COREDO > Opening a Bank Account in the Czech Republic

Opening a Bank Account in the Czech Republic

Opening a Bank Account in the Czech Republic with COREDO

The Czech Republic is a member of the European Union with a well-developed and stable banking system, making it an attractive jurisdiction for opening corporate and personal bank accounts. Czech banks offer competitive service conditions, support SEPA and SWIFT transfers, and provide a wide range of digital banking services. COREDO has been providing professional assistance with opening bank accounts in the Czech Republic since 2016, ensuring comprehensive client support at every stage of the process.

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Cost of the service
from 700 EUR

Banking System of the Czech Republic

The banking system of the Czech Republic is regulated by the Czech National Bank (Česká národní banka, ČNB), which serves as the central bank, financial market regulator, and resolution authority. ČNB supervises the banking sector, capital markets, insurance industry, pension funds, credit unions, and electronic money institutions. The primary legislative act governing banking activities is the Act on Banks (Zákon o bankách).

According to ČNB data, as of January 2026, there are 42 banks and branches of foreign banks operating in the Czech Republic. The banking sector accounts for approximately 75% of the country’s financial system. The largest banks are Česká spořitelna (part of Erste Group), Komerční banka (Société Générale), ČSOB (KBC Group), and UniCredit Bank. Czech banks are characterised by high capitalisation with a low average loan-to-deposit ratio and robust liquidity buffers. According to IMF assessments, the Czech banking system remains resilient even under significant stress scenarios.

As an EU member state, the Czech Republic implements European banking directives and regulations, including CRD VI, CRR III, and DORA (the Digital Operational Resilience Act), which entered into force in January 2025.

Types of Bank Accounts

The following main types of bank accounts are available in the Czech Republic:

A corporate bank account (podnikatelský účet)

is designed for legal entities and is used for conducting commercial activities, processing payments with counterparties, paying taxes, and managing working capital. The account is opened in CZK and EUR with online banking, SEPA, and SWIFT payment capabilities.

A payment institution account

is opened at licensed payment institutions regulated by ČNB in accordance with the Payment System Act (Zákon o platebním styku), which implements PSD II. It is suitable for companies that require prompt access to payment services within the European Economic Area.

A personal bank account (osobní účet)

is opened for individuals and is used for receiving income, making everyday payments, and managing personal finances. Czech banks provide debit and credit cards, mobile banking, and the ability to make payments by phone number.

Client Requirements

Opening a bank account in the Czech Republic is governed by the Anti-Money Laundering Act (Zákon č. 253/2008 Sb., o některých opatřeních proti legalizaci výnosů z trestné činnosti a financování terorismu). Banks are required to perform customer due diligence (CDD) when a client intends to carry out a transaction exceeding EUR 1,000, when establishing business relationships, and when suspicious transactions are detected.

For legal entities, banks verify the company name, registered office, identification number (IČO), information about members of the statutory body, ownership structure, and data on ultimate beneficial owners. To open a corporate account, it is generally necessary to provide an extract from the Commercial Register (výpis z obchodního rejstříku) dated no more than three months prior, as well as the personal attendance of a director with an international passport.

For individuals, it is necessary to provide a name, surname, date of birth, place of birth, permanent or other residential address, and citizenship. EU citizens present an identity card or passport; third-country nationals additionally provide a residence permit or visa valid for at least 90 days, along with proof of connection to the Czech Republic (employment contract, enrolment certificate, or lease agreement).

Enhanced due diligence (EDD) applies to clients from high-risk countries, politically exposed persons (PEP), and in cases of complex or unusual transactions.

Account Opening Process and Timelines

The process of opening a bank account in the Czech Republic through COREDO includes the following stages:

Client Analysis (preliminary screening).

COREDO specialists analyse the client’s profile, identify suitable banks and account types, and assess the likelihood of approval based on specific bank requirements. At this stage, primary information about the company or individual is collected and verified.

01

Document preparation.

A complete document package is prepared in accordance with the requirements of the selected bank. For legal entities, the following are prepared: an extract from the Commercial Register, incorporation documents with an apostille (if issued abroad), notarised copies of passports of directors and beneficial owners, proof of address, and a description of the business model and sources of funding.

02

Application submission and bank liaison.

COREDO submits the documents to the bank and ensures communication between the client and bank specialists at all stages of application review.

03

Verification and account opening.

The bank reviews the submitted documents and conducts KYC procedures. Some Czech banks carry out extended verification of new clients within 5 to 10 business days. Upon successful completion of verification, the account is opened and account details are provided to the client. The minimum deposit depends on the specific bank.

04

Standard timelines for opening an account at Czech banks range from 1 to 10 business days, depending on the client type, completeness of the documentation package, and the bank’s internal procedures.

