Banking

Banking in Czech Republic

Opening a Czech bank account is relatively simple compared to many European countries. Several banks actively welcome foreign clients.

Requirements for Opening an Account

EU Citizens:

• Valid ID card or passport
• Proof of address (utility bill, lease)

Non-EU Citizens:

• Valid passport
• Residence permit or visa (90+ days)
• Work contract, study confirmation, or lease
• Proof of Czech address

You do NOT need:

• Czech language skills (at foreigner-friendly banks)
• Minimum deposit (most banks)
• Czech tax ID initially

Recommended Banks for Expats

Best for English speakers: UniCredit Bank has a dedicated International Clients Center at Náměstí Republiky in Prague with staff speaking English, German, French, Italian, and Russian.

Types of Accounts

• Běžný účet (Current account) - For daily transactions
• Spořicí účet (Savings account) - Higher interest for savings
• Podnikatelský účet (Business account) - Required for freelancers/Zivno

Online Banking

Most Czech banks offer:

• Mobile banking apps (English available at major banks)
• Online payments and transfers
• SEPA transfers within EU
• Contactless cards

International Transfers

For international transfers, consider:

• Wise (formerly TransferWise) - Best rates, fast transfers
• Revolut - Multi-currency accounts
• Western Union - Cash pickup options

Tips for Expats

1. Open an account early - You'll need it for rent, salary, utilities
2. Bring all documents - Passport, visa, lease, employment letter
3. Try foreigner-friendly banks first - UniCredit, Raiffeisenbank, Fio
4. Get a Czech phone number - Most banks require it for 2FA
5. Consider Wise/Revolut - Useful while setting up local account