Most branches in the Czech Republic are staffed by Czech-speaking employees, so it is advisable to have someone who can communicate in the local language. In this case, we can support you. We are mobile and provide interpreting services throughout the Czech Republic and Slovakia.
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Bank Account in the Czech Republic or Slovakia
A bank account in a Czech or Slovak bank can offer you a number of advantages. It is especially useful if you frequently stay in these countries or plan to save or invest abroad. For companies, it provides a convenient payment method for local clients and suppliers. This is particularly true for the Czech Republic, where the official currency is the Czech crown (CZK).
The banking system is similar to that in Poland and consists of a central bank (CNB) and commercial banks. Today, foreign capital controls over 80 % of all assets in the Czech banking sector. The most popular bank in the Czech Republic is Česká spořitelna, which has a long history and was originally Czech. Since 2000, it has been owned by the Austrian Erste Group, which is also becoming known in Poland thanks to its strategic 49 % stake in Santander Bank Polska.
Account Opening Process
There are various types of bank accounts, categorized according to different criteria. Based on ownership, accounts can be divided into personal and business accounts. For individuals, opening an account can usually be completed during a single meeting at the bank. For business accounts, it is first necessary to undergo AML verification. If the verification is successful, you can visit the bank a second time to complete the account opening process.
Each bank has its own internal procedures for opening an account. These procedures are constantly being updated, which is why we regularly provide you with the latest information on account opening requirements. In the Czech Republic and Slovakia, a bank account can only be opened in person, as online account opening for foreign clients is not possible.
How we can support you
There are certain things that, as a company or an individual, you cannot arrange in the Czech Republic or Slovakia without knowledge of the local language. You may encounter difficulties when handling formal matters at offices or banks. The main problems include:
- lack of knowledge of the local language,
- lack of knowledge of local laws,
- lack of familiarity with the environment and customs in the Czech Republic and Slovakia.
Dealing with a bank can be lengthy and inefficient, especially if you are not familiar with the local language and customs. There is also a risk of misunderstanding, as Czech or Slovak are not the same as Polish. Bankers, especially in smaller towns, often do not speak English, which limits your communication options. That is why we are here to support you at every stage of opening a bank account in the Czech Republic or Slovakia. We will handle all contact with the bank on your behalf, and you will receive clear instructions from us on which documents to bring to the meeting. This way, you avoid additional stress from the unknown and arrive at a prepared appointment ready to sign the documents.