Czech Republic – Banking

What are the main banks in Czech Republic?

The Czech Republic currently has 49 credit institutions in operation, all holding licences issued by the Czech National Bank. The sector is mature and resilient, featuring a combination of domestically rooted and foreign-owned banks that collectively serve individuals, businesses, and institutional clients across the full range of financial products.

Česká spořitelna holds the position of largest bank in the country by total assets, recording 2,030 bln CZK in assets and a market share of 19.74% as of 2024. The bank serves approximately 4.7 million customers through 517 branches and 1,700 ATMs, and functions as a subsidiary of Erste Group Bank AG. More information is available at csas.cz.

Československá obchodní banka (ČSOB) was originally founded as a state institution in 1964 and became part of Belgium’s KBC Group in 1999. It operates as a universal bank delivering a comprehensive spectrum of retail, corporate, and investment banking solutions to private individuals, small and medium enterprises, and institutional clients. ČSOB has received Global Finance’s Best Bank designation for the Czech Republic for six consecutive years. Current details are available at csob.cz.

Komerční banka was established in 1990 and has formed part of France’s Société Générale Group since 2001. The bank functions as a universal commercial institution, covering retail, private, corporate, and investment banking. Visit kb.cz for further details.

Raiffeisenbank is affiliated with the Austrian Raiffeisen Group, which has maintained a presence in the Czech Republic for more than 140 years. The bank employs over 2,700 staff and serves around 400,000 customers through a network of roughly 130 branches. See rb.cz for current information.

Other significant institutions include MONETA Money Bank (moneta.cz), Air Bank (airbank.cz), Fio banka (fio.cz), and Banka CREDITAS (creditas.cz). Czech banks provide services spanning retail banking, private banking, business and corporate banking, investment banking, and international banking.

The authoritative and current list of all licensed banking institutions in the Czech Republic is published by the Czech National Bank. Always confirm contact details and the scope of services directly with each institution.

Do any major international banks operate in Czech Republic?

The Czech banking market is characterised by strong international participation, with a broad selection of both domestic retail and globally recognised institutions available to customers. The widest variety of options is found in major urban centres, particularly Prague. It is worth noting that many of the country’s largest retail banks already operate as subsidiaries of international banking groups, so expats will find themselves in a market that already reflects international standards.

Institutions with a presence in the Czech Republic — whether in branch, subsidiary, or representative form — include UniCredit Bank Czech Republic and Slovakia (majority owner: UniCredit), Bank Gutmann, Bank of China (Hungary), Bank of Communications, BNP Paribas Fortis, BNP Paribas Personal Finance, Citibank Europe, Commerzbank, Deutsche Bank, HSBC Bank, ING Bank, mBank, and a number of others.

Citibank maintains both a global footprint and a presence within the Czech Republic. UniCredit Bank Czech Republic and Slovakia provides a full range of services for personal customers, encompassing various account types, loan products, mortgages, insurance, and investment options. Visit unicreditbank.cz for current information.

The presence and scope of international banks can shift over time — branch offices may be converted to representative or wholesale functions, or retail services may be scaled back or withdrawn entirely. Always verify the current retail availability of any international institution directly with that bank or through the Czech National Bank’s official register.

Do banks in Czech Republic offer accounts or services specifically for expats?

While it is uncommon for Czech banks to market a product explicitly under the label of an “expat account,” a number of institutions provide international services and dedicated support tailored to foreign residents. Banks with particularly notable foreign-friendly offerings and multilingual capabilities include UniCredit Bank, Komerční banka, and Raiffeisenbank.

UniCredit Bank stands out within the Czech market by operating an International Clients Center (ICC) at its Prague headquarters on Náměstí Republiky. The ICC offers a complete range of banking services in five languages — English, German, French, Italian, and Russian — delivered by a team of seven specialist bankers. This facility is especially valuable when complex financial or documentation matters need to be discussed in detail.

Fio Banka is a fully Czech-owned institution with a nationwide branch network, recognised for keeping banking costs low. It provides both current and savings accounts for personal customers, with its Fio Current Account standing out as a popular choice. This account can be opened in multiple currencies, carries no fees for standard transactions, and includes a debit card.

MONETA Money Bank offers a wide portfolio of products, including loans, mortgages, savings accounts, and term deposits. The Tom Plus Current Account is its most sought-after personal banking product, offering a debit card and fee-free ATM withdrawals.

Among the most common requests from expat clients are premium debit cards with elevated payment limits and built-in travel insurance, or credit cards — which tend to be more popular among foreign customers than among Czech nationals. Obtaining a credit card as a newcomer to the country can involve a waiting period; many banks require up to three months of payslip history as income verification, partly because recovering funds from an individual who departs the country is inherently more complex.

