How to Send Money From Prague to the USA
When transferring funds from Prague to the U.S., look for the lowest conversion rate. Exchange offices (kancelary) and currency kiosks multiply throughout the city, making it difficult to know who to trust. The safest way to transfer money is through a personal bank account. If that is not feasible, a few other options--like wiring or online banking-- make transferring money quick and relatively stress-free.
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Instructions
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Send money with Western Union. Western Union has branches throughout Prague in the Czech Republic. Search for an agent online or go to the central location, in Prague 1, on Vodickova (see Resources). Bring the money in cash or credit to any international Western Union agent location. Accept the funds transfer charge, which can run between $30 to $50 if you are changing money from Czech crowns (koruny) to U.S. dollars. As of April 2010, 1 CZK equals .053 USD. Look for Western Union transfer deals that charge only 5 percent buy and sell margin.
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Transfer funds through a U.S. bank account. Sign on to your U.S. or other bank account website. Check that your account offers a money transfer, bill pay or funds transfer option. If the money you intend to transfer already exists in your checking or savings account, select funds transfer to withdraw that money to a person in the U.S. who either shares that bank account or whose account information you can access. Or, select bill pay. Choose Add New Biller. Fill out the recipient's address, and select Pay New Biller. That person will receive the funds with a check in your name.
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Transfer funds via PayPal. One of the newest money payment and transfer options, Pay Pal allows users to transfer, pay or receive funds quickly from anywhere in the world. Create a free Pay Pal account online. Add a bank account (checking or savings) to the Pay Pal account. Add funds from your bank account into the Pay Pal account using the "Withdraw to Account" feature in the menu bar's drop down list. Add the desired amount to the new Pay Pal account. Ask the recipient to create a Pay Pal account for quick transferring online. Or ask the US recipient for their bank details so you can transfer funds directly into their U.S. checking account. Payments usually transfer within five days. If you only have a Czech and not a U.S. bank account, opt to "withdraw" from your Czech Republic bank account and deposit to the recipient's bank account in the U.S. When the money comes from a PayPal balance account to another Pay Pal account, the transfer is free. When transferring through bank accounts, charges start around $1.50 for a $300 transfer.
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Open a Czech bank account. Bank with major Czech banks located in Prague such as Ceska Sporitelna, HVB, Komercni Banka or CSOB. Citibank and HSBC---internationally recognized banks--tend to transfer money internationally with more ease though other Czech banks transfer funds. Choose a banking online option as well. Transfer money from your Czech bank account to a U.S. bank account or individual recipient (in bill pay) for quick money transfers from account to account.
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Wire it. Wire money through American Express. The centrally located office--American Express office in Prague 1, Vaclavske namesti 56 in Wenceslas Square, opens daily from 9 a.m. to 7 p.m. American Express or another wiring service offers pick-up services in the U.S. If you wire money from Prague to a person in Tulsa, Oklahoma, the Oklahoma resident may pick up the money, free of charge, at their local American Express office.
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References
Resources
- Photo Credit prague 2 image by Pontus Edenberg from Fotolia.com
