Prague is a beautiful city, but its currency exchange market can be a minefield for tourists. With over 80 exchange bureaus in the city center alone, the difference between a “fair deal” and a “scam” can cost you 20–30% of your money. If you want to exchange money in Prague with good rate, you need to check few moments properly.
💰 Where Should You Exchange Your Money?
You have four main options, but they are not created equal:
- Official Exchange Bureaus (Street): Usually the best option if you pick the right one. Look for reputable names like Exchange.cz (near Old Town Square).
- Banks: 100% safe but often have “hidden” costs through lower exchange rates and limited weekend hours.
- Contactless/ATMs: Using a card is the best way to pay in 2026. However, avoid Euronet ATMs (the blue and yellow machines). They offer predatory rates and high convenience fees.
- Street Money Changers: NEVER do this. It is a 100% guarantee that you will receive worthless out-of-circulation banknotes (like Hungarian Forints or old Belarussian Rubles) instead of Czech Korunas.
⚖️Exchange Money in Prague: Your Legal 3-Hour Time for Cancellation
Many tourists don’t know that Czech law is actually on their side. According to Czech National Bank (CNB) regulations:
- The “Worst Case” Rate Rule: Exchange offices are legally required to display only the least favorable rate they offer on their main boards. While they can offer “VIP rates” for large amounts, they are prohibited from using them to lure you in. If you see a rate on a sign, it must be the one you actually get.
- 0% Commission is the Law: Bureaus cannot charge a separate “service fee” or “commission” for a standard cash exchange. The profit must be built into the exchange rate itself. So all signs “0% commission” is a dirty trick.
- The 3-Hour Cancellation: You have the legal right to cancel any transaction up to €1,000 within 3 hours if you realize you got a bad deal. The office must refund you the full amount in the original currency.
- Receipts are Mandatory: You must have your receipt to claim a refund or exercise your 3-hour right. If a clerk refuses to provide a receipt for any reason, walk away immediately—it is a major red flag.
Currency exchange in Prague is quite safe. However, you need to keep your receipt. Always ask for one; if they won’t give it to you for any reason, go to another exchange office. There are hundreds of them in the center of Prague. As long as you have the receipt, you have a three-hour period to cancel the transaction and get your money back.
🚨 The “Double Rate” Trick
Watch out for boards that show two rates. Often, the “Great Rate” you see in big numbers is only for VIP customers or transactions over €1,000.
The Golden Rule: Always ask the teller: “How many Czech Korunas will I get in my hand for [Amount] Euros/Dollars?” Do not hand over your money until they show you the final number on a calculator or a screen.
Once you have your koruna, check out our Prague Guide of Restaurants and Cafe
How will you know if the exchange rate is good?
Before you step into a money changer or currency bureau, you need a benchmark. The easiest way to tell if a cash point is giving you a fair deal is to compare their offer against the official mid-market rate you see on Google or XE.
As of March 2026, here is what a “good” changing rate looks like in Prague:
| Currency | Official Mid-Market Rate | What a “Good” Exchange Bureau Offers for “We buy” column |
| 1 EUR | ~24.40 CZK | 24.10 – 24.30 CZK |
| 1 USD | ~21.10 CZK | 20.80 – 21.00 CZK |
| 1 GBP | ~28.20 CZK | 27.90 – 28.10 CZK |
How to Find a Best Place to Exchange Money in Prague: the “1-Crown Rule”
A quick trick to spot a “tourist trap” exchange point: check the “spread” (the difference between their buying and selling price). A reputable bureau de change usually has a difference of less than 1 CZK. If the gap is 2 CZK or more, they are taking a massive cut, and you should find another place to change money.
Quick Checklist Before You Swap Your Cash:
- Check your phone: Look up the live conversion rate right before you walk in.
- Look for “WE BUY”: Since you are selling your foreign currency to the exchange office, you want the rate listed under “Smenárenský nákup” (We Buy).
- Do the Math: If you are swapping €100 and the conversion rate is 24.20, you should get exactly 2,420 CZK. If the number on their calculator is lower, they are hiding a fee—which is illegal!
🔍 How to Exchange Money in Prague: Beware of “Old” Banknotes
In recent years, the Czech National Bank (CNB) phased out older banknotes to improve security. If you are swapping cash, you must ensure you aren’t being handed “dead money” that shops won’t accept.
- The “Thin Stripe” Rule: Most invalid notes (100, 200, 500, 1,000, and 2,000 CZK) have a very narrow, silver security thread that doesn’t change color when you tilt it.
- The 5,000 CZK Exception: Unlike the smaller bills, the 5,000 CZK note is still valid even if it has the older, thinner silver stripe (the 1999 and 2009 versions).
- Newer is Better: To be safe, look for banknotes where the silver stripe is wide and changes color from purple/brown to green when tilted.
- What if you get an old bill? Don’t panic. While you can’t spend them in stores, you can still exchange invalid notes at the Czech National Bank (CNB) headquarters in the center of Prague (Na Příkopě 28) for an unlimited time.
⚠️ Scammer Alert: If a “helpful” stranger on the street offers you a better exchange rate than the office, walk away. They will often hand you invalid Czech bills or even out-of-use Belarusian Rubles that look similar but are worth zero.
Exchange money in Prague Comparison Table
Comparation of Exchange Money in Prague methods for clear understanding what is better.
| Method | Safety | Rate Quality | Recommendation |
| Reputable Bureau | High | Excellent | Best for Cash |
| Bank | 100% | Average | Safe Backup |
| Euronet ATM | High | Very Poor | Avoid |
| Street Dealer | Zero | Scams only | Illegal |
