Currency Exchange Points in Prague Are Punished For the Breaches of Regulations

Prague Morning

Prague Morning

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Over the past year, more than 200 complaints about the currency exchange offices were received by the Czech National Bank.

The highest penalty for the breaches of regulations reached 1 million crowns. Most often, exchangers are punished for providing clients with insufficient information about the exchange rates and commissions.

Most of the exchange offices, which the National Bank received complaints about, are located in the center of Prague.

According to the blogger and reporter Janek Rubeš, who has been drawing peoples' attention to the unscrupulous work of the Czech exchangers for several years, the main problem is that many tricks used by the exchange points are not prosecuted in any way.

"They charge commissions in various ways, but try to do it as secretly as possible," Rubeš said.

According to experts, tourists often do not even know how the Czech crowns and coins look. In one of the cases, tourists from the US received already invalid Slovak crowns instead of the Czech crowns. As soon as tourist signs a receipt for the exchange of money, and a currency exchange officer informs him about the conditions, the unfavorable exchange rate is no longer considered a crime.

Compliance with the rules at the exchange points is controlled by the Czech National Bank. However, tourists in the center are turning to the police with their struggle, which has the right to inform them about the bad exchange rate being offered at the exchange office.

Author: Anna Zhadan


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