This page is for people who are opening their first account in Czechia or have been refused one. There is no comparison of individual banks’ fees here: the terms change, while the law guarantees minimum rights at any bank that keeps accounts for consumers.
Do I have the right to an account at a Czech bank?
Yes, if you stay legally in the EU. The Payment Services Act (§§ 210–217) obliges banks and branches of foreign banks that keep payment accounts for consumers to open a basic payment account (základní platební účet). According to the list in the law, people who stay legally include:
- citizens of EU countries and their family members;
- foreigners who stay in Czechia temporarily or permanently under the Act on the Residence of Foreigners;
- people who have applied for international protection or have been granted asylum or subsidiary protection;
- foreigners who stay in Czechia under the Act on Temporary Protection;
- people who stay legally in another EU country.
The Czech National Bank (ČNB) notes that the obligation to open a basic account applies to every such consumer regardless of age. In addition, when a bank opens and keeps any payment account, it cannot discriminate against a person who stays legally in the EU because of their citizenship or place of residence.
What does a basic account include, and how much does it cost?
A basic account is kept in Czech koruna and covers:
- opening and keeping the account;
- cash deposits and withdrawals;
- payments, including standing orders;
- direct debits;
- debit card payments;
- issuing and servicing a debit card, and managing the account online.
The fee for these services cannot exceed the usual price under the Property Valuation Act. The law does not set a fixed amount in koruna, but the bank must publish its fee and the procedure for opening the account. The bank cannot require you to buy other paid services together with the account.
What documents do you need?
A valid identity document. The Anti-Money Laundering Act considers this to be a document issued by a public authority that shows your first name and surname, date of birth and photo. The bank records and checks your data against this document and compares the photo with your appearance. We found no separate list of Ukrainian documents that banks accept, either from ČNB or from the Financial Analytical Office. The Ministry of the Interior names a passport with the protection visa sticker as the identity document of a protection holder.
The bank may ask for a written statement (čestné prohlášení) that you do not have another account with the same services in Czechia. With remote identification through bank identity (BankID), a copy of the document is not needed.
How quickly must the bank reply?
Without undue delay, but no later than 10 working days after you asked to conclude a contract and confirmed that you meet the conditions of the law. Within this time, the bank either gives you the terms of the contract or refuses. The bank cannot change its offer for 5 working days; if you accept within this period, the bank must conclude the contract.
On what grounds can the bank refuse?
Only on the grounds listed in the law; ČNB explicitly calls this list exhaustive:
- you already have an account with the same services at a bank in Czechia, unless you prove that the bank has told you it intends to close that account;
- in the last 12 months the bank terminated a basic account contract with you or withdrew from another payment services contract because of a serious breach;
- opening the account would breach the Anti-Money Laundering Act or another law; in that case the bank must refuse.
The bank informs you of the refusal in writing without undue delay, with reasons (unless disclosing them would breach the anti-money laundering rules), and explains how to settle the dispute out of court and how to complain to the supervisory authority.
When can the bank close a basic account?
Only on grounds set out in the law:
- there have been no transactions on the account for more than 24 months;
- you no longer stay legally in the EU;
- you have another account in Czechia with the same services;
- you refused a change to the contract without a good reason;
- you seriously breached the contract.
In addition, the bank can withdraw from the contract if you breached the anti-money laundering rules or gave false information.
Is the money in the account protected?
Yes. The Financial Market Guarantee System covers 100% of deposits up to €100,000 per client at one bank, building savings bank or credit union. Compensation payouts start within 7 working days. Temporarily higher balances credited within 3 months, for example from selling a home or from an inheritance, can be protected up to an amount equal to €200,000. To get compensation, you show an ID card or passport, or apply online through bank identity.
Why does a protection holder need an account in Czechia?
The humanitarian benefit is paid only into a payment account at a bank in Czechia; only the benefit for the month in which you were granted protection can be received in cash. With the benefit application, you submit statements from all your accounts, including foreign ones, and if they hold more than double the benefit, you are not entitled to it. Details are on the page Humanitarian benefit and other payments to Ukrainians in Czechia.
What mistakes should you avoid?
- Agreeing to a package of paid services when you only need a basic account: the bank cannot require this.
- Accepting a verbal refusal: the bank must explain its reasons in writing.
- Missing the 5 working days during which the bank’s offer stays the same.
- Opening a second basic account when you already have an account with the same services: this is a lawful reason for refusal.