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.
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