- Which bank should I choose?
Different banks cater to different customers. The Czech banking sector is quite developed and stable. There are large, international banks that offer a wide scale of products and boast experience and stability, but you may pay a bit extra on charges (Raiffeisenbank, CSOB, Česká Spořitelna, Komerční banka etc). If you are looking for low fees and you don’t need any special services, consider one of the low-cost banks (Equa, Fio, mBank, Air Bank, etc). Identify your needs, browse their websites, and find out which one of them suits you best.
- Are the banks here English-friendly?
Most of them are, but to a different degree. Some have a website in English, some don’t. Make sure their internet banking services are in English, too.
Banks with English web/app: Raiffeisenbank, CSOB, Česká Spořitelna, Komerční banka, Equa, Fio
When you settle on a bank, call their shop in Brno in advance and make sure you will be able to meet an English-speaking banker.
- How do I open an account?
Once you’ve picked a bank that suits you, walk into any of their offices in the city to open the account. Or better yet, call the closest office in advance to set up a meeting with an English-speaking clerk.
Some banks allow opening a bank account on-line.
To open an account, you will need two personal identifications – passport and another form of identification (driving license or similar). Official residence permit, work contract, or student card, might be required too, so take it with you. Many banks ask for a deposit when opening the current account (usually from 100 to 1000 Kc). As most of the banks send an authorization code to your mobile to confirm internet banking transactions, it is important to have a functional Czech phone number.
You can find more information about obtain one in our guide Phone card.
- What should I be aware of when opening an account?
Check the list of fees the bank will be charging you for their services. Some of them might not be standard in your country, so avoid surprises in the future (for example, most banks charge you a monthly fee for simply having the account).
Some contracts will include ‘preferential conditions’ which frees you from some fees if you reach a ‘minimum monthly transfer limit’. Make sure it is indeed your plan to be transfering (into and from your account) this amount of money every month to enjoy the free services.
- I need to make international money transfer. What should I do?
Use specialized providers for international money transfers, it is cheaper and with no hidden fees. A well-known international provider is transferwise.com. A Czech localised service is devizy.cz (run by Fortissimo co. Ltd). They offer very good exchange rates and depending on amounts transferred, low or no fees.
- Which bank should I choose?
Different banks cater to different customers. The Czech banking sector is quite developed and stable. There are large, international banks that offer a wide scale of products and boast experience and stability, but you may pay a bit extra on charges (Raiffeisenbank, CSOB, Česká Spořitelna, Komerční banka etc). If you are looking for low fees and you don’t need any special services, consider one of the low-cost banks (Equa, Fio, mBank, Air Bank, etc). Identify your needs, browse their websites, and find out which one of them suits you best.
- Are the banks here English-friendly?
Most of them are, but to a different degree. Some have a website in English, some don’t. Make sure their internet banking services are in English, too.
Banks with English web/app: Raiffeisenbank, CSOB, Česká Spořitelna, Komerční banka, Equa, Fio
When you settle on a bank, call their shop in Brno in advance and make sure you will be able to meet an English-speaking banker.
- How do I open an account?
Once you’ve picked a bank that suits you, walk into any of their offices in the city to open the account. Or better yet, call the closest office in advance to set up a meeting with an English-speaking clerk.
Some banks allow opening a bank account on-line.
To open an account, you will need two personal identifications – passport and another form of identification (driving license or similar). Official residence permit, work contract, or student card, might be required too, so take it with you. Many banks ask for a deposit when opening the current account (usually from 100 to 1000 Kc). As most of the banks send an authorization code to your mobile to confirm internet banking transactions, it is important to have a functional Czech phone number.
You can find more information about obtain one in our guide Phone card.
- What should I be aware of when opening an account?
Check the list of fees the bank will be charging you for their services. Some of them might not be standard in your country, so avoid surprises in the future (for example, most banks charge you a monthly fee for simply having the account).
Some contracts will include ‘preferential conditions’ which frees you from some fees if you reach a ‘minimum monthly transfer limit’. Make sure it is indeed your plan to be transfering (into and from your account) this amount of money every month to enjoy the free services.
- I need to make international money transfer. What should I do?
Use specialized providers for international money transfers, it is cheaper and with no hidden fees. A well-known international provider is transferwise.com. A Czech localised service is devizy.cz (run by Fortissimo co. Ltd). They offer very good exchange rates and depending on amounts transferred, low or no fees.
General info
When living and working in Brno you will most probably need to set up a bank account. What makes you decide which bank to go for? The Czech banking sector is quite developed and stable. It is an open market and you can shop around.
