Guide to Opening a Bank Account in Czech Republic - Steps & Documents

Table of Contents

Description

What is it?

Opening a bank account is a process where an individual or an organisation establishes a banking relationship with a bank, making it possible to deposit, withdraw, or manage funds. In the context of the Czech Republic, a bank account provides access to a range of financial services including salary deposits, payments, savings, and investments.

Who needs it?

Anyone planning to stay in the Czech Republic for an extended time, either for work, study, or business purposes will benefit from opening a bank account. This includes both residents and non-residents.

Procedure

  1. Decide on the type of account: Current accounts are more suitable for daily financial activities while savings accounts focus more on generating interest over time.

  2. Research and select a bank: Look into different banks and their offerings. Some popular banks in the Czech Republic include ČSOB , Komercni Bank , and Moneta Bank .

  3. Visit the bank branch: Go in person to the bank of your choice to open the account. Some banks may also offer an online process.

  4. Complete an application form: The bank will require you to fill an account opening form where you’ll provide personal details like name, address, occupation, and identification details.

  5. Provide necessary documents: Identification documents such as passport or ID card will be required. Non-residents may need to provide additional documentation.

  6. Deposit an initial amount: You will be required to deposit some money to activate your account.

  7. Get confirmation: After the bank has verified your information and processed your deposit, they’ll give you confirmation and account details. You will also be provided with a debit card and other banking tools depending on the bank’s specific policies.

Required Documents

Typically, the following documents are necessary:

  • A valid identification document (Passport or ID card)
  • Confirmation of address (utility bill, lease agreement, etc.)
  • For non-residents: Residence permit or proof of staying in Czech

Providers that can do it for you

(We are currently curating the best providers. If you are or know a provider, please contact us or edit the page directly)

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Additional details

Some of these banks might require you to maintain a certain minimum balance in your account, and the banking services come with various fees, including for account maintenance and transactions. These specifics vary from bank to bank.

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