Account fees, eligibility criteria, and any minimum balance conditions should be confirmed directly with each bank. Terms are revised periodically, and the information above should always be checked before making a final decision.

What are typical bank opening hours in Czech Republic?

The majority of Czech bank branches are open on weekdays, typically between approximately 08:00 or 09:00 and 17:00 or 18:00. Exact hours vary between banks and individual branches, and some city-centre or shopping-centre locations may offer slightly longer opening windows. Saturday service is available at selected branches, particularly in larger shopping centres in cities such as Prague, Brno, and Ostrava, but this is far from universal. Banks are generally closed on Sundays and on official Czech public holidays.

Leading banks such as Česká spořitelna, ČSOB, and Air Bank have developed feature-rich mobile applications offering instant payments, biometric authentication, budgeting tools, and links to government services. These digital platforms mean the overwhelming majority of routine banking tasks — transfers, bill payments, balance enquiries, and even applications for certain products — can be completed at any hour without a branch visit.

Telephone banking is widely available from most major banks, with dedicated customer service lines operating during extended business hours. ATMs are accessible throughout the country, located at bank branches, metro stations, post offices, and many other venues. Machines typically accept Visa, EuroCard, MasterCard, Maestro, and American Express, and most allow users to select their preferred language. Always confirm the operating hours of your particular branch in advance, as variations exist across different regions and locations.

What do expats need to know about the banking system in Czech Republic?

Currency: The Czech Republic has not joined the eurozone. The country’s official currency is the Czech koruna (CZK), meaning that rent, groceries, utilities, and everyday purchases are all priced and settled in CZK. Expats receiving income from abroad or sending money overseas need to account for currency conversion costs. The Czech Republic holds EU membership but conducts its own monetary policy through the Czech National Bank.

Deposit protection: Czech banks participate in a national deposit guarantee scheme protecting balances up to €100,000 per bank per depositor (as of 2025). This level of protection is broadly in line with the safeguards offered across much of Europe — comparable in scope to the UK’s Financial Services Compensation Scheme (FSCS) and the EU-wide Deposit Guarantee Schemes Directive, although the administrative structures differ. For the most current information, consult the Czech National Bank.

Foreign ownership of banks: A significant proportion of Czech banks are owned by or are subsidiaries of international groups. Major institutions such as Česká spořitelna (Erste Group), ČSOB (KBC), and Komerční banka (Société Générale) are closely integrated with broader European banking networks, offering expats a degree of familiarity and institutional stability.

Language barriers: Not every Czech bank branch has staff capable of serving customers in languages other than Czech, and some branches have limited experience processing account applications from foreign nationals. Be prepared to visit more than one branch if necessary. Banking contracts and formal documentation are routinely issued in Czech. Certain institutions — most notably UniCredit at its ICC — provide dedicated multilingual service, which is worth seeking out.

Fees: Czech banking generally operates on a fee-charging model. Activities ranging from card issuance to ATM withdrawals typically carry associated charges. This may come as a surprise to expats accustomed to markets where free current accounts are commonplace. Comparing the fee schedules of different banks before committing is strongly advisable, as costs vary meaningfully between providers.

Regulatory oversight: The Czech National Bank (ČNB) supervises the entire banking sector and also serves as the financial regulator for other segments of the financial services industry. Expats who encounter problems with a bank and cannot resolve them directly may escalate matters to the ČNB or to the Financial Arbitrator of the Czech Republic, an independent body established specifically to resolve consumer disputes with financial institutions.

How do I open a bank account in Czech Republic as an expat?

Having a local Czech bank account is effectively essential for anyone living, working, or studying in the Czech Republic on a long-term basis. Many employers insist on making salary payments to a domestic account, landlords frequently prefer rent transfers from Czech institutions, and managing utilities, mobile phone contracts, and public transport passes is considerably simpler with local banking arrangements in place. The following step-by-step guide outlines the account-opening process:

