Book a consultation

General · 7 March 2026

Bank Accounts for Foreigners in the Czech Republic & Money Exchange in Prague (2026 Guide)

Learn how foreigners can open a bank account in the Czech Republic and where to exchange money in Prague. Complete guide for expats and digital nomads.

If you are moving to Prague, opening a bank account in the Czech Republic as a foreigner is an important step for managing everyday finances. Whether you are relocating for work, starting a business, or applying for a Czech visa, having access to a local bank account makes payments, rent, and salaries much easier.

In addition to banking, many foreigners also need to exchange money in Prague, especially when arriving with euros or other foreign currencies. The Czech Republic uses the Czech koruna (CZK) rather than the euro, making currency exchange an important part of everyday financial life.

This guide explains:

  • How foreigners can open a Czech bank account

  • The best banks in Prague for expats

  • Requirements and documents

  • Where to find safe currency exchange offices in Prague

  • Source: ItiMaker

Can Foreigners Open a Bank Account in the Czech Republic?

Yes. Foreign nationals are allowed to open bank accounts in the Czech Republic. This is common for expats, students, freelancers, and entrepreneurs living in the country. Source: Magazine of Travel

A Czech bank account is especially useful if you:

  • Work in the Czech Republic

  • Run a freelance business

  • Pay rent and utilities

  • Receive local payments

Many banks in Prague provide services specifically tailored for foreign residents and expats. Source: Expats.cz

Documents Required to Open a Bank Account

The exact requirements vary by bank, but most financial institutions request several basic documents.

Typical requirements include:

  • Valid passport or ID

  • Proof of address

  • Visa or residence permit (for non-EU citizens)

  • Proof of income or employment

Some banks may also request a minimum deposit, which typically ranges from 200 to 2,000 CZK depending on the institution. Source: Foreigners.cz

Best Banks in Prague for Foreigners

Several major banks in the Czech Republic offer services for foreigners and expats.

Common options include:

  • Česká spořitelna

  • Komerční banka

  • ČSOB

  • Raiffeisenbank

  • UniCredit Bank

These banks provide services such as:

  • international transfers

  • debit cards

  • online banking

  • multi-currency accounts

Choosing a bank often depends on language support, fees, and accessibility of branches.

How to Open a Czech Bank Account

Opening a bank account in the Czech Republic usually involves a simple process.

Step 1: Choose a Bank

Research banks that offer services for foreigners and English-speaking customers.

Step 2: Prepare Documents

Bring your passport, visa documents, and proof of address.

Step 3: Visit a Bank Branch

Most banks require applicants to open the account in person.

Step 4: Activate Online Banking

After approval, you will receive your debit card and online banking access.

For foreigners relocating to Prague, the process is usually straightforward if all documents are prepared in advance. Source: Global Banks

Currency Exchange in Prague

Because the Czech Republic uses the Czech koruna (CZK) instead of the euro, visitors and expats often need to exchange money when arriving in the country. Source: ItiMaker

Currency exchange can be done through:

  • exchange offices

  • banks

  • ATMs

  • digital currency services

Many businesses accept credit cards, but cash is still commonly used for smaller purchases.

Best Places to Exchange Money in Prague

Foreigners and tourists can exchange currency at several locations across Prague.

The most common options include:

Currency Exchange Offices

These are widely available throughout Prague and usually offer competitive exchange rates.

Banks

Banks are typically safer but may charge higher service fees.

ATMs

Using ATMs to withdraw Czech koruna directly is often one of the easiest options.

However, it is recommended to compare exchange rates and fees before exchanging money. Source: Magazine of Travel

Tips for Safe Currency Exchange in Prague

When exchanging money in Prague, it is important to follow a few basic precautions.

Avoid Airport Exchange Offices

Exchange rates at airports are often less favorable.

Compare Rates

Check several exchange offices before exchanging large amounts of money.

Avoid Street Currency Traders

Street money exchangers may offer fraudulent rates or scams. Source: Hotel Golf

Check for Commission Fees

Some exchange offices charge hidden fees that significantly reduce the amount received.

Following these tips helps ensure you receive fair exchange rates when converting money in Prague.

Why Expats in Prague Need a Czech Bank Account

Opening a local bank account is highly recommended for foreigners living in the Czech Republic.

Benefits include:

  • Easier payment of rent and utilities

  • Lower transaction fees

  • Faster salary payments

  • Easier management of taxes and business finances

Many expats choose to open bank accounts shortly after receiving their Czech visa or residence permit.

How Prague Visas Can Help

Relocating to the Czech Republic involves several administrative steps, including banking, visas, and residence permits.

Prague Visas assists foreigners with:

  • Czech visa applications

  • Trade license (Živno visa) setup

  • Business relocation

  • Residence permits

  • Expats relocating to Prague

Our team helps make the relocation process smooth so you can focus on settling into your new life in Prague.