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Although it might seem unlikely, a quick internet search reveals a strong presence of Czech-born and Czech-origin Australians, most of whom are settled in Melbourne and Sydney. The first Czech citizens arrived in small numbers during the Gold Rush in the 1850s, followed by a wave of World War 2 refugees after the communist takeover in the late 1940s, and then again after Soviet occupation in the late 1960s.
Many young people from the Czech Republic still favour Australia as a favourite destination to continue their studies. In terms of bilateral trade agreements, Australia has made significant investment in the Czech Republic, while an Investment Promotion and Protection Agreement was signed to improve commercial relations.
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Marek is a second-generation Czech-Australian. Recently his brother and sister-in-law moved back to the Czech Republic after both accepted positions in a prominent law firm in Prague. Marek has just become an uncle and would like to send cash as a gift for his new niece. He has the choice between two money-sending services.
| Money transfer service 1 | Money transfer service 2 | |
|---|---|---|
| Exchange rate | $1 = 16.82 CZK | 1 = 16.32 CZK |
| Transfer fee | $3.48 | $37 |
| Amount received for $500 | 8,354 CZK | 7,515 CZK |
| Transfer time | 1 to 4 working days | 10 minutes |
| Transfer options | Online transfer, bank transfer | Online transfer |
| Difference | 839 CZK |
When comparing transfer services for getting money to the Czech Republic, it’s important to consider the following factors:
When comparing money transfer services online, the money is sent in Australian dollars and received in Euro, US dollars and Czech koruna. The following transfer services will get your money to its destination:
Here are a few money transfer options to consider for sending money to Australia from the Czech Republic.
In case of an urgent transfer, you may have to pay an additional fee for faster delivery, but in if’s an emergency, a few extra dollars won’t make that much of a difference.
If you’ve opted to use Western Union or MoneyGram to make a transfer, here are a few locations in Prague and Olomouc from which to make a collection.
Smartraveller.gov.au advises that you exercise normal safety precautions while travelling in the Czech Republic. That said, the influx of migrants has caused disruptions to public transport systems. Be aware of suspicious individuals and watch out for pickpocketing and other petty street crime. If you need to collect money from a pick-up point, make sure you get there during opening hours. If possible, take someone along - especially if you don’t speak the language.
Most money transfer services require that you register and become a member first. Signing up is quick and usually free. Most services will require some or all of the following information:
You can effect the transfer online whenever you like, or visit an agency and do it in person. In most cases, you’ll receive a reference or tracking number.
