
The Czech Republic has a well-developed banking system with numerous banks operating in the country.
The largest bank in the Czech Republic is ČSOB, which was founded in 1860 and has over 2,000 branches across the country.
Some of the other major banks in the Czech Republic include Komerční banka, Česká spořitelna, and UniCredit Bank Czech Republic and Slovakia.
These banks offer a wide range of banking services, including personal and corporate banking, online banking, and mobile banking.
The Czech Republic is a member of the European Union and the Eurozone, which means that the Czech koruna is pegged to the euro and can be exchanged for euros at a fixed rate.
As a result, many Czech banks offer euro-denominated accounts and credit cards, making it easy for tourists and expats to manage their finances while in the country.
List of Banks
If you're looking to open a bank account in the Czech Republic, you'll want to consider the top banks in the country.
Česká Spořitelna is the largest bank in the Czech Republic, with a total asset value of 1,329.223 billion CZK in 2017.
Československá Obchodní banka (ČSOB) is the second-largest bank, with a total asset value of 1,315.590 billion CZK in 2017.
Here is a list of the top banks in the Czech Republic, ranked by their total assets:
Most of the top banks in the Czech Republic have their operational headquarters in Prague, including Česká Spořitelna, ČSOB, Raiffeisenbank, and Komerční Banka.
UniCredit Bank Czech Republic and Slovakia is the only bank in the top 5 that doesn't have its operational headquarters in Prague, but it still has a significant presence in the city.
Top Banks in Czech Republic
The Czech Republic has a highly concentrated banking sector, with many retail and universal banks to choose from. Most of them are headquartered in the capital city Prague.
To open a bank account in the Czech Republic, you'll typically need to provide proof of ID, such as your passport, and possibly two forms of ID. You may also need to show your visa or residency paperwork, as well as proof of address.
Some banks in the Czech Republic have a reputation for being easy to work with, such as Česká Spořitelna, which has been ranked as the largest bank in the country by total assets. In 2017, Česká Spořitelna had a total of 1,329.223 billion CZK in assets.
Here are the top 5 banks in the Czech Republic by total assets in 2017:
MONETA Money Bank is another popular option, offering a range of products including loans, mortgages, and savings accounts. It's also worth noting that some banks, such as ČSOB, have a long history in the country, dating back to the 19th century.
Other Banks
If you're looking for more options beyond the top 10 banks in the Czech Republic, there are several other notable banks worth considering.
Česká Spořitelna has its operational headquarters in Prague, just like many of the top banks.
Československá Obchodní Banka (ČSOB) also has its operational HQ in Prague, making it a significant player in the market.
Raiffeisenbank has its operational HQ in Prague, as do many other banks on the list.
Here's a brief overview of some other banks in the Czech Republic:
These banks all have their operational HQs in Prague, which is a hub for financial activity in the Czech Republic.
Banking Information
Opening a bank account in the Czech Republic is pretty straightforward, as long as you have the right documents.
You'll usually need to provide proof of ID, such as your passport, with some banks asking for two forms of ID. This is a standard requirement across most banks.
Proof of address is also typically required, but the specific documents needed may vary between banks. Some banks may be more flexible than others.
If you're opening a student account, you'll need to provide proof of study in addition to the standard documents.
Frequently Asked Questions
Which bank is best for foreigners in Czech Republic?
For foreigners in the Czech Republic, Raiffeisenbank, AirBank, and ČSOB are top options, each with their own advantages and disadvantages. Watch the video to learn more about the best bank account for your specific needs.
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