1. Research and choose your bank. The Czech Republic has a varied landscape of domestic and international banks offering different levels of service to foreign customers. While the basic account-opening process follows a similar pattern across most institutions, each bank sets its own terms and conditions. Evaluate factors such as branch accessibility, availability of multilingual staff, the structure of fees, and the quality of digital banking tools before settling on a provider.
2. Gather your documents. A valid passport is a non-negotiable requirement. Many banks will also request a secondary form of identification — a residence permit, national identity card, or driving licence. Evidence of your address, such as a tenancy agreement, utility bill, or Czech residence certificate, may also be required. Some institutions additionally ask for a local telephone number.
3. Check whether you need additional documentation based on your status. EU citizens may be asked to present a temporary residence certificate, while non-EU nationals should be prepared to supply a valid visa, employment contract, or confirmation of student enrolment. In addition to a residence permit, non-EU citizens are typically expected to provide a work contract, proof of study, or a signed lease as evidence of their ongoing presence in the country.
4. Explore online account opening options. A number of banks allow the process to be initiated remotely — Fio Bank, mBank, and ČSOB currently offer this facility — but completion in person is often still required. Some banks mandate a Czech national ID number (rodné číslo) before an online application can be finalised.
5. Visit the branch in person. Once your documents are assembled, attend your chosen branch. Account setup is generally straightforward for expats, but thorough preparation matters, as some branches are more experienced with foreign applicants than others. If possible, bring a Czech-speaking companion, or specifically seek out a branch that advertises multilingual assistance.
6. Make any required opening deposit. The majority of Czech banks impose no minimum deposit requirement. However, certain institutions may request a modest initial payment. Where applicable, this typically falls between CZK 200 and CZK 2,000 (as of 2025). Confirm this detail with your chosen bank beforehand.
7. Provide source-of-funds information. As part of the application, you will be asked to supply details of your residence registration in the country (if completed at the time of application) and information about the origin of your funds — for instance, employment income, business receipts, or personal savings. This is a standard anti-money-laundering obligation applied throughout European banking.
8. Set up online and mobile banking. As soon as your account is active, enrol in the bank’s online and mobile banking services. The major banks offer well-developed apps incorporating instant payment functionality, biometric security, and financial management features. Taking advantage of these tools dramatically reduces the need for in-branch visits during your day-to-day banking.

Always consult the relevant bank’s official website or the Czech National Bank for current requirements, as documentation rules and fee structures are subject to change. If navigating the process independently feels daunting, specialist banking advisers operate in the Czech Republic who can assist foreign nationals in setting up their accounts efficiently.

What banking and payment apps are widely used in Czech Republic?

Digital banking has transformed how people in the Czech Republic manage their finances. Adoption rates among both individuals and businesses are high and growing, and most established traditional banks have invested substantially in their mobile platforms alongside maintaining physical branch networks.

Česká spořitelna’s mobile banking application, known as George, streamlines everyday banking tasks and includes tools for tracking exchange rates and performing currency calculations. ČSOB, Komerční banka, Air Bank, and Raiffeisenbank all offer comparably capable applications, equipped with features such as real-time payment processing, card suspension controls, and in-app customer support.

Revolut has expanded its European bank to serve customers in the Czech Republic. Czech customers who upgrade to a Revolut Bank account benefit from deposit protection under a deposit guarantee scheme. The platform has so far attracted more than 300,000 customers in the country. It should be noted that Revolut Bank UAB is incorporated and licensed in Lithuania, meaning that funds in Revolut accounts are protected under Lithuanian deposit insurance, administered by the Public Institution Deposit and Investment Insurance in Lithuania.

Wise provides a multi-currency account, competitively priced international money transfers, and a debit card suited to cross-border spending. Its currency management capabilities make it a particularly practical tool in the Czech Republic. Expats commonly use Wise to receive foreign-currency salary payments and convert them into CZK at favourable rates.

PayPal operates in the Czech Republic and offers a trusted payment solution for secure transactions, broad merchant acceptance, and buyer protection. Other European fintech providers available in the country include Bunq, a mobile-first bank licensed in the Netherlands that offers personal and business accounts, and Vivid Money, a German mobile banking platform operating across the EU and catering to both personal and business customers.

All fintech and neobank operators in the Czech Republic must comply with EU financial regulations. Expats should bear in mind that deposit protection arrangements for fintech providers may differ from those governing traditional Czech banks — always establish which deposit guarantee scheme covers any account you hold. The Czech National Bank’s register of supervised institutions is the definitive reference for confirming which entities are legally authorised to operate.

How can expats manage money between Czech Republic and their home country?

Cross-border money management is a routine challenge for expats in the Czech Republic, compounded by the country’s use of the koruna rather than the euro. Any transfer to or from an account denominated in euros or dollars will involve a currency conversion, making it worthwhile to keep exchange costs to a minimum.

Bank transfers: All major Czech banks support SEPA transfers within the EU and EEA for low or zero-cost euro transactions, and SWIFT transfers for countries outside the SEPA zone. Some Czech banks impose charges for debit card use, withdrawals from machines outside their own network, and outgoing international transfers — so it pays to review your bank’s published fee schedule carefully and identify accounts offering favourable terms for cross-border transactions.

