Bisected by the Vlatava River, Prague’s Gothic grace and Renaissance architecture is enough to draw millions of tourists every year, not to mention the pull of its many world-class museums and baroque churches.
While the city lies at the heart of central Europe, the Czech Republic is not actually a member of the Eurozone. The national currency is the Czech crown (koruna).
As with any trip it’s important to get your finances in order before you go. Here, find out how many koruna you might need and the best forms of payment to use.
Generally speaking, yes. Most shops, restaurants and bars accept debit cards however your bank may charge overseas fees. Having a travel-friendly debit card with you means you are able to buy things cheaply over the counter or make withdrawals from ATMs overseas, without being charged a fee.
These cards can be used with ease in Prague where Visa and Mastercard are accepted, and you can make contactless payments too.
For the best travel-friendly debit card options you’ll need one with no currency conversion fee and no international ATM withdrawal fee. If you bank with a digital-only bank like Monzo or Starling you can avoid these extra fees. Find out more here.
A travel-friendly credit card gives you a cost-effective way to make purchases outside the UK. Look for a card which waives the fee for currency conversion when you make a transaction in Czech koruna.
These accounts also offer handy features for travellers such as providing complimentary travel insurance when you charge the cost of your return travel ticket to your card, and you’re also protected by the card scheme (Visa/Mastercard/American Express) anti-fraud guarantees (debit cards and travel cards are also covered), which should allay any fears about card fraud in Prague.
These are good for allowing you to load the currency of the destination you’re travelling to. There are a handful of widely available prepaid travel money card products that allow you to load and spend in Czech koruna. These include the Post Office Travel Money Card and Wise.
Otherwise you can get a no currency conversion fee travel card, or a no international ATM withdrawal fee card. Be aware that there are cards which waive one fee, but not the other.
If your stay in Prague is temporary and you have plans to move onto other European countries, these products shouldn’t be overlooked.
Traveller’s cheques can be cashed at banks and exchange offices in Prague. Although these products are not a popular way to carry funds to another country any more, they are still in use in the city. When you cash your cheques, you’ll pay a commission. Exchange offices (up to 10%) charge a higher commission than banks (2%).
While cards are widely accepted in Prague, there are more than a handful of times when you’ll need cash — markets, hole-in-the-wall bars, small transactions at stores and in rural areas.
Despite being a full member of the European Union, the Czech Republic has yet to introduce the euro as the official currency. Although the economy is relatively stable and is considered ready to integrate into the Eurozone, popular opinion remains against the move.
But, as is the case in so many neighbouring countries, the euro acts as a kind of unofficial currency in Prague, often readily accepted, sometimes even more than cards.
However, it is still advised to change euros into koruna and pay with that instead, because of the unpredictable exchange rate.
You should also try to purchase koruna in the UK before you depart. Your bank will be able to sell you cash and you can buy the currency from the Post Office and other foreign exchange providers in shopping centres, but be sure to avoid airports.
It’s relatively easy to get cash exchanged in Prague. Look for the word “valuty”, meaning literally “change”. If you have foreign currency to change to Czech koruna, you’re looking for the “buy” rate. But look for the “sell” rate if you need to change your koruna back to foreign currency.
If there is a large difference between the “buy” rate and the “sell” rate, take your business elsewhere.
Some exchange places will charge a flat fee for the service, and others will charge a commission. A commission is more suitable if you are changing a small amount of money and a fixed rate is better for larger amounts.
Stay away from the exchange places in the Old Town, for example, as they often have poorer exchange rates and higher commission designed just for tourists. Banks generally charge 2%.
Although the city still enjoys a lingering reputation among British tourists as a bargain basement destination, prices have risen considerably in recent years. It remains affordable in comparison to western European countries, though, with £1 worth around 30 koruna.
| Prague examples | Budget | Mid-range | Expensive |
|---|---|---|---|
 | Hostel £15–£25 per night | 2-star hotel £40–£90 per night | 5-star hotel £120–£300 per night |
 | Coffee and a pastry £5–£7 | Dinner for 2 at a traditional Czech restaurant £15–£30 | 3-course set menu at Michelin star restaurant £55+ per person |
 | Sightseeing for free! | Visit the Castle of Prague £9 per ticket | Guided historic pub tour (drinks included) £40 per person |
*Prices are for example purposes only.
Travellers to Prague will find debit, credit and travel cards can be used throughout the city. Visa, Mastercard and American Express branded products can be used at point of sale terminals for purchases and at ATMss for withdrawals too. Expect to be able to use these cards at restaurants, hotels, supermarkets, retailers, train and metro stations throughout the city.
If you need to withdraw more cash, the good news is that most banks in Prague don’t charge ATM usage fees.
Most digital banking apps, which are a great option owing to very low if not flat transaction and withdrawal fees, come with either a Visa or Mastercard bank card. They work as normal bank accounts do, so the “topping up” process simply consists of transferring money into the account.
| Year | Average annual exchange British pound (GBP) to Czech koruna (CZK) |
|---|---|
| 2020 | 29.7529 |
| 2021 | 29.8277 |
| 2022 | 28.8185 |
| 2023 | 27.6024 |
| 2024 | 29.3442 |
*2024 rate is the average up to 18 April 2024.
It’s important to have more than one way to access your money when you’re in Prague, or anywhere for that matter. While emergency cash assistance from companies such as Visa and Mastercard can give you the money in your account if your card is lost or stolen, this request can take a up to a couple of days to process.
While there are a handful of prepaid travel money cards that can hold Czech koruna, you may find that a travel card not be the best product to use in Prague, given the small selection of currency-compatible products. However, prepaid travel cards are worth considering if you’re on an extended trip within the European Union.
Travel-friendly debit cards combine some of the benefits of a travel card, minus the fees and you might also want to take a credit card so you can access an emergency line of credit. This may also be useful if you need to put down a credit card as a security deposit. Similarly, most leading digital banking apps offer a range of benefits, not least of which is zero transaction and withdrawal fees.We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
If you regularly use airport lounges, a bank account that includes airport lounge access could be worth considering.
Find out more about the American banks operating in the UK.
We explain everything from registering and funding your business to employment and business law.
What are your chances of winning the monthly prize draw?
We’ve compiled a list of banks and apps that pay refer-a-friend bonuses, so you can earn some money for referring your friends.
Use our side hustle tax calculator to estimate how much income tax and National Insurance you might owe on your side hustle earnings.
Is this cashback scheme from Santander any good?
Ways to boost your income with just an internet connection, smartphone or laptop.
Learn more about how to deposit your hard-earned cash in a bank account.
Discover who can pay money in at the Post Office, how you do this and whether your bank is supported at Post Office Everyday Banking.
