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Low-cost bank account for expat on a relatively low income




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SFD
Member: #93714
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I've just arrived in Prague on a 6-month contract, and I've been asked by my employer to open a local bank account. However, as my monthly income is less than 15,000 CZK, I don't think I'd qualify for Equabank's decent offering, so I don't know who to go with, as they all sound like such a rip-off! Also, I don't (yet) have much Czech, nor German, so I'd need a branch where they're willing to do the whole thing in English. I don't mind popping to Prague 1 if that makes it easier.

If anyone has any suggestions/experience in this, I'd really welcome your input.

Thanks so much,
Sarah
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09-01-12, 12:07 AM

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meluzina
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try going to one of the prague banches of Fio http://www.fio.cz/spolecnost-fio/ko...=10#mapBranches

although they have no english website, i know someone who speaks no czech who had no problem opening an account at one of their branches elsewhere, so i would think that the prague offices would have some english speakers as well ...

pricelist (sorry czech only)
http://www.fio.cz/docs/cz/cenik_bankovni_sluzby.pdf

their standard account has no fees for the most common banking transactions and there is no minimum associated with it - the most simple debit card they offer also has no associated fees ....
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09-01-12, 12:33 AM

RaymondS
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I would recommend raiffeisen if you need english customer service but not sure if www.rb.cz is cheaper.
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10-01-12, 12:20 AM

paulrm
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I will also recommend Raiffeisen and I've had some brutal battles with them over the last 12 years (going back to when it was Ebanka, etc). At least their website is in English so you won't be prone to mistakes as with others.
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10-01-12, 07:49 AM

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Rob_Prague_2004
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If you want a cheap account, it depends on your language requirements

FIO are cheap but they