Common Tourist Scams in Prague (and How to Avoid Them)
Spotting honest vs scam exchanges
- Honest exchanges in central Prague: Exchange.cz (Kaprova 14, near Old Town Square; also at Národní 32 and Václavské nám. 33) — consistently 0.5-1% spread vs mid-market. Praha Exchange (Panská 6) and Stříbrná Exchange (Štěpánská 30) — similar honest rates.
- The honest-board tell: only one rate displayed; same buy and sell rates posted with no asterisks; receipt shows the same rate as the window.
- The scam-board tell: multiple "BUY" rates with different thresholds; one rate in huge letters and asterisks pointing to fine print; tellers reluctant to confirm the rate before you hand over money.
- The rule: always ask "how many CZK will I receive for [X] euros?" before handing money over. The teller must legally answer in writing on request; an honest exchange will simply write it down.
- The €1,000 ceiling test: if the board's main rate applies only to amounts over €1,000, walk away — that's the scam tell.
If you got scammed — the 2019 cancellation right
- The law: Act 222/2019 (Section 31 of the Currency Exchange Act) gives consumers a unilateral right to reverse a foreign-currency exchange within 3 hours, provided the original currency, the receipt and a passport are presented at the same exchange office.
- How to invoke it: return to the exchange within 3 hours. Present the receipt, the cash (in the same denominations you received), your passport. Say "I am exercising my right to cancel under Section 31 of the Currency Exchange Act". The exchange must reverse the transaction at the original rate.
- If they refuse: call the Česká národní banka (CNB) consumer protection line +420 800 160 170. CNB inspectors enforce Section 31 and can revoke an exchange's licence on the spot.
- The general consumer protection route: Česká obchodní inspekce (Czech Trade Inspection Authority, ČOI) — coi.cz — handles longer-running complaints.
- For tourist police support: Tourist Police, +420 974 821 261 (Jungmannovo nám. 9, near Wenceslas Square; English-speaking 24/7).
FAQ
- What is the Prague currency exchange scam in 2026?
- An exchange window displays a 'BUY' rate (e.g., 26 CZK/EUR) in huge letters but applies a much worse rate (e.g., 22 CZK/EUR) to amounts under €1,000 — a 15-17% spread hidden in fine print. The 'no commission' sign is technically true; the spread itself is where the scam lives. Concentrated in Wenceslas Square, Karlova, Pařížská and Old Town Square.
- Can I get my money back from a Prague exchange scam?
- Yes — Czech Act 222/2019 (Section 31) gives a unilateral 3-hour right to cancel any currency exchange. Return to the same office within 3 hours with the receipt, the cash in the same denominations, and a passport. Say you are 'exercising your right to cancel under Section 31'. If refused, call CNB consumer protection on +420 800 160 170.
- Will the tourist police help with an exchange scam?
- The Prague Tourist Police (Jungmannovo nám. 9, +420 974 821 261, English/German/Russian, 24/7) handle the complaint and can accompany you back to the exchange to invoke Section 31. For exchange-specific issues, the Česká národní banka consumer protection line (+420 800 160 170) is more direct — CNB inspectors can revoke an exchange's licence on the spot.
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