Be careful when changing money in Prague, as a traveler, since they charge a commission at some of the exchange shops. Based on Oui Society experience, it's better to check the below tips in order not to fall into the commissioner trap once you travel to Prague.
Before giving them your money, ask them how much you will receive.
One of the nights there, like any traveler, I was in the old town of prague and decided to exchange my money, a street vendor approached me and asked me if I would like to exchange my money offering an exchange rate that is superior than the one offered in the bank. This thing surprised me and made me question myself, how can these people offer me a higher amount from the bank? First I accepted the deal and asked him to give me the money in order to hand him mine. He automatically stepped back and told me to hide in order to make the exchange. Here I was afraid and surprised of what happened, I immediately refused and continued my walk (once home, I made a research and found out that these street vendors work with pickpocket and thieves who target you once the transaction is made.
Money Exhange shop:
I was lucky enough not to exchange my money with the street vendor and went straight to a shop in the old town of prague where I can do the transaction. Unfortunately, the bad luck followed me again. I went inside and asked for the rate and I compared it with the same rate given by “Exchange” and found out that it’s the same, I handed him my EUR money and exchanged it for less than what I expected. What? is that logic? I surprisingly told him about the mistake he made but he replied back with confidence: “Madam, please check here what it’s written down, we take 28% commission for every transaction” and I was like, seriously? Why didn’t you tell me? End of the story.
Oui Society tip: Exchange your money at “Exchange” At Kaprova 14/13, 110 00 Praha 1-Staré MÄï¿½sto, Czechia.
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