The Czech Republic sits in the EU, but not in the euro. That small fact shapes the whole banking experience. The Czech koruna, the crown, is the currency of daily life. Your account will be in crowns, your salary will arrive in crowns, and your landlord will ask for a Czech IBAN. The process is not complicated, but a few details trip up newcomers, starting with the phone number.
Do you need a bank account in the Czech Republic?
Technically no. In the SEPA area, an employer or a supplier that accepts domestic transfers and direct debits must also accept those from an account in another EU country. In practice, you will want a Czech account: salaries, rent, utilities, public transport passes and the tax office all work more smoothly in crowns.
If you keep your home account too, expect conversion costs. Your Czech bank cannot charge more for a euro transfer to another EU country than for a domestic transfer in crowns, according to Your Europe, and cash withdrawals within the EU must not cost more than withdrawals in the account holder's own country. Conversion fees must be displayed beforehand.
What do you need to open a Czech bank account?
EURES says banks usually ask for two pieces of identification and a Czech phone number, in a branch. Typical pairs are a passport and a national identity card, or an identity card and a driving licence. Many banks also ask for an address in the Czech Republic.
The phone number is the one that surprises people. Online banking and card payments are tied to it. A prepaid Czech SIM can be bought without ID as soon as you arrive. Buy it before you go to the branch.
The registration certificate is optional for EU citizens, but EURES notes that it makes dealing with banks easier. It is also a reminder to start the file early; see residence in the Czech Republic for EU citizens.
Can you open the account online from abroad?
Sometimes, but do not rely on it. Remote openings are often difficult because banks run strict anti-money-laundering checks, and many want to see you in person. A branch visit during your first week is the safest path. Book if the bank allows it, and bring originals.
Not sure which documents your bank will want for your situation, as an employee, a freelancer, a student or a retiree? Moovy can build a checklist for your case. It does not open the account; you do that in the branch.
Which bank should you choose?
Ask three questions before picking one. Does it offer an app in English, so that you can use your account without a Czech speaker? Does it let you log into state services with its identity, the bankovní identita? And what does it charge for the account, the card and transfers abroad? Banks publish price lists in Czech, but also usually in English; compare them in writing, because the same account can be free with a salary paid in and costly without it.
If you live in Prague, you will find branches of the main banks on almost every central street, and opening an account in a branch there is routine. In smaller towns, the branch network is thinner, so check the nearest one. Newcomers who want to open a bank account in Prague quickly often choose a large retail bank for the branch network, then add a digital bank later for cheaper foreign transfers. That is a reasonable pattern, as long as you read the fees.
The cheaper option is not always the best. If you plan to apply for a mortgage, ask the bank how it treats foreigners' incomes and what residence document it wants. A long relationship with one bank can help.
What if the bank says no? The basic payment account
If you are a legal resident in the EU, you have the right to a basic payment account, the základní platební účet, whatever your age. The Czech National Bank confirms it. The bank can refuse only on the grounds listed in the Payment Act (section 210 of Act 370/2017 Coll.), and it cannot discriminate against you when you open it (section 219).
The basic account offers at least the services of section 212: deposits, withdrawals, transfers, direct debits and a payment card. The law sets no fixed price, but the bank may charge at most the usual market price for these services, and a contractual penalty has no effect except for an overdraft. If a branch tells you "we do not open accounts for foreigners", ask for the basic account in writing, and ask for the refusal reason in writing too.
British citizens and others without legal residence in the EU do not have this right, and each bank decides.
How do you use your account day to day?
Cards and contactless payments are accepted almost everywhere, even in smaller towns. Carry a little cash all the same for small cafés, markets and villages, as VisitCzechia and EURES both advise. Many tourist shops accept euros but return change in crowns and use their own rate. Pay in crowns.
Most banks offer an app, and several allow you to log into state services with your bank identity. This bankovní identita can unlock the citizen portal and the e-services for the tax office and the social security administration. That is one reason to choose a bank with a good app.
Opening hours are limited: banks are closed on weekends and public holidays, and some public holidays also close large shops. See daily life in the Czech Republic.
How are your deposits protected?
Deposits are guaranteed up to 100,000 euros per person and per bank, expressed in crowns. If you hold more, spread it across banks.
What does banking for expats in Czechia cost?
Fees vary by bank and by package. The law sets no price for the basic payment account, only a ceiling at the usual market price, so ask for the price list before you sign. Typical items to compare are the monthly account fee, the card fee, the cost of a transfer abroad, the cost of cash withdrawals at other banks' machines and any minimum balance or salary requirement that makes the account free. Ask in particular whether the account stays free if you stop receiving a Czech salary, since many offers depend on it.
Keep your home bank informed that you are moving. Some banks close accounts of customers who no longer live in their country, or change the terms after a change of address, and it is easier to organise the transition yourself than to receive a letter after the fact. A bank account in the Czech Republic does not replace the old one at once; plan an overlap of a few months.
What are the common mistakes?
- Arriving without a Czech phone number. Many banks require one for online access.
- Paying in euros without thinking. The rate on the terminal is the merchant's, not the bank's.
- Closing the old account too soon. Keep your home account until your first Czech salary and your first rent payment have cleared.
- Counting on remote opening. Plan a branch visit.
- Forgetting a euro account if you are paid in euros. Your salary will be in crowns, but if you earn or save in euros or pounds you may want a second account. Compare fees.
What about a mortgage and credit?
A mortgage needs a longer relationship with the bank and proof of income and residence. Each bank sets its own conditions; ask several and compare. Without a rodné číslo, borrowing becomes hard; see the rodné číslo guide. If you are thinking of buying, read buying property in the Czech Republic first.
Whichever route you take, a bank account in the Czech Republic is a one-hour job once you have the documents. Rules and fees change; check the bank's own price list before you sign.