A list of the top banks in Czech Republic

Thinking of moving abroad to the Czech Republic? Perhaps you have big plans to start a business there, study at one of the country’s universities or get a job there.

One of the first things you’ll need to do is open a Czech bank account. But which bank should you choose? Read on for a handy list of the top 10 banks in the Czech Republic, plus details of their most popular current accounts.

We’ll start with a quick overview of banking in the country.

Banking in Czech Republic (an overview)

It may be a small country, but the Czech Republic has a strong and highly concentrated banking sector. There are many retail and universal banks to choose from, most of them headquartered in the capital city Prague.

Opening a bank account in the Czech Republic is pretty straightforward, as long as you have the right documents.

It varies between banks, but you’ll usually need:¹

• Proof of ID, such as your passport (some banks may ask for 2 forms of ID)

• Your visa or residency paperwork (not all banks will require this)

• Proof of address

• Proof of study (if you’re opening a student account)

You might also need to make an initial deposit.¹

Current accounts can come with monthly maintenance fees, and you might also have to pay for ATM withdrawals, depending on who you’re banking with.

If you need to manage your money internationally and want to save money, check out Wise instead.

Learn more about Wise 🚀

Top 10 banks in Czech Republic

Ready to start searching for a new bank account? Let’s take a look at the biggest and most popular banks in the Czech Republic, so that you can compare options:

Bank name	Operational HQ
Česká Spořitelna	Prague
Československá Obchodní Banka (ČSOB)	Prague
Raiffeisenbank	Prague
Komerční Banka (KB)	Prague
MONETA Money Bank	Prague
Fio Banka	Prague
Air Bank	Prague
UniCredit Bank Czech Republic and Slovakia	Prague
ČSOB Hypoteční Banka	Prague
Max Banka	Prague

Česká Spořitelna

Part of the Austria-based Erste Group, Česká Spořitelna is a universal bank providing both retail and corporate banking services. It’s one of the biggest banks in the Czech Republic by both assets and numbers of customers.

The bank has a handful of different current accounts to choose from, including the Standard Account. It has no fees for account management, payments or ATM withdrawals, comes with a debit card and both online and mobile banking.²

Česká Spořitelna also has a huge range of products and services for non-retail customers. This includes dedicated solutions for companies, entrepreneurs, non-profits, private banking customers and housing cooperatives.

Československá Obchodní Banka (ČSOB)

A former state bank, ČSOB was established back in 1964. It’s now part of the KBC Group based in Belgium, and offers a broad range of banking services for personal, business and corporate customers.

If you’re looking for a current account for everyday banking, the ČSOB Plus Account could be worth checking out. It gives you an instant virtual card, free withdrawals at the bank’s ATMs and post offices, and an optional linked savings account.³

For businesses, there are specialist solutions for companies and entrepreneurs, as well as big companies. ČSOB also offers premium and private banking.

Raiffeisenbank

A subsidiary of Raiffeisen Bank International, which operates in multiple countries across Europe, Raiffeisenbank has been a key player in the Czech banking market since 1993. It’s now one of the largest local banks there.

For personal customers, the bank’s Current Account without fees is a solid choice. It offers free ATM withdrawals, payment cards, mobile and internet banking.⁴

Raiffeisenbank also has business accounts, loans, overdrafts and vehicle financing, plus corporate and private banking.

Komerční Banka (KB)

Komerční Banka, commonly known as KB, is a part of the Société Générale Group based in France. It has had a presence in the Czech Republic since 1990, and is a universal commercial bank serving personal, private, business and corporate customers.

KB offers everyday banking services in the form of tiered tariffs. Each has a monthly charge and a bundled list of products and features. However, there is a free Start package, which comes with a current account and debit card.

For business customers, there’s a choice of accounts, loans (including special purpose loans), cards, savings and investments solutions and payments services.

MONETA Money Bank

Formerly known as GE Money Bank, MONETA Money Bank has a universal banking licence in the Czech Republic. It offers banking services and products to individuals, as well as SMEs.

