10 crowns = €0.40 | £0.35 | $0.45
  • 25 crowns = €1.00 | £0.85 | $1.10
  • 100 crowns = €4.00 | £3.40 | $4.50
  • 250 crowns = €10.00 | £8.50 | $11.00
  • 1000 crowns = €40.00 | £34.00 | $45.00

For the latest rates, check the current exchange rate here:

Tip 1: Pay with card

You can pay with your bank card or credit card (usually contactless) at many locations in Prague. If in doubt, always ask before ordering anything in a café or restaurant.

This offers the most favorable exchange rate and the lowest transaction costs.
This way, you don’t have to carry a thick wallet.
Sometimes, when using a card, you may have to choose between crowns or euros. In that case, choose crowns for a better exchange rate.

Tip 2: You need (a little) cash

You won’t need much cash in Prague, as most places accept contactless payments with cards.

However, it’s wise to have some cash for attractions, smaller vendors, traditional markets, and authentic Czech restaurants that may not accept cards. Always check in advance to avoid surprises.

If you’re visiting Prague or the Czech Republic just once, be careful with withdrawing or exchanging money to avoid excess crowns after your trip. A small amount of cash will suffice!

Tip 3: Never withdraw money from a standalone ATM

The standalone ATMs (like Euronet) that you see on every street corner and at the airport in Prague use a clever trick.

It is a money-waste.

What's the trick?
  1. The machines can tell from your card that you are a foreign tourist.
  2. They then let you choose from a number of high amounts, for example, 10,000 crowns instead of 1,000 crowns. You may withdraw 400 euros, which isn’t directly a problem.
  3. However, the unfavorable exchange rate combined with the machine’s conversion results in a 10-15% fee on that high amount.

Always select 'decline conversion' at every ATM. This way, you will receive the exchange rate that your bank is currently offering.

Personal Tip

"For cash: I prefer taking euros/dollars to Prague and visiting a trusted exchange office, where I consistently get a better rate than using ATMs."

Tip 4: Exchange your euros at a currency exchange office

You can also bring cash in your own currency (euros, pounds, dollars, etc.) and exchange it at a currency exchange office in Prague. B

e cautious, though - if you get 15 crowns per euro, you're likely being scammed. Always check the exchange rate offered and compare it to the current rate, as well as any commission fees, to avoid losing money. Currency exchange offices usually profit from your transaction.

Tip 5: Withdrawing cash at the bank has hidden costs

The ATMs at Czech banks (CSOB, KB, Ceska Sporitelna, Raiffeisen, Citibank, and Unicredit) do not use the above trick.

However, you still need to be cautious with those ATMs.

What are the hidden costs?

  • Check the exchange rate before approving the transaction (around 24-25 crowns per euro). These banks also profit from an unfavorable exchange rate.

  • On top of that, you’ll pay transaction fees of five to ten euros to the bank where you withdraw cash, and you will also incur a fee per transaction from your own bank (for example, ING charges €3.50 plus 1.4% of the amount withdrawn). Check with your bank for the additional costs per transaction.

    Experience from "You Love Prague":

    • Currency exchange office: 2500 crowns for €100 (depending on the daily exchange rate)
    • Withdrawing at the bank: 2500 crowns for €113 (I canceled the transaction)

    In short: I withdraw my money at a currency exchange office or pay by card.

Tip 6: Never exchange money on the street

In Prague, there are some Eastern European gangs that want to exchange your money at what seems like a favorable rate. Before you realize it, they have exchanged your money, and you end up counting it again. You check it once more, and it looks like you really got a good deal.

What trick are the using?

Until you realize at your first payment that you're using expired Belarusian rubles. You would expect that no one would fall for these scams, but it still pays off for the gangs.

By the way, I've never seen them in action.

Another trick:

You withdraw cash from an ATM.

The scammer pretends to withdraw money from another machine next to you- without actually doing so- and then asks you to break his freshly withdrawn cash into smaller bills.

He hands you Belarusian rubles - without you noticing - and you give him Czech crowns.

Your money is gone.

Tip 7: Tipping in a bar or restaurant

Just like in other countries, it is customary to tip in a restaurant or pub. Sometimes, the bill at tourist establishments includes a "Recommended tip" that is circled. Don’t pay attention to that and give what you feel is appropriate.

If you don’t mention the tip, you will get all your change back. They won’t make a fuss about it.

Guidelines for tipping in Prague:

  • Tip an amount that you feel comfortable with. Five to ten percent is fine; more is always appreciated. For Americans reading this: 25% is excessive!
  • Don't leave your tip on the table in Prague, especially not on a terrace. Hand it directly to the serving staff.
  • Round up small amounts. For example, if a beer costs 45 Kč, consider rounding it up to 50 Kč.
  • When paying by card or contactless, indicate the total amount you want to pay, including the tip.

You Love Prague

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