Bank Account in the Czech Republic
Having a bank account in the Czech Republic and in Czech currency (CZK) will make many things much easier. Whether it's receiving your salary, shopping, paying for everyday expenses, or managing your finances, a local CZK account can save you time, money, and unnecessary hassle.
Opening an account
Once you have chosen a bank that suits you, visit any of its offices in Brno and open an account. Or better still, call the nearest office in advance and make an appointment with an English-speaking officer. Some banks allow you to open a bank account online. Before going to the bank, call a Brno-based branch in advance to make an appointment with an English-speaking bank officer.
Czech Banking Sector
The Czech banking sector is well developed and stable. There are large international banks that offer a wide range of products and pride themselves on their experience and stability
International Banks
There are large international banks that offer a wide range of products and pride themselves on their experience and stability, but their fees may be little higher.
Low Cost Banks
Brno is a vibrant student city with a strong international community, affordable cost of living, and excellent transport links to Vienna and Prague. You won’t be alone — many of our researchers have made it home.
Banking & Payments
The currency in the Czech Republic is Czech Koruna (CZK), Koruna Česká. The most common way to pay for everyday purchases is by cash or a card. Internet banking is also an option. Czechs do not use cheques at all, but they are recognised by most banks and are capable of redeeming them.
Currency exchange
You can exchange money at a bank or in an exchange office (windows on the streets), which usually offer better conversion rates than banks, and almost always without commission. If you choose to exchange money at the exchange office, please pay attention to the information provided by the office, including the exchange rate, details of charges/fees and make sure you receive a receipt with the details of your transaction, to avoid possible errors. Banks, although they will likely charge you with commission, might be a safer choice in case you want to exchange a bigger amount of money.
International Money Transfers
In case you need to forward some foreign money to your new Czech bank account, for an easy and cheaper money transfer between a foreign bank and a Czech bank, you may use apps such as TransferWise, that offer fair exchange rates and low-cost transfer fee.
What do I need to open a bank account?
- Two identity documents – your passport and an additional identity document (ID card, driving license…)
- Official residence permit
- Employment contract or student card may
- Deposit (usually between CZK 100 and CZK 1 000)
- Czech phone number – most banks send an authorisation code to your mobile phone to confirm online banking transactions
EU Residents vs. Non-Residents
When opening a bank account, banks differentiate between foreigners from the EU/EEA and foreigners from third counties. As an EU citizen, you are usually required to bring an identification document valid in the EU, such as an ID card or passport, and one other identification document may be requested. As a citizen of non-EU county, your main ID document must be a passport, accompanied by a Czech residence permit and another piece of identification document (birth certificate, driving license), preferably with a photograph.
For short-term stays (up to three months)
You are not obliged to open a Czech bank account. We can send the salary to your normal foreign account. To be able to do so, we will need the following information:
- IBAN (International bank account number) – e.g. CZ65 0800 0000 1920 0014 5399
- SWIFT code / BIC – e.g. AIRACZPP
For Bank Accounts created in the USA, the following information is necessary:
- Account holder
- Name of the Bank
- Account Number
- SWIFT code
- Bank Branch Adress
If you choose this way of receiving your salary and choose not to open a Czech bank account, expect that some fees for an international money transfer may occur, as well as when withdrawing money from an ATM.
Long-term stays (more than three months)
You will need to open a bank account in the Czech Republic if you are going to work in FNUSA-ICRC for a long-term period (more than three months). The reason is that the international transactions are charged by special fees. It means that both you and we are charged more with every payment and overall, you receive less money.
Do you have a question? Contact us.
