Czech EMI or Bank Account 2022 ?

[CaLViN]

Hello,
I have searched on the forum but not been able to find out any up-to-date information on Czech accounts.

Do you have any idea about Czech providers ? Are there any bank accounts or EMIs that provide IBAN in Czech Republic with Remote account opening ?

Last edited: Aug 16, 2022

 

[void]

CaLViN said:
Hello,
I have searched on the forum but not been able to find out any up-to-date information on Czech accounts.

Do you have any idea about Czech providers ? Are there any bank accounts or EMIs that provide IBAN in Czech Republic ?
Click to expand...

All czech banks provide CZK and EUR (vast majority also USD) bank accounts with IBAN...
local EMIs are not any popular or used because there is simply no reason - you can have plenty of totally free personal accounts and banks are very relaxed compared to western countries

 

[Forester]

CaLViN said:
Are there any bank accounts or EMIs that provide IBAN in Czech Republic with Remote account opening ?
Click to expand...

IIRC, M-banka and FIO banka were offering a remote account opening some time ago; but I am afraid for Czech residents only. But especially M-bank is perhaps worth checking, it is a (very small) multinational so it might be possible to use (on-line) their branch in another country (depending of your residence) to obtain a Czech account. Otherwise, Intergiro can provide Czech IBAN (or, to be exact, a possibility to execute local payments in CZK) under some circumstances but I am unaware of details. Similarly it might be posible with Zen or some another Lithuanian EMIs but I definitely did not recall...

void said:
local EMIs are not any popular or used
Click to expand...

To the best of my knowledge, I am unaware of any Czech EMI that offers personal IBANS. AFAIK, there are 2-3-4 offering payments processing but with shared accounts. But IMO they are relatively popular with the businesses because of FX rates.

void said:
you can have plenty of totally free personal accounts
Click to expand...

Correct.

void said:
and banks are very relaxed compared to western countries
Click to expand...

It depends on a particular bank but I would not use the word “very“. I do not have a lot of personal experience with Czech banks in the last years but I would say that for example KYC/AML burden is roughly the same (note that the vast majority of Czech banks are just daughters of western banks).

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

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[CaLViN]

Forester said:
IIRC, M-banka and FIO banka were offering a remote account opening some time ago; but I am afraid for Czech residents only. But especially M-bank is perhaps worth checking, it is a (very small) multinational so it might be possible to use (on-line) their branch in another country (depending of your residence) to obtain a Czech account. Otherwise, Intergiro can provide Czech IBAN (or, to be exact, a possibility to execute local payments in CZK) under some circumstances but I am unaware of details. Similarly it might be posible with Zen or some another Lithuanian EMIs but I definitely did not recall...

To the best of my knowledge, I am unaware of any Czech EMI that offers personal IBANS. AFAIK, there are 2-3-4 offering payments processing but with shared accounts. But IMO they are relatively popular with the businesses because of FX rates.

Correct.

It depends on a particular bank but I would not use the word “very“. I do not have a lot of personal experience with Czech banks in the last years but I would say that for example KYC/AML burden is roughly the same (note that the vast majority of Czech banks are just daughters of western banks).
Click to expand...

I have just checked https://www.mbank.cz/ but they dont have enlish language on their website which sounds like they dont like foreigners ?

 

[void]

what is your nationality/residence and what do you want to achieve?

 

[CaLViN]

A friend of me(TURKISH citizen and resident) has a payment from a Tech company which can only be paid to a Czech IBAN.
So we need a Czech IBAN to receive payment.

 

[Sols]

Last I checked, Payment Execution (Payment Execution) issues Czech IBANs. No CZK, though.

High risk appetite. Turkish shouldn't be a problem.

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This is the probably the answer to your question.

 

[void]

CaLViN said:
A friend of me(TURKISH citizen and resident) has a payment from a Tech company which can only be paid to a Czech IBAN.
So we need a Czech IBAN to receive payment.
Click to expand...

from Czech account in CZK or different currency?
how many figures?

 

[Forester]

CaLViN said:
I have just checked https://www.mbank.cz/ but they dont have enlish language on their website
Click to expand...

... Really surprising. I re-checked it (in one browser, Mozilloid, only) and it seems so.

CaLViN said:
which sounds like they dont like foreigners ?
Click to expand...

AFAIK, they definitely are onboarding expats residing in Czechia. So it is really strange.
But generally it is IMO not so important now, see below.

CaLViN said:
A friend of me(TURKISH citizen and resident) has a payment from a Tech company which can only be paid to a Czech IBAN.
So we need a Czech IBAN to receive payment.
Click to expand...

If I understand correctly that it is just a one-time payment, I consider opening any account with CZ IBAN (so going through all the onboarding burden) to be an overkill.
IMO, it is much more comfortable to hire a Czech lawyer to cash this money based on the Power of Attorney and then forward it to your friend. (Any Czech lawyer /advocate/ has a CZ IBAN account and is entitled to accept money on behalf of his clients.)

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...