How Czech Travelers Prefer to Pay Abroad?

According to a recent survey by STEM/MARK for Home Credit, about a quarter of Czech travelers pay for their expenses in cash abroad. Another quarter prefers cash but occasionally uses a card, while just over a quarter pay predominantly without cash. Only eight out of a hundred people use their cards wherever possible.

The survey also found that most Czechs prefer to take foreign currency with them from home instead of withdrawing money from foreign ATMs. About four out of five people opt for exchanging currency in Czech exchange offices before departure instead of withdrawing money from foreign ATMs.

However, some Czech travelers take multiple payment cards with them when abroad. Over a third of people take two payment cards, and every tenth person carries at least three. Only 45% of people travel with just one payment card, and seven percent don’t bring any payment cards.

Most people (84%) don’t bother adjusting their payment card limits before traveling abroad, while every tenth person increases their limits and seven percent lowers them.

While cash remains a preferred payment method for Czech travelers, credit cards have advantages. Only seven percent of people take out a credit card before traveling abroad, with the primary motivation being to have a financial reserve, pay safely, and use it in a rental car agency.

When using cards to pay or withdraw cash abroad, it’s important to note that Dynamic Currency Conversion (DCC) may offer to convert the transaction amount to the currency in which the card is held. However, it’s always recommended to choose to pay or withdraw in the local currency to avoid unfavorable exchange rates used by the merchant.