Specialist transfer services: Wise provides multi-currency accounts and international transfers at competitive rates, with users benefiting from transparency on costs and typically faster processing than traditional banks. Services such as Wise and comparable licensed payment providers generally offer more favourable exchange rates than high-street banks and are widely relied upon by the expat community. Always verify that any transfer service you use holds authorisation from a recognised financial regulator — within the EU, providers should be licensed by a national competent authority such as the Czech National Bank or an equivalent body in another member state.

Currency risk: Because the Czech Republic retains its own currency, expats who earn in CZK but carry financial obligations abroad — such as a mortgage denominated in another currency — face exposure to exchange rate movements. Financing arrangements in foreign currencies carry inherent risks, the most significant of which is currency volatility. If you have material cross-currency financial exposures, consulting a qualified financial adviser is prudent.

Reporting requirements: Czech tax residents are generally liable for Czech tax on their worldwide income. Holding foreign bank accounts or receiving income from overseas may give rise to reporting obligations with the Czech financial authorities (Finanční správa). Significant incoming international transfers may also trigger anti-money-laundering reviews by your bank, which is standard practice across EU member states. For guidance specific to your situation, consult the Czech Financial Administration or a qualified tax adviser. Rules governing tax residency and reporting thresholds can change, and current requirements should always be verified directly with the relevant authority.

Frequently Asked Questions

Can I open a Czech bank account before I arrive in the country?

Several banks allow you to begin the process online before arriving — Fio Bank, mBank, and ČSOB currently offer this option. However, you will often need to complete the account opening in person, and some banks require a Czech national ID number (rodné číslo) to complete the process remotely. Contact your chosen bank directly to clarify what can be done in advance.

What documents do I need to open a bank account in the Czech Republic?

A valid passport is mandatory. Many banks may also require a secondary form of identification, such as a residence permit, national ID, or driver’s licence. Proof of address — such as a lease agreement, utility bill, or Czech residence certificate — may also be needed. EU citizens may be asked for a temporary residence certificate, while non-EU citizens should provide a valid visa, work contract, or student enrolment confirmation.

Is the Czech Republic’s banking system safe?

The Czech Republic’s banking sector is well-developed and characterised by a high degree of stability. Banks in the Czech Republic participate in a deposit guarantee scheme that covers accounts up to €100,000 per bank per depositor (as of 2025). The sector is regulated by the Czech National Bank. Verify current deposit protection details at cnb.cz.

Does the Czech Republic use the euro?

The Czech Republic has not adopted the euro. The national currency is the Czech koruna (CZK). While you may encounter euro pricing in some tourist-heavy areas, all standard banking, salaries, and official transactions are conducted in CZK. Keep currency exchange costs in mind when receiving money from abroad or making payments overseas.

Are there banks in the Czech Republic that offer services in languages other than Czech?

UniCredit Bank’s International Clients Center in Prague provides a full suite of banking services in five languages: English, German, French, Italian, and Russian, staffed by seven specialist bankers. Other banks with multilingual support, particularly in English, include Komerční banka and Raiffeisenbank. Not all branches will have multilingual staff, however, so it is advisable to research specific branch capabilities before visiting.

How is deposit protection structured in the Czech Republic, and how does it compare to other countries?

The Czech deposit guarantee scheme covers accounts up to €100,000 per bank per depositor (as of 2025). This is broadly equivalent to the EU-wide standard established by the Deposit Guarantee Schemes Directive — comparable in limit to the UK’s FSCS (£85,000 per institution) and the US FDIC ($250,000 per institution), though the structure and funding differ. Full details are available from the Czech National Bank.

Can I use Revolut or Wise as my primary account in the Czech Republic?

Revolut has launched as a bank in the Czech Republic, and customers who upgrade to Revolut Bank have their deposits protected under a deposit guarantee scheme. Wise’s tools for managing finances across different currencies make it a practical payment solution in the Czech Republic. Both services are useful, particularly for international transfers, but neither offers the full range of services — such as Czech mortgage products or direct payroll integration — that a traditional Czech bank account provides. Many expats use both a local Czech bank account and a multi-currency fintech service side by side.

Are there minimum deposit requirements to open a bank account in the Czech Republic?

Most Czech banks do not require a minimum deposit, but some institutions may ask for a small opening amount ranging from CZK 200 to CZK 2,000 (as of 2025). Some of the most popular banks for foreign nationals — including Fio, Air Bank, and some others — allow accounts to be opened free of charge. Always confirm the current requirements directly with the bank you intend to use, as terms change regularly.