Prague Airport is fundamentally changing and improving currency exchange services, capping the exchange rates of three core currencies at a maximum of a 15 percent spread compared to the midpoint of the Czech National Bank (CNB). This set exchange rate policy is at the lower end of the scale among European airports. The current provider, Interchange, which won the concession procedure entered by four bidders, is to start offering foreign currency exchange services at Václav Havel Airport Prague under these new conditions.
New conditions and the concept of the exchange rate spread margin were the main criteria of the concession procedure. According to Jakub Puchalský, Member of the Prague Airport Board of Directors, having experience in providing foreign currency exchange services and VAT refunds at the minimum at three international airports was another concession procedure condition, followed by the prerequisite of a set exchange rate spread for the euro, dollar, and British pound; “In our case, it was the difference between the offered exchange rate and the midpoint of the CNB published exchange rate at a maximum of 15 percent. In the case of online currency reservations and currency collections at the airport, the cap for the mentioned three currencies is only 5 percent, which could be especially interesting for domestic travellers.”
The tender winner will start offering currency exchange services at Václav Havel Airport Prague from 1 December 2023. The required services of the new provider include exchange services, operation of ATMs, processing and payments of VAT refunds, online advanced reservations of currencies with collections at the airport, and money services including cash transfers. The provider will enjoy exclusivity in the area of currency exchange services and ATMs in the non-public area of both airport terminal buildings.
The contractual fine in the amount of 10,000 crowns for each violation of the exchange rate cap is also new. In the case of persistent violations, Prague Airport will have the right to cancel the exclusive status of the operator or terminate the agreement. The new operator will also have an obligation beyond the scope of the law to process cancellations of transactions in the public airport area which were concluded in the restricted area of the airport, to which the client no longer has access. Changes will also be noted at some exchange counters, namely their refurbished modern look.
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