MONETA has a long list of products, including loans, mortgages, savings accounts and term deposits. But its most popular solution is the Tom Plus Current Account, which comes with a debit card and free ATM withdrawals.⁶

It also has an online business bank account for SMEs and self-employed people, offering the same features.

Fio Banka

A fully Czech-owned company, Fio Banka has a network of branches across the country and is known for its low-cost banking services.

Fio Banka has a choice of current and savings accounts available for personal customers. A popular choice is the Fio Current Account. It can be opened in a choice of currencies, has no fees for standard services and comes with a debit card.⁷

There’s also a Fio Business Account offering the same features.

Air Bank

Air Bank launched in the Czech Republic in 2011, and today is part of the PPF Group - which operates across Europe, Asia and North America.

For personal customers, Air Bank has just one main Current Account. It has no maintenance fee, comes with both a physical and virtual debit card, and gives you free ATM withdrawals nationwide.⁸

There’s also a savings account, along with options for children and young people.

For businesses, Air Bank has a current account and a savings account, plus invoicing solutions.

UniCredit Bank Czech Republic and Slovakia

A member of the successful pan-European commercial bank UniCredit, the Czech arm of the company has been operating since 2007. It serves both retail and business customers, as well as offering private banking and wealth management services.

A popular choice for day-to-day banking at UniCredit Bank is its Start account. This comes with a virtual and physical debit card, online banking, free ATM withdrawals and even a linked savings account.⁹

The bank also has dedicated solutions for freelancers, SMEs and corporate clients, along with private and premium banking.

ČSOB Hypoteční Banka

Hypoteční Banka is a part of the ČSOB Group, and is one of the largest banks in the country in terms of assets. It is a specialised credit institution, only offering mortgages and related loans to personal customers. This means it doesn’t have any personal current accounts available.

Max Banka

Max Banka is owned by the Czech financial group CREDITAS, and was founded in 1991. It’s had lots of different names over the years, including InterBanka and Expobank CZ.

Today, Max Banka is a purely retail bank. It has savings accounts, term deposits, credit cards and insurance, but its flagship product is the Neo Account. This is a current account available in a choice of currencies, which comes with a debit card and can be opened online.¹⁰

Best online bank accounts and money management alternatives in the Czech Republic

As well as high-street banks, there are also a number of alternative ways available to manage your money in the Czech Republic.

Some of the most popular are:

• Revolut - an all-in-one finance app with a debit card and banking services.

• Bunq - a mobile-first bank licensed in the Netherlands offering personal and business accounts.

• Vivid Money - a German mobile banking platform available across the EU. It offers accounts and cards for personal and business customers.

Wise – Money for here, there and everywhere

If you want to send money internationally, or use your debit card when you travel, you’re probably looking for the most cost-effective way.

The good news is that there’s a money-saving alternative available from the money services provider Wise. Open a Wise account online, and you can send money worldwide in 40+ currencies for low fees and fair exchange rates. It’s not a bank account but offers many similar features.

You can even get an international debit card for spending in over 150+ countries, including the Czech Republic. It automatically converts your money to the local currency at the mid-market exchange rate, adding only a low, transparent conversion fee, whenever you spend.

This makes it ideal for travellers, expats, overseas students and anyone else living an international life.

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And there you have it - a list of the top banks in the Czech Republic. There are a decent number to choose from, many even offering fee-free accounts. So you should be able to find a good fit for your needs.

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Sources used for this article:

1. Foreigners - How to Open a Bank Account in Czechia

2. Česká Spořitelna - Standard Account

3. ČSOB - Plus Account

4. Raiffeisenbank - Current Account without fees

5. KB - Tariffs

6. MONETA - Tom Plus Current Account

7. Fio Banka - Current Account

8. Air Bank - Current Account

9. UniCredit Bank - Accounts

10. Max Banka - Neo Account

Sources last checked on 01-Apr-2024.