What is the local currency?

The local currency is Czech Crown (Ceska koruna or Kc).
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What denominations does it come in?

Coins: They come in denominations of 1, 2, 5, 10, 20 and 50 Kc.

Banknotes: Paper money comes in denominations of: 100, 200, 500, 1000, 2000 and 5000 Kc.
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What is the best way to exchange currency?

The best way to exchange currency is at one of the major banks. They generally charge the lowest commissions (about 2% with a minimum transaction.) For smaller amounts, the charge can go up dramatically. American Express traveller cheques can be redeemed at the American Express office for local currency at full value, with no commission charged.

The many "exchange" outlets around Prague are very convenient but they charge higher commissions.
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What are commonly-used forms of payment for everyday purchases (such as groceries)?

Cash and credit cards are the most commonly-used forms of payment for every day purchases. However, it is recommended that you avoid carrying large amounts of cash.
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Will I be able to use my credit card around town? If not, list when I’ll need cash.

Yes, you can use credit cards in many shops and restaurants, but credit cards are not acceptable everywhere. It is recommended to always have some cash on you.
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By what method are bills (such as rent and utilities) paid?

Typically, bills are paid via bank transfer as this is very convenient. Other common methods are by cheque, debit card or in cash.
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What are the requirements for opening a bank account? At what stage of the settling-in process should I open it?

As long as you have a valid passport and a minimum of 100 CZKs, you an open a bank account and it will be effective immediately.
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Will foreign residents be able to find banking services in their native languages?

Not every bank has English speaking staff, but many banks provide internet banking and phone banking in English. You may also request that your bank statement be printed in English.
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Are there any restrictions on services for those who are new to your country?

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What are typical banking hours?

Typically, banks are open Monday through Friday from 9:00am to 4:00pm and are closed on Saturdays and Sundays.
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Are automatic teller machines (ATMs) available around the clock?

You will find plenty of ATM machines located throughout the city and they are available 24 hours a day, 7 days a week.
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Is there any other money information that might help me?

If you need further assistance contact Crown Prague.
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Crown Relocations has made every effort to present accurate information. However, regulations, rates and other variables are subject to change and Crown Relocations cannot accept responsibility for the errors that might result. Should you have any questions or need additional information, please contact your local Crown representative.