COREDO Service Fees

Legal Entities

Stage	Fee
Stage 1 — Client Analysis (preliminary screening)	EUR 300 + VAT
Stage 2 — Bank corporate account	EUR 2,000 + VAT
Stage 2 — Payment institution account	EUR 1,500 + VAT
Opening deposit	EUR 1,000
Total	from EUR 1,800 to EUR 2,300 + VAT

Individuals

Stage	Fee
Stage 1 — Client Analysis (preliminary screening)	EUR 200 + VAT
Stage 2 — Bank account	EUR 1,000 + VAT
Stage 2 — Payment institution account	EUR 500 + VAT
Opening deposit	EUR 400
Total	from EUR 700 to EUR 1,200 + VAT

The fee depends on the account type — a bank corporate account or a payment institution account. Stage 1 (Client Analysis) is paid in advance and includes analysis of the client profile, risk assessment, and selection of the optimal banking solution. The opening deposit is paid upon submission of the application to the bank and is refunded in case of rejection.

Required Documents

To open a corporate bank account in the Czech Republic, the following documents are generally required:

An extract from the Commercial Register (výpis z obchodního rejstříku) dated no more than three months prior. For foreign companies, an equivalent extract from the register of the country of incorporation with an apostille or consular legalisation.

Incorporation documents of the company (articles of association, memorandum of association) with an apostille if the documents were issued outside the Czech Republic.

International passports of directors and ultimate beneficial owners — originals or notarised copies.

Proof of residential address of directors and beneficial owners (bank statement, utility bill) dated no more than three months prior.

A description of the company’s business model, including sources of revenue, geographical scope of activities, and expected transaction volumes on the account.

Information on the ownership structure indicating the ultimate beneficial owners.

For individuals: passport or identity card, proof of residential address, information on sources of income. Non-residents additionally provide a residence permit or visa.

Advantages of Working with COREDO

COREDO, which has been operating in the legal and consulting services market since 2016, possesses deep expertise in opening bank accounts in the Czech Republic. The company’s headquarters is located in Prague, providing direct access to the Czech banking market and prompt interaction with financial institutions.

The COREDO team conducts a preliminary analysis of the client’s profile and selects the bank with the highest likelihood of application approval. Specialists support the client at every stage — from document preparation to receiving account details. Experience working with dozens of Czech and European banks allows COREDO to anticipate the requirements of specific financial institutions in advance and minimise the probability of rejection.

COREDO ensures full compliance with AML/KYC requirements, assists with properly preparing documentation on sources of funding and the business model, which significantly accelerates the completion of bank reviews.

Contact us

Our Experts

Pavel Kos

Head of Legal at COREDO. Has been with the company since June 2017, heading the legal team since July 2020. Specialises in banking law, account opening, and corporate structuring.

Daniil Saprykin

Head of Customer Success at COREDO. Coordinates the process of client interaction with banking institutions and ensures prompt feedback at every stage of account opening.

Frequently Asked Questions

Can a bank account be opened in the Czech Republic without personal attendance?

For the majority of Czech banks, the personal attendance of a company director is a mandatory requirement when opening a corporate account. Some banks allow remote account opening for individuals who are EU citizens; however, additional verification measures may apply in such cases. COREDO will help identify the bank with the most convenient conditions for the client’s specific situation.

What currencies are available for bank accounts in the Czech Republic?

Czech banks open accounts in Czech koruna (CZK) and euro (EUR), as well as other major currencies (USD, GBP). Multi-currency accounts allow for currency conversion and international payments via SEPA and SWIFT.

What are the application review timelines for account opening?

With a complete documentation package and compliance with bank requirements, account opening can take from one business day for standard cases to 10 business days when extended client due diligence is required. COREDO facilitates the acceleration of the process through preliminary preparation and review of all documentation.

Is an apostille required on documents for account opening?

Documents issued outside the Czech Republic generally must be certified with an apostille in accordance with the Hague Convention of 1961. This applies to incorporation documents of the company, register extracts, and notarised copies. COREDO advises clients on document legalisation requirements and helps ensure their compliance with standards.

What are the advantages of opening a bank account in the Czech Republic compared to other EU jurisdictions?

The Czech Republic combines EU membership, a stable and well-capitalised banking system with 42 banks, competitive service conditions, and low interest rates on loans. COREDO’s location in Prague provides direct access to the Czech banking market and prompt resolution of matters on the ground.

Submit Application

For a consultation on opening a bank account in the Czech Republic, contact the COREDO team. Our specialists will conduct a preliminary analysis, select the optimal banking solution, and provide professional support at every stage.