MONEY AND YOUR VALUABLES
How to Pay:
The best and easiest way to pay is to use your ordinary ATM debit card. You will get local currency (the Czech Republic is not using the Euro yet) at an
exchange rate far better than most exchange offices.
Some ATMs (bankomats) restrict the amount you may withdraw on a "foreign" cards. If you get a rejection, try another bank.
Cash is still the most typical form of payment except for very large amounts such as your hotel bill, an expensive purchase, or a fancy meal.
Credit cards are generally accepted in larger establishments. In many, you will be required to enter your pin, just as you must with a debit card. Some European stores do not accept American credit cards because they do not have the same insurance for the merchant as European cards.
Do NOT use Prague's currency "exchange" businesses. No matter what you see written about the rates and how careful you are, all are still notorious for scams that rip you off.
If you have cash in Euros, some banks and most hotels will exchange it for you, though hotel exchange rates are usually poor. Be aware that many banks post four rates: buying or selling within your own accounts at the bank and buying or selling cash.
Before you leave home:
- Be sure your pin is 4 digits only, or your card will not work in most European ATMs.
- Check your ATM fees and currency conversion fees. Banks and credit unions vary widely on these charges. While traveling, you will do better making a few larger withdrawals than many small ones. Bring a money belt for the cash.
- Photocopy the fronts of all your cards (as well as your passport). Bring the information for reporting a stolen card. Carry all this separately from the passport and cards themselves.
- Alert your card company about where you will be traveling. Some block its use when their computers flag another country.
Avoiding Pickpockets and Thieves:
Pickpockets are still a real problem year-round in Prague, as in many large
European cities. This is where precaution can mean the difference
between having a fantastic vacation and a miserable one.
As visitors arrive in spring,
so do additional thieves. They often work
in teams of 2 to 5 people and are quite bold. They
generally are not armed or violent, but neither are they in the
least intimidated by being seen in action.
Would you recognize these tricks and scams if a thief began to target you?
- The squeeze or sandwich
- The cargo pocket ambush
- Your restaurant neighbor
- You changed money "illegally"
- ....
Hedgie distills the wisdom of Prague residents to tell you
For a trouble-free trip, do read these!
