Ten Golden Rules for Bureau-de-Change (Currency Exchange) Clients:

  • Before exchanging money, carefully read all the information on the exchange rate list and the service price list.
  • If there is anything unclear about the exchange rate or the fee, enquire about the final amount you will receive in the transaction. The bureau de change is obliged to provide you with such information in a suitable manner (in writing, on a calculator, etc.).
  • The purchase and sale of foreign currency and the corresponding exchange rates are seen from the bureau de change’s perspective. You will receive foreign currency in exchange for Czech korunas at the sell rate and Czech korunas in exchange for foreign currency at the buy rate.
  • Exchange rates and fees can differ from one bureau de change to another. Bureaux de change set these rates independently of the exchange rates announced by the Czech National Bank.
  • Some bureaux de change allow you to negotiate an individual exchange rate before the transaction and some set dual exchange rates depending on the amount being exchanged.
  • Insist on being issued with a confirmation slip for the service. The bureau de change is obliged to issue one.
  • After you receive your cash, check carefully whether the information on the confirmation slip matches the information provided by the bureau de change, i.e. the published exchange rate, the price of the service and any other exchange terms and conditions.
  • Make any complaints immediately after the transaction on the bureau de change’s premises. Request the contact details of the company’s responsible officer.
  • If the transaction has been executed in accordance with the information given on the exchange rate list and the service price list, the bureau de change is not obliged to withdraw from the transaction. Cancellation of transactions is not subject to regulation and the Czech National Bank is not authorised to order bureaux de change to cancel transactions.
  • If the bureau de change does not acknowledge your complaint, you can lodge a complaint in writing with the CNB. Such action, however, does not constitute an application for approval of your complaint. It merely draws the attention of the supervisory authority to the situation.