Saturday, April 21, 2012

From euro to CZK exchange

In about 2 weeks i%26#39;ll visite Prague in my honey moon. The cash will be in euros. If i go to the bank in Prague i can change euros to CZK? Is any risk ok bad exchange? I see many warnings about exchange office. I believe that the bank exchange rate is better than exchange bureaux, right?





Thanks!




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If you have not yet changed your lei into euros then I suggest you don%26#39;t! The best thing you can do is exchange lei directly for czech crowns.





If you already have the euros a bank is a safer bet than a bureau de change or exchange office and probably gives better rates too.




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One problem is that I already have euros. Another problem in Romania about CZK is the quantity offered by our banks: they don%26#39;t have. I buy 2000 CZK very hard. The rest of the money are in euros.



a) All the banks in Prague accept to exchange euros to CZK?



b) The exchange rate is fixed or not?



c) Is an minimum amount of euros to exchange?



Thanks!




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a) Yes.





b) No, the Czech Crown floats freely, is not pegged to any other currency and is not in ERM II.





c) No, but the charging structure at the bank as well as the use of your time probably makes it worth making as few visits as reasonably possible.




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What is the charging structure at the bank?




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It depends on which bank you go to. I believe at CSOB it is 1% of the transaction value with a minimum 150 CZK charge and a ceiling of 1000 CZK.




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Vaxaholic...do you know if the exchange rate I would get at an ATM exchanging euros to CZK is that much different from bringing Euros and exchanging them at a bank? The reason I am asking is that I am just a bit worried thati may have trouble with my atm card from italy since it has a 5digit password....




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use exchange stalls, you will get better rate than in bank.



most valuables are:



www.exchange.cz



www.centralchange.cz




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heebicka



what is an exchange stall?




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They are kiosks on the street where you change money. However in Prague you have got to know what you are doing as some of them are complete cowboys - I have never heard of a five-figure PIN number (sounds like a five-pin plug :) ), but maybe your bank could advise you.





Banks are at least reliable, but at 150 Crowns a go it is expensive if you intend to change on several occasions. That is why an ATM is the best option all round because although you will probably pay a fee, it will be less than the high street bank.





Unless you can find an exchange booth that is totally trustworthy, that is.





The experience in Brno is quite the opposite - none of the exchange booths will rip you off, and you can negotiate with them to get the best price.




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thanks for your input...I was trying t have a back up plan ...but I have an italian bank debit card and my pin number is 5 letters or numbers...anyway I already had a thread on this and don%26#39;t want to take up anyone%26#39;s time anymore....I thought ig I brought the euro then I would just exchange it at a bank....if i could not use my atm card....

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