Czech Bank Account

Opening a student bank account in the Czech Republic should be a fairly straightforward task with no special limitations. Majority of the banks provide internet and mobile banking, as well as a debit card (VISA or MasterCard) together with the bank account.

Student bank account offers some benefits that normal current accounts don’t, e.g. free account management, no excessive bank fees, bonuses etc.).

Given the current situation we recommend opening an account online, if possible. Otherwise, due to the possible language barrier, we recommend asking your Buddy to visit the bank branch with you, or visiting a branch located in the city center.

 

Generally required documents

  • Valid passport
  • Another identification documents (e.g. national ID card or driver’s license)
  • ISIC card issued by a Czech education institution
  • Initial minimum deposit (varies from bank to bank, usually between CZK 200 and CZK 2 000)

Banking Institutions

There are many options on the Czech market. The decision is up to everyone depending on each one’s preferences. We recommend doing a research on each bank’s conditions beforehand.

Some institutions offer possibility to open a bank account online, or to begin the process of opening an account online. Usually, it is still necessary to visit the branch to finalize the process.

The table below shows a list of banking institutions offering Student accounts with a brief summary of their conditions and benefits.

Institution Product name Conditions, services, benefits etc.
Česká spořitelna (ČS) Account for Students
  • Free account maintenance
  • All electronic payments in CZK free of charge
  • SEPA payments (electronic payments within the EU) free of charge
  • Withdrawals from ČS ATMs free of charge
  • Withdrawals abroad from Erste Group ATMs free of charge
  • Mobile and internet banking “George”
  • Mobile phone payments – Apple Pay and Google Pay
  • Contactless debit card
    • Choose an original look for your card
Komerční banka (KB) G2 Student Account
  • Free account maintenance up to 30 years of age
  • All electronic payments in CZK free of charge
  • SEPA payments (electronic payments within the EU) free of charge
  • Withdrawals from KB ATMs free of charge
  • One withdrawal/month abroad
  • Mobile internet banking application “MojeBanka”
  • Mobile phone payments – Apple Pay, Google Pay, Garmin Pay, Fitbit Pay
  • Possibility to buy EASY travel insurance
  • Contactless debit card
    • Personalized picture on your G2 card
  • Bonus: “Open a G2.2 student account and get a bonus of up to CZK 700″
    • A bonus of CZK 350 for the presentation of a valid ISIC card issued in the Czech Republic (anytime)
    • A bonus of CZK 350 for opening and activating an account in the period from September 1, 2020, to October 31, 2020
    • The bonus is paid only to an active account on which at least one banking operation took place (e.g., incoming payment by October 31, 2020)
Raiffeisenbank

Account for Students and Children – Active account

  • Free account maintenance
  • Unlimited number of cash withdrawals from ATMs of all banks in the Czech Republic and abroad
  • Unlimited number of EUR foreign payments within the EU
  • Multi-currency account = Up to 19 currencies under one account number (CZK, EUR, USD, GBP, CHF, JPY, CAD, PLN, HUF, …)
  • Mobile internet banking via “Mobilní eKonto” application
  • Mobile phone payments – Apple Pay, RaiPay
  • Two international contactless payment cards
  • Bonus: “Create an ACTIVE account for students and children by September 30, 2020 and we will deposit a one-time bonus of CZK 555.” (students up to 26 years of age)
    • You need to pay by the given debit card at least once by October 31, 2020
    • Bonus will be paid by November 15, 2020
ČSOB

Plus Account

  • Free account maintenance up to 26 years of age
  • Withdrawals from ČSOB ATMs free of charge
  • Mobile internet banking via “Smartbanking” app
  • Mobile phone payments – Apple Pay, Google Pay, Garmin Pay
  • Contactless debit card
  • Bonus: “Earn CZK 1 000 with a youth account” (up to 26 years of age)
    • Create an account by September 30, 2020
    • Activate mobile banking in the Smartbanking app latest 30 days after creating the account
    • Make a payment by the debit card, mobile payment or smartwatch latest 30 days after creating the account
    • Bonus will be paid by 60 days after meeting all conditions

Moneta Money bank

Student Account
  • Free account maintenance up to 26 years of age
  • Withdrawals from Moneta ATMs free of charge
  • Internet and mobile banking
  • Mobile phone payments – Apple Pay, Google Pay
  • Contactless debit card

UniCredit bank

Youth account (Účet pro mladé – U konto)
  • Free account maintenance up to 26 years of age
  • Cash withdrawals from ATMs of all banks in the Czech Republic and abroad
  • All electronic payments in CZK free of charge
  • Internet and mobile banking
  • Contactless debit card

Closing a Bank Account

As a client you have a right to terminate a bank account contract. In general the notice period is 30 days but please inform yourself at the bank branch for detailed conditions of closing a bank account.

Bank Account Information in InSIS

Bank account information needs to be filled in InSIS for the purpose of possible transferring of scholarship or any other financial grant. The bank account must be of a Czech financial institution.

Currency in which scholarship is paid is CZK.

Some of you might be familiar with a “Revolut” card. Unfortunately, we are not able to deposit money to the Revolut debit card, as we need a Czech bank connection to do so. Examples of Czech bank account number format are (last 4 digits indicate a bank’s code):

  • 123-1234567890/0100
  • 123465789/0300

To be able to receive the financial support in November, you will need to upload your bank account number by October 15, 2020.

 

How to fill in the bank account in InSIS:

  1. My College –> Student’s portal –> Bank accounts
  2. Select Purpose of bank account: For benefit pay-out
  3. Fill in all information including the name and address of the bank account owner