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Where to Change Money in Prague? Easy & Safe + Map (2021 Guide) - YouTube
Channel: HONEST GUIDE
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hello and welcome to prague czech
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republic a country in the heart of
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europe
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yet we do not use euro as our currency
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we use
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czech crowns this is what they look like
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this is 2000 almost the largest bill
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and one euro equals to 25
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crowns and today we're going to show you
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where and how to exchange
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euros or any currency into our currency
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of the czech crowns without being
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tricked or scammed
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so now i'm going to pretend to be a
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tourist i got 10 euros in my pocket want
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to change it into check crowns
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where do i go this is one of the largest
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squares in prague well right there next
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to the tourist info center
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is a good spot
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[Music]
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and here we are at the exchange office
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with a large board telling me what is
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the current exchange rate for different
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currencies
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since i'm bringing in 10 euros and i
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will get 25 crowns for one euro
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i'm gonna get 250 crowns should i try it
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out
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[Music]
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and just as i expected for 10 euros i
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got 250 czech crowns
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[Music]
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we moved to another spot where literally
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one minute walk from the old town square
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with the famous astronomical clock and
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this
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exchange office same story for 10 euros
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you're gonna get 250 crowns
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but keep in mind you can change how much
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you want you can change
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50 euros 100 euros dollars any currency
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you bring in
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they will give you check crowns we moved
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only tiny bit we're still in the same
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building
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and there's another great honest
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exchange office and this one will even
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give you a little more so for 10 euros
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you're not gonna get 250
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but 253 crowns so if you're changing a
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higher sum
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it may be better to come here but wait
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there are dozens of good and honest
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exchange offices in prague where you can
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safely
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exchange money we actually made a map
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that was viewed by more than
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million people looking for a good honest
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exchange
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place and we not only want to show you
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specific locations but we want you
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to understand the logic behind
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exchanging foreign currency
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into check crowns let me explain to you
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by the board
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as you can see you can bring in
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different currencies from all around the
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world but since we're giving the example
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on euros it's the first line usually and
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we want to look at the column that says
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we buy
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because the exchange office is buying
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your currency from you
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and in this case it's 25.35
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the other column we sell is when you
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want to buy the foreign currency not
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going to be the case of a tourist or a
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foreigner but if i
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as a czech person would walk in here and
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i would want to buy euros
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i'm looking here but you want to look at
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the we buy column
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[Music]
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but yup there's a bunch to the story of
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the exchange offices
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because there are still a few left in
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the city center
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that have very bad rates so when i told
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you
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that you can get 25 crowns for one euro
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in the places we showed you and the
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places on our map
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this place would give you very bad rate
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you wanna you wanna see it
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best rates for us dollars and euros well
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let's check it out
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so as you walk in you'll find this tiny
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little piece of paper
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let me find euros here there we go
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for one euro you're only getting 18
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crowns
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but you may argue and i'm pretty sure
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they will argue by saying well
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we're on the main square the rent is
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high and this is the normal standard
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rate
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not really how about that exchange
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office over there how about we check it
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out
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we only walked 100 steps to this
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exchange office and suddenly the rate is
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back to normal to 25.5 for one euro
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so imagine this imagine you're changing
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100 euros
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at that or this place by walking the
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hundred steps
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you're saving 750 crowns that's a lot
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it's like a full dinner for two
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including beers
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100 steps it's a bite for every step
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one more thing about this exchange
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office you may want to remember the
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bright orange color
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because you will see it if you arrive to
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prague by plane
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there's many offices at the prague
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airport so you better do not exchange
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your money there just wait till you're
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in the city center
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and do not come here but over there well
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you just saw it
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[Music]
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as i said only a few rotten apples left
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in the city well here's another example
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of a very bad exchange rate
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even though what you're seeing right now
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looks pretty good right looks like 26
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for a euro no no you got to change the
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angleholds a bit
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and suddenly you'll find out that you
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were looking at we
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sell but you want to look at we buy
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which is 17.89 for a euro
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which is ridiculous
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one more very very bad place we want to
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show you again this place would give you
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around 18 crowns for a euro which is
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very bad rate
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but if you make the mistake of actually
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falling
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into this tourist trap or any other
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around the city in terms of exchange
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offices
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you have an emergency break i would
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almost refer to it as the
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honest exchange law because you have
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three
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hours to get your money back if you have
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the receipt so that's important to
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always
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have a receipt and keep it with you when
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you exchange money
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and if you walk out and find out oh wait
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they only gave me 18 crowns for one euro
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well i have the receipt and i have three
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hours to get it back and that's exactly
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what we experienced here just recently
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with a guy
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who got his money he only got 18 crowns
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per euro and we said guess what there's
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a lot we can get you the money back and
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we got him the money back and he was
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happy
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also ironically this place is called
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best and fast change
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who's coming up with these names
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[Music]
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we've been covering the topic of
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exchange offices of the bad ones for a
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very long time with hanza
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and many of them shut down more than a
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dozen here
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used to be a dishonest place to change
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money thanks to the city authorities
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it's now gone
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it's been replaced with an atm which by
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the way may lead you
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to think that getting cash out of an atm
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is safe and it's uh reliable well not
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really
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these atms and many others can also
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trick you and charge you
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ridiculous fees uh in a nutshell you
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always want to decline conversion
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or choose without conversion but if you
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want to get a more specific
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explanation of this you can watch our
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videos specifically
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on atms
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i hope you understand after watching
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this video how and where to change money
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in prague czech republic
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uh but all this being said it is still
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the safest and the easiest
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to pay with your card we pay with our
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cards everywhere
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and most places will accept cards so if
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you
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walk into a starbucks you can just tap
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your card and get your coffee
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why the hell am i mentioning starbucks
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well because right here
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a couple years ago before starbucks was
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the very first
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scam exchange office in prague that got
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us to the
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entire topic we were filming about it
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for years
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it took a lot of effort a lot of videos
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a lot of you people to help us with it
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and finally you know it was gone and i
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was at starbucks
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and just a quick side note to the long
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time subscribers we will
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get back to the topic of scam exchange
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offices because they were fined
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they got huge fines and maybe they
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didn't pay the fines
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so we want to investigate that a bit
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more
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so a quick recap the map with honest
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exchange offices is
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below in the description check it out if
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you're going to exchange money at an
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exchange office you want to look at the
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we buy column and of course if you fall
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into a tourist trap you have three hours
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to get your money back
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you should be safe now i hope we saved
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you some money with this video and if we
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did
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you can spend them on something cool in
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the city you can go for a dinner to a
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pub to a bar to a coffee place
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and those tips can be found on our
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channel honest guide so check out the
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entire channel we got a lot of tips
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for our lovely city of prague i'll see
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you next week
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ponza and yannick be honest guys
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oh i'd almost forget one last thing
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never ever ever
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ever exchange money on the street
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somebody may approach you and be like oh
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i have a better rate i'll give you czech
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crowns well no instead of czech crowns
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he would give you expired belarusian
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rubles
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that are worth nothing so you would fall
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into a trap never
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ever change money on the streets please
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and a czech word at the end we're going
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to teach you
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turistitska past which is a tourist trap
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touristitska
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past tourist trap which you're not going
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to fall into because you watched this
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video
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so you're not going to fall into
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touristic past
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