Government approves bill letting customers get money back from dodgy exchange offices

30-05-2018

The acting Czech government has approved legislation aimed at reining in exchange offices that rip off customers. Under the bill it will be possible to abrogate a transaction and receive one’s money back for a period of up to two hours. The change was proposed by the Czech National Bank.

The minister of finance in resignation, Alena Schillerová, said it was no secret that the practices of some exchange offices were giving the Czech Republic a bad name.

The minister said tourists might receive only CZK 15 to the euro from some currency exchanges on Prague’s Old Town Square. The standard rate at present is almost CZK 26 to the euro.