Opening a Bank Account in the Czech Republic
Written by cd on April 21, 2007 – 6:16 am -Given the Czechs’ fondness for bureaucratic, they make getting people’s money, for example opening a bank account, here is very simple.
What do you need?
You will need your passport, another form of ID, a document proving your residence in the Czech Republic, and an initial deposit for your account (for example, my bank required 500 CZK).
Since Prague is flooded with foreigners, banks usually have representatives who can speak English. However, you have to call first for an appointment and ask if this service is free.
- Interesting facts
Banks in the Czech Republic seem to charge for everything: deposit, withdrawal, ATM, maintenance, automatic-payment, receiving payment, etc in return for not charging a ridiculously high fee for over draft as in America. - Checks don’t exist in the Czech Republic.
I chose eBanka because it has canceled most of the fees and charges only 285 CZK per year for the ATM card. Other banks don’t charge you for the ATM service, but instead rip you off from the monthly maintenance fee. One absolute requirement from eBanka is that you maintain a monthly inflow minimum of 15,000 CZK. (Remember, inflow is different from balance.)
Some banks to consider
eBanka - www.ebanka.cz
CSOB - www.csob.cz
Komercni banka - The Park, V Parku 8
Ceska sporitelna - Centrum Chodov, Roztylska 1
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