The official currency of the Czech Republic is the Czech crown (Czech abbreviation – Kč, international abbreviation – CZK). One crown is equal to one hundred hellers (abbreviation hal.). Approximate ratio of the kroon to the euro: 100 CZK = 4 Euro.

Coins: 1 Kč, 2 Kč, 5 Kč, 10 Kč, 20 Kč, 50 Kč See Czech coins
Banknotes: 100 Kč, 200 Kč, 500 Kč, 1000 Kč, 2000 Kč, 5000 Kč See Czech banknotes

Payments in foreign currency

As the official means of payment of the Czech Republic, the Czech crown is the best and often the only currency accepted for payment within the country. Despite the fact that the Czech Republic is part of the European Union, the euro is not widely used here. Some shops, restaurants and hotels accept payment in euros, but the exchange rate may be underestimated.

Exchange rates

Currency converter – over 30 currencies, daily rate updates
Traveler’s “cheat sheet” – make up your sheet with exchange rates for various amounts in two currencies, print it out and take it with you on a trip!

Money while traveling – tips for tourists

• Only change money at banks or withdraw cash from ATM machines – you can always find one or two in major cities, and a large number in Prague.

• Be careful when changing money at exchange offices. Many of them are designed for inattentive tourists, and you can pay high commissions without even knowing it.

• Never exchange money with random people on the street. Their goal is not to exchange, but to steal your money.

• Do not carry large amounts of cash with you. It is better to take a credit card with you and withdraw the necessary amounts in the course of your travels. In addition, you can pay by credit card in many places (all major cards are accepted)

Bank transfers and Western Union

A few years ago, when a person needed to transfer money from Europe, he first of all thought about bank transfers. Other possibilities were practically not considered, since the bank was the most reliable and well-known way to send money. However, bank transfers have significant disadvantages. First, they are very expensive for the sender if he sends money to another country. Secondly, the money on the recipient’s account does not appear immediately. An international bank transfer takes an average of 2-3 days, or even longer.

Therefore, in many countries, including the Czech Republic, it has become the international system of sending money Western Union is popular. It was the fastest way to deliver money to the recipient. But even here there are nuances. In particular, the commission of this payment system, which is one of the highest.

International money transfer systems

With the development of modern technologies and the Internet, smaller organizations began to fill the niche of money transfers. They didn’t have the same history and resources as the American “monster” Western Union, but they became instantly popular thanks to their lower fees. These are Unistream, MoneyGram, Contact and many other fast international transfer systems.

The undoubted advantage of these systems is the simple execution of the transfer, acceptance and payment without the need to open an account, as well as the speed of receipt.

To date, there are several companies providing instant money transfer services in the Czech Republic. One of them – the Czech company MoneyPolo – along with transfers in branches, began to provide online transfers. The company has Russian roots, which greatly facilitates the interaction of Russian-speaking customers with the site and support service.