Advices

ADVICE #15

How to choose a Bank in Czech Republic?

In the Czech Republic in total there are 45 local and foreign banks (in contrast to Russia, there may be the presence of foreign banks of branches and not subsidiaries), but actively works with clients about two dozen. They can be divided into three categories: large, medium and small. The former include ČSOB, Česká spořitelna, Komerční banka. To the second - UniCredit, Raiffeisenbank, GE Money Bank. To small all the rest. International banking institutions own almost all Czech banks - no matter is reflected in the title or not.

The choice of the Bank in the Czech Republic depends on the needs of the client. If the client intends to go into the offices of the Bank and requires the widest possible coverage of the country these offices, you should choose one large or medium-sized banks. The largest Bank by number of branches - Česká spořitelna (more than 650), followed by Komerční banka (about 400) and GE Money Bank (more than 270). In total, the three market leaders, accounting for 60% of all Bank branches in the Czech Republic. There is one exception: at all post offices in the Czech Republic you can get a limited set of services ČSOB Bank, working at the post office under the brand Era.

All “client” Czech banks have developed a system of Internet-banking for both individuals and legal entities. However, leaders in this sector are considered just small “young” banks: FIO, Zuno, Equa, mBank. In addition, it is relatively new banks, on average, much lower fees than the “old” way to the free account service at a certain volume of transactions.

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