For living and working in the Czech Republic, you will probably need a Czech bank account. Your employer may require you to have a Czech bank account to send your salary. Whatever your reasons, opening a bank account is very easy and many banks offer online account opening with online authorisation.
When opening the bank account, you will need 2 personal documents – ID card, passport or driving licence. Also, a residence permit or student card may be required. Many banks require a deposit when opening a new account. Some banks require you to have a Czech phone number for authorisation codes.
The Czech banking sector is stable and you can choose from large international banks to smaller Czech banks. First, identify your needs and do a little research on your own. Almost every bank has a website in English and before visiting their branch you can set up an appointment with English speaking staff.
Additionally, if you are planning to do a lot of international money transfers, double-check the price list of Czech banks. Some of them already have free-of-charge credit and debit euro payments. You can also check offers of so-called “Neo-banks” such as Revolut (which has a very good currencies exchange rate), N26 or Monese. For a simple money transfer, you can use TransferWise.
List of selected banks:
You don’t need to change a lot of cash, in most places you can pay by card. Please try to avoid Euronet ATM (big charges).
You can always check the current rate of the Czech koruna on the official website of the Czech National Bank and thus check the deviation from the offered rate by exchange office.