Czech Republic (CZ)
Czech Republic is a landlocked Central European parliamentary republic of 14 regions, home to the fairy-tale spires of Prague — one of Europe's best-preserved medieval capitals — as well as world-famous Bohemian crystal and glasswork, the birthplace of Pilsner lager, a thriving startup and tech scene anchored in Prague and Brno, and one of the lowest unemployment rates and most stable economies in the EU.
Banking in Czech Republic
Recommended banks, payment culture and credit score basics.
Czech Republic has a modern and competitive banking sector. Czech Republic is NOT in the Eurozone — all transactions are in CZK (Czech Koruna). The banking system is dominated by four large banks (Česká spořitelna, Komerční banka, ČSOB, Raiffeisenbank) plus challengers Air Bank and mBank which are particularly popular with expats. Fio banka is notable for offering completely free banking. Revolut and Wise are widely used for international transfers and multi-currency needs. Czech banking apps are modern and well-designed. IBAN format: CZ + 22 digits.
Recommended banks
Air Bank
EnglishMonthly fee: 0 CZK (free with active use)
Requirements: Czech residence required. Passport or ID + residence proof. Online application with video verification possible.
- + Known as the most expat-friendly Czech bank
- + Excellent app with English language option
- + Free account and low fees
- + Good customer service with English support
- + Free ATM withdrawals (conditions apply)
- + Competitive FX rates for card abroad
- + Popular recommendation in Prague expat communities
- - Fewer physical branches than larger banks — mainly Prague, Brno, and larger regional cities
- - Part of PPF Group (Czech financial group) — less internationally recognised parent than Erste or Société Générale
- - International SWIFT transfer fees: CZK 250–500 per outbound wire outside SEPA — Wise is significantly cheaper
- - Account requires Czech registered address — cannot open without Czechia residency documentation
Fio banka
Monthly fee: 0 CZK (completely free)
Requirements: ID/passport. Czech address. Can open online or at branch.
- + Completely free — no monthly fee, no minimum balance
- + Free unlimited SEPA transfers
- + Free ATM withdrawals from Fio ATMs
- + Well-regarded for simplicity and transparency
- + Good for budget-conscious expats
- - App and website primarily in Czech
- - Limited English language support
- - Fewer advanced features
Česká spořitelna
EnglishMonthly fee: CZK 69–199/month depending on account type
Requirements: Passport or ID. Czech address. In-branch or online.
- + Largest Czech bank — widest branch and ATM network
- + Part of Erste Group (Austria) — familiar to Central European expats
- + George app is well-designed and available in English
- + Good for salary accounts and direct debit setup
- + Mortgage and loan products widely available
- + Trusted institution — important for landlords and employers
- - Monthly fees of CZK 69–199/month apply depending on account tier — no permanently free account option
- - Less competitive on FX rates for international transfers — Wise is significantly cheaper for non-CZK conversions
- - Long branch queues at busy Prague and Brno locations — use the George app for most transactions
- - International SWIFT wire fees: CZK 200–500 per outbound transfer outside SEPA
Komerční banka
EnglishMonthly fee: CZK 59–149/month
Requirements: Passport or ID. Czech address. Online or in-branch.
- + Strong corporate and business banking
- + Part of Société Générale group (France)
- + Good app — English available
- + Wide ATM network
- + Good for business accounts (s.r.o., živnostník)
- - Monthly fees of CZK 59–149/month apply on most account types — no permanently free account
- - Customer service primarily in Czech — English support limited to key Prague and Brno branches
- - Account opening requires Czech address and in-person branch visit for non-EU nationals
- - International SWIFT fees: CZK 200–500 per outbound wire outside SEPA — Wise is cheaper for regular remittances
Revolut
EnglishMonthly fee: 0 CZK (Standard) or CZK 199+/month (Premium)
Requirements: Passport. Selfie verification. No Czech address required. No need to visit branch.
- + No Czech address required — open immediately on arrival
- + Excellent FX rates (CZK to/from any currency)
- + Multi-currency accounts (CZK, EUR, USD, GBP, etc.)
- + Full English app
- + Instant international transfers
- + Virtual card for online shopping security
- + Crypto and investment features
- - Lithuanian IBAN (LTxx) — not always accepted by Czech landlords or government
- - Not suitable as primary Czech banking account
- - Some Czech employers cannot process Revolut IBAN for salary
- - Limited cash access
mBank
EnglishMonthly fee: 0 CZK (with active use)
Requirements: Czech address. Passport or ID. Online application.
- + Very popular with expats for ease of use
- + English-language app available
- + Free international SEPA transfers
- + Good online banking interface
- + Low foreign transaction fees
- - App and website partially Czech-only for some specific features, notifications, and error messages
- - No physical branches — all banking is online or via call centre; in-person service not available
- - International SWIFT transfer fees: CZK 250–500 per outbound wire outside SEPA — Wise is cheaper for non-SEPA destinations
- - Customer service response times can be slower than traditional banks — primarily online chat and phone support
Payment culture
Czech Republic is predominantly card and contactless payment culture in cities. Credit and debit card (typically Visa and Mastercard) accepted virtually everywhere except very small local businesses. Contactless (bezkontaktní platba) is standard. Google Pay and Apple Pay supported by all major banks. SEPA instant payments (okamžitá platba) available. QR payment codes (QR platba) commonly used for invoices. Cash (hotovost) remains used by older population and in smaller towns, markets, and some tradespeople. Czech Republic uses CZK exclusively — EUR not accepted except in some tourist shops.
Cash access
Czech banks (Česká spořitelna, KB, ČSOB, Raiffeisenbank) have the widest ATM networks — free for account holders. Third-party ATMs in tourist areas charge fees: avoid. Most supermarkets (Albert, Billa, Kaufland, Lidl, Penny) offer cashback (výběr v hotovosti u pokladny) for free — often CZK 100–3,000. This is the best way to get cash for free if your bank has limited ATMs near you.
BRKI / NRKI Score
Czech Banking Credit Bureau (BRKI — Bankovní registr klientských informací) and Non-Banking Credit Register (NRKI). Check via crif.cz or bankovniregistr.cz. Also Solus (solus.cz) for utility and telecoms debts.
Free annual check: One free report per year under GDPR right of access at BRKI/NRKI (bankovniregistr.cz). Additional reports: CZK 250–400.
New arrivals have no Czech credit history — this can affect mortgage and major loan applications for 2–3 years. Building credit: get a Czech credit card (kreditní karta), use it regularly, pay in full. Banks check BRKI, NRKI, and Solus before approving loans. Being in Solus (utility or telecoms debt register) can block bank account opening.
International transfers
SEPA transfers (within EU/EEA) are free or low-cost at most Czech banks. SWIFT/IBAN transfers outside EU: typically CZK 200–500 per transfer. Wise (wise.com) offers excellent rates for CZK to/from other currencies. Revolut zero-fee for standard amounts within monthly limits. Czech banks' currency exchange rates for transfers are typically poor — use Wise or Revolut for FX. Check if your Czech bank charges for incoming international transfers (some do).