Bank account and card in the Czech Republic- how to open a bank account

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Which card to use in the Czech Republic. Bank account in the Czech Republic

Bank account and card in the Czech Republic

Czech banks. How to open a Czech bank account for a foreigner?

Which banks are in the Czech Republic? The Czech banking system consists of a central bank and commercial banks. The Central bank of the Czech Republic is the National Bank of the Czech Republic, which performs settlements only between credit institutions. He also deals with the issue of money and regulation of the financial sector in the Czech Republic, conducts monetary policy, sets exchange rates and loan rates.

Commercial banks in Prague are engaged in settlement and cash services for legal entities and individuals. List of banks in the Czech Republic: https://www.banky.cz/banky /. Carefully study the conditions of each individual bank. Which banks in the Czech Republic are the most reliable?

List of the best Czech banks

Česká spořitelna. Official website of the bank in the Czech Republic https://www.csas.cz/cs/osobni-finance
ČSOB Českoslavenská obchodní banka – Official website.
Komerční banka (KB) – website.
Air Bank. Bank in the Czech Republic official website http://airbank.cz 
Era / Poštovní spořitelna
Evropsko-ruská banka
Fio banka
GE Money Bank
Moneta
AIR BANK
EQUA BANK
RB (RAIFFEISENBANK)

How to open a Czech bank account for a foreigner

The main condition for opening a bank account and a card in the Czech Republic is to reach the age of 18. But there are exceptions, for example, a student account can be opened from the age of 15, but with the condition of the presence of a legal representative. You can independently open an account with UniCreditBank from the age of 15.

Opening an account in a regular bank is quite simple. To do this, a foreigner will need a passport and documents confirming his purpose of being in the country. This may be a confirmation of study from a university, a confirmation from work or a work contract. At the end of 2020, some banks began to require confirmation of the address of residence in the Czech Republic, and earlier it was enough to name the address verbally. What do I need to prepare to open an account in a Czech bank?

Documents for opening an account and a card in the Czech Republic:

Individuals represent:
– International passport
– a second identity confirmation document (birth certificate, driver’s license or biometric card).
Residence permit due to the address of residence (on request).

Confirmation of training from language courses (university) or a work contract (on request).

Since my arrival, I have opened an account and a card in the Czech Republic’s CSOB Bank. Most Czechs use the ČS bank. In my case, I do not pay anything for the service in the Bank of the Czech Republic and for withdrawals at ATMs of this bank. ATM card in the Czech Republic http://bankomaty-mapa.cz

How to open an account for a foreigner in a Czech bank online?

Many banks offer to open a bank account in the Czech Republic online, but a mandatory condition is that you need to be a citizen of the Czech Republic! Foreigners can open an online account in the Czech Republic only at EQUA BANK.

To open an online bank account in the Czech Republic, you need to go to the bank’s website, select běžný účet (current account) from the top menu and you will immediately be offered to open an online account.


Then click ( оtevřit účet online) on open an online account, and you will be moved to a page where you will already enter your data.

Required documents for opening an account in the Czech Republic online:

  • Passport or residence permit.
  • International law or biometric card.
  • An account in another Czech bank in your name.

If you do not have an account with another Czech bank, you will still have to either personally go to the bank to sign the contract, or wait for the courier who will bring it to you. Considering all sorts of little things, it is much easier and faster for foreigners to just come to the bank and issue an account with a Czech bank.

Bank benefits in the Czech Republic for students

Almost all Czech banks provide students with the opportunity to open accounts with benefits, and the account itself is usually maintained without commission. Czech banks issue bank cards to students for free! The most famous Czech banks are Česká spořitelna and ČSOB. Their branches and ATMs are found at every turn. What do they offer students?

Bank Česká spořitelna offers the FRESH účet tariff, which is intended for young people under the age of 21 (and if there is a certificate of education – up to 30 years). Registration and account management, as well as card issuance are free of charge. But without commissions, you can withdraw money only 2 times a month, and only at the ATMs of Česká spořitelna. Each subsequent cashing out costs 6K per transaction. All other benefits are already provided on a paid basis.

Internet banking in the Czech Republic and mobile application

Every bank in Prague has a convenient mobile application where you can make transfers, pay for mobile communication, and arrange additional services. A bank account in the Czech Republic will be useful not only for convenient storage of money, payment of applications to universities, but it will also be useful to control where the student’s expenses go in the Czech Republic.

