looking for a way to accept CZK payment without a bank account in Czech Republic

[void]

Tom1020 said:
Nicaragua
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ok, that might be a little bit difficult

the money you want to receive in CZK to the local Czech account are coming from regular (mostly) local tenants? if so I'd suggest to
* find a local nominee
* setup a simple (and cheap) proxy limited liability company (s.r.o.) with the nominee as director and only shareholder - this company will have no problem to open a bank account
* rent the property in your possession to this company - the contract will state that subletting is allowed
* this company will sign the contracts with tenants in local currency
* settlement between you and the company can be done at your convenience

 

[daniels27]

www.adyen.com may be able to help for 2% fees.

 

[linusAG]

Forester said:
Yes, this list is public, reachable at EUCLID register or CNB (Czech National Bank). I am only already too tired today so kudos to you 🙂
See you tomorrow 😉
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https://www.cnb.cz/export/sites/cnb/en/payments/.galleries/certis/download/list_certis.pdf

And the list of CERTIS participants

The only interbank payment system in the Czech Republic, which handles interbank payments in Czech koruna, is the CERTIS system (Czech Express Real Time Interbank Gross Settlement System).
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[Forester]

linusAG said:
It seems no CZK local transfer
https://ask.zen.com/hc/en-us/articles/11008482190876-Local-PLN-transfers-supported-by-ZEN
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You are truly right. Just PLN and GBP locally. Thanks for the confirmation.

Forester said:
There are more similar payment processors in Czechia, I guess; but I am unable to recall the names at this moment 🙁 Perhaps tomorrow 😉
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Euclid register lists up to 10; yet the names I was not able to recall yesterday were SAB Finance, Cyrrus and Global Payments Europe (no own experience though, just good references esp. to SAB Finance)...

Tom1020 said:
Apparently, opening a bank account in Czech Republic for a Czech company with non EU owner (even with Czech nominee director) is impossible.
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How have you got to this conclusion? In my deep opinion, with a CZ director it is possible (if you choose the proper bank and eventually the proper introducer).

void said:
the money you want to receive in CZK to the local Czech account are coming from regular (mostly) local tenants?
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It seems so.

void said:
if so I'd suggest to
* find a local nominee
* setup a simple (and cheap) proxy limited liability company (s.r.o.) with the nominee as director and only shareholder - this company will have no problem to open a bank account
* rent the property in your possession to this company - the contract will state that subletting is allowed
* this company will sign the contracts with tenants in local currency
* settlement between you and the company can be done at your convenience
Click to expand...

Yes, this is a viable way how to solve the problem. It's a little bit more expensive (but just a little bit, for the costs of running the another company) and less effective (there would be losses due to subletting) but it would work.

daniels27 said:
www.adyen.com may be able to help for 2% fees.
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This platform has been unknown to me, I admit. Interesting. Definitely not cheap. (BTW, what about their FX margins?) Do you have a personal experience with them?

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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...

 

[Forester]

linusAG said:
https://www.cnb.cz/export/sites/cnb/en/payments/.galleries/certis/download/list_certis.pdf

And the list of CERTIS participants
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Yes. There are all subjects with the direct access to CZK local payments (banks mainly). EMIs and similar payment institutions must hold accounts with some of the abovenamed, as usually.

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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...

 

[linusAG]

linusAG said:
https://www.cnb.cz/export/sites/cnb/en/payments/.galleries/certis/download/list_certis.pdf

And the list of CERTIS participants
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There are a few non-bank/credit union participants:

https://www.citfin.cz
https://www.mastercard.cz/cs-cz.html


Multitude Bank p.l.c.(Malta) has a branch in Czech and is a participant in CERTIS, they are providing Virtual Accounts solutions to some fintech companies, But I'm not sure which fintech issues Virtual CZK local accounts over Multitude Bank

 

[linusAG]

Forester said:
You are truly right. Just PLN and GBP locally. Thanks for the confirmation.
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https://ask.zen.com/hc/en-us/articles/16655036602268-Local-SGD-transfers-supported-by-ZEN
Also local SGD payments

Forester said:
This platform has been unknown to me, I admit. Interesting. Definitely not cheap. (BTW, what about their FX margins?) Do you have a personal experience with them?
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They are a very big player in the payment industry, they even have their own FED master account. I don't think they will be friendly to small volumes.

 

[daniels27]

Forester said:
This platform has been unknown to me, I admit. Interesting. Definitely not cheap. (BTW, what about their FX margins?) Do you have a personal experience with them?
Click to expand...

I only used Adyen for payments as customer, some webshops use them to collect bank transfers, mainly in Europe. Also, eBay switched to using them a few years ago (also for credit card processing, I think). They have some quite big customers.

 

[Buratino]

Paysera. they will receive CZK and keep it on separate sub-account with the same name like your IBAN LT... and you can pay out CZK too

 

[linusAG]

daniels27 said:
I only used Adyen for payments as customer, some webshops use them to collect bank transfers, mainly in Europe. Also, eBay switched to using them a few years ago (also for credit card processing, I think). They have some quite big customers.
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Yes, I remember some stores of big brand cosmetics use the Payment terminal of Adyen

 

[daniels27]

Maybe, you can use Roken. I think they offer some sort of QR code for the payment.
https://www.roklen.cz/roklenfx/en/faq/

 

[Forester]

Buratino said:
Paysera. they will receive CZK and keep it on separate sub-account with the same name like your IBAN LT... and you can pay out CZK too
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Yes; yet not as a local CZK payment via CNB clearing system but via SWIFT ”“ or am I wrong? (It seems to me that they are able to receive payments locally in LT and BG only.)

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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...

 

[daniels27]

How about CSOB and PPF, they did not like you?

 

[Forester]

linusAG said:
https://ask.zen.com/hc/en-us/articles/16655036602268-Local-SGD-transfers-supported-by-ZEN
Also local SGD payments
Click to expand...

Oh well. Really. I have just overlooked it here https://ask.zen.com/hc/en-us/sections/12415564842524-Local-bank-transfers. (Just as a last link, omitted in perex. My bad.)

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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...

 

[linusAG]

Forester said:
Oh well. Really. I have just overlooked it here https://ask.zen.com/hc/en-us/sections/12415564842524-Local-bank-transfers. (Just as a last link, omitted in perex. My bad.)
Click to expand...

Unfortunately, they only offer local payments in these currencies to local residents (sorry, I'm digressing a bit from the topic of this post).

 

[linusAG]

daniels27 said:
Maybe, you can use Roken. I think they offer some sort of QR code for the payment.
https://www.roklen.cz/roklenfx/en/faq/
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I'm curious about if they can fund by third party's accounts?

 

[daniels27]

How about this one:
https://multipass.co/solutions/countries/czech-republic

 

[linusAG]

daniels27 said:
How about this one:
https://multipass.co/solutions/countries/czech-republic
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Let me check with my contact at multipass

 

[Forester]

daniels27 said:
How about this one:
https://multipass.co/solutions/countries/czech-republic
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linusAG said:
Let me check with my contact at multipass
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Well, colleagues, let's wait for the @Tom1020's feedback 🙂
(Multipass service is not much cheap, to tell the truth.)

Nevertheless, it's an interesting information for me that they are eventually able to reach CZ local payment network ”“ I understand this
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Supported payment networks:
SWIFT, Direct Entry (available upon request on a case by case basis)
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exactly in this way...

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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...