There are numerous ATMs located through Prague, and students generally found this the easiest way to get cash. Contact your bank to find out about what kinds of fees they will charge for international transactions. Students still find that, even taking these into account, ATMs are a better way to get cash than exchanging U.S. dollars because your bank will give you a much better rate of exchange.
To counter the large fees some students took out large amounts of cash at one time. If you choose to do that be careful with your cash. (Watch out for pickpockets!)
Credit and debit cards are less widely accepted in Prague than in the U.S., although that is beginning to change.
MasterCard and Visa accepted more often than AMEX.
Make sure you have a 4-digit pin on your debit card.
Some students came with them as backup for their cash and credit cards.
Do not rely on them as they are not always accepted.
If you lose them, or if they get stolen, you can put in a claim for your money.
as of January 2014
$0.05 = 1 Koruna (Kč)
Exchange rates change daily, so for the most accurate information look at: http://www.xe.com.