A Czech bank account and a card will be useful if you rent an apartment or a hostel and there is a need to transfer money to the landlord. A bank account in the Czech Republic is needed when concluding a contract with a mobile operator for monthly payment of services.
A free Visa or Mastercard card is issued to an open Czech bank account. By default, bank cards in the Czech Republic are issued with contactless payments. There are no cashbacks in the Czech Republic. Czech bank card can be used to pay for purchases abroad and on the Internet.

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Česká spořitelna – The best bank in the Czech Republic

Czech Internet banking Česká spořitelna

Opening a bank account in the Czech Republic. Internet banking Česká spořitelna is the best and very clear, very functional, there is a full-fledged English interface. An envelope with login data for Internet banking www.servis24.cz they gave it right away. The client number from the contract (Czech. Klientské číslo) is used as the login, and the “service password” (Czech. Heslo pro telebanking) and “security code (Czech. Bezpečností kód) are in a sealed envelope.

When you first log in to www.servis24.cz we go to the first login page (chesh. První přihlášení), where we specify the client number and the numbers from the corresponding positions of the security code. As a result, either an SMS with a password comes immediately (it can be changed in the settings), or the system will request a service password (see “Heslo pro telebanking” in the envelope), and a password creation window will appear. This completes the setup, and we get to the main window of Internet banking.

To the right of the account number, the balance is displayed and there are links to pages for viewing statements (chesh. Historie) and making payments (chesh. Platba). To confirm payment, for example, for “invitations” to universities in Prague, in the Czech Republic, it is required to attach to the documents a printed statement for the day of payment. If you need to send an extract by e-mail or carry it to print out to the same copy center — Servis24 Internet banking is able to save statements in PDF, print or send it. There are excellent applications for iPhone and Android — they are the best of all Internet banking.

ČSOB

ČSOB offers a similar rate for students in the Czech Republic, which is called Studentské konto. For free, you will get all the same features offered by Česká spořitelna, as well as unlimited incoming and outgoing payments online. At the bank Česká spořitelna, you will have to pay 29K a month for outgoing payments without commissions. CSOB also offers free alerts about your banking transactions via SMS or email.

Bank account in the Czech Republic – how to make a bank card in the Czech Republic?

Keep in mind that when contacting the bank you will have to speak Czech, do not think that everyone knows English. You will have to speak Czech, which you will have time to learn by the time you go to the bank.

Student account in the Czech Republic – Účet pro studenty a mladé. If you are not a student yet, then find out the service rates. The procedure for opening an account in a bank branch takes no more than one hour, provided that you have all the necessary documents:

• application for opening an account (provided by a bank employee on the spot)
• two identity documents: passport and birth certificate, driver’s license or biometric card
• the amount of money for the first deposit (from 100 Kč)
• your contact details (prepare the residence address and postal address in advance, if different).

Upon completion of registration, the employee issues a laminated Czech bank card with account details in Prague, an envelope with data for the initial entry into Internet banking and informs that you need to expect a letter from the bank by mail with the card and instructions for obtaining a PIN code.

About a week after registration, an envelope with a card and instructions for obtaining a PIN code comes directly to the hostel at the reception. Everything is simple with the card — put your signature on the back. With a PIN code is more difficult, read the instructions. We act as follows:

• at the end of the line “Kontrolní číslo pro získání PIN” we add the year of your birth
• the resulting full “Kontrolní číslo pro získání PIN” is sent as an SMS to the number +420 736 371 371 from the number specified when opening the account;
• we enter the code received in the SMS response into the cells (they are filled in the photo);
• you can see your PIN code in the white cells!

Together with a bank card in the Czech Republic, the bank provides students with a free square sticker card. It acts similarly to a regular card, the PIN code on it is similar to the PIN code of the main card. According to the idea, it can be glued to the phone and so pay in stores without having to pull the card out of the wallet.

The limits on the sticker are set separately and initially they are zero, do not forget to set up in Internet banking before the first use, in it the sticker is shown as the second card to the account. The main card is also contactless, by the way — this is very convenient, almost all Czech supermarkets and large stores have the possibility of contactless payment.

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Raiffeisen Bank

Bank account and card in the Czech Republic. There are many banks in Prague that offer different student rates. Personally, I use a debit card in the Czech Republic Raiffeisen Bank. I have an account for students, which can be opened from the age of 18. At Raiffeisen Bank, opening and maintaining a bank account in the Czech Republic is free for students under 26 years old, unlimited cash withdrawals in Czech and EU banks. A bank account in the Czech Republic is multi-currency, you can add 19 different currencies to use. Very handy banking app. The application can be downloaded for phone, tablet and computer or laptop. There are quite a lot of Raiffeisen branches and cash withdrawal machines throughout Prague, which is quite convenient.

How to open an account in the Czech Republic at Raiffeisen Bank

Go to a Czech bank, say that you need to open a bank account in Prague for a student. You must have a passport with an active visa or residence permit in the Czech Republic and proof of study.
The banking application of Raiffeisen Bank is called “eKonto”, you need to download it directly at the bank, because it is activated only at the bank. You will not be able to activate the banking application on your own.

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Only 30 minutes pass and you have opened a bank account in the Czech Republic. If you want, you can order an additional debit plastic card. If you do not need a plastic debit card in the Czech Republic, then you yourself connect Apple Pay or another payment system through your smartphone.
If you decide to get a plastic bank card in the Czech Republic, then it will be sent to your address in a paper envelope in about a week. There is no need to go to the bank again for a bank card. Also, right in the application, you can open a savings account in the Czech Republic.

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Withdrawing cash from a card in the Czech Republic

Withdrawing cash from a card in the Czech Republic

Your parents or relatives make a money transfer to your bank account in the Czech Republic. Then you can:
1. Convert euros or dollars to czk directly in the Raiffeisen app
2. Withdraw cash euros at the Raiffeisen bank cash desk (no commission), go to the exchange office and exchange for czk at a good rate.
3. Withdraw cash crowns in the Czech Republic at an ATM
I usually compare the rate offered in the application and the one offered in exchangers, choose the best one and, based on this, choose the method of withdrawing cash in the Czech Republic.

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Revolut Bank

Bank account and card in the Czech Republic. I also advise you to open an account with Revolut Bank. No need to go to the branch, everything is done via the Internet. Download the Revolut app. Register (enter your personal information ), confirm your identity with a document (passport, ID, driver’s license), then add a photo online (apparently to check with the photo on the documents). Verification usually takes less than a day. When it ends – you can use your account! You can also order a plastic card, delivery takes up to 2 weeks. Right in the application, you can add several currencies, convert money at an excellent rate. There are several tariffs, with free – free maintenance, free cash withdrawal from the ATM up to 4500 CZK per month, unlimited swift transfers without commission. Very user-friendly interface and profitable translation rates. Also, if you are engaged in cryptocurrency, then withdrawing money to the Revolut card will be one of the most profitable.

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Card expiration date and service fee

How to issue a bank card in the Czech Republic. The Czech bank card is issued for 3 years. In the future, the bank notifies you of the need to bring an up-to-date confirmation from a university or school to any branch or download online to extend the validity of the student tariff. The account is replenished free of charge through a bank branch. Money is withdrawn from any ATM of this bank, but with a limit of 30 thousand crowns per day. Be careful, do not withdraw money at the bank’s cash desks: it costs 65 crowns!

In order to avoid fraud, it is also recommended to set limits on transactions in Internet banking, for card payments in stores – if necessary, you will raise the limit in a couple of clicks even from the phone app.

How much does the Czech bank service cost to a foreigner if you are not a student?

If you are not a beneficiary (pensioner / disabled person) and not young people, large banks charge a fee for servicing an account in a Czech bank from 20 to 50 kronor per month. In such banks in Prague there are also free accounts, but under certain conditions. For example, a monthly income of 15,000 crowns. This means that the money must come by transfer from the employer or just your friend. Putting money yourself at the cash desk or through an ATM does not count as the arrival of funds.

The cost of maintaining an account in banks. https://www.banky.cz/

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Deposits in Czech banks. Banks in Prague – interest

Banks in Prague. A deposit (Czech. Termínovaný vklad) in the Czech Republic can be made both in Czech crowns and in other currencies, but it brings only 0.2-0.5% per annum. All deposits in banks in Prague up to the equivalent of 500 thousand euros are fully insured in accordance with EU legislation. Interest rates in Czech banks are quite low. If your goal is to reliably save funds, this is an excellent option, but if you are more interested in increasing capital, perhaps you should choose some other method.

How to open a credit card in the Czech Republic?

Consumer loans and credit cards are the same in the Czech Republic. They are issued based on the rating of the bank’s client in the Czech Republic, which will be awarded to you by the bank. It happens like this. If you already have an account in a Prague bank where you want to get a loan in the Czech Republic, you will be asked a couple more questions about your income amount, etc. In a few minutes the computer will give a verdict.
It also depends on the loan amount and the repayment terms of the loan in the Czech Republic. If the bank does not have sufficient information about you, they may request income documents. All this is solved individually and objectively. Therefore, it is impossible to say in advance what is needed to approve a loan from a bank in the Czech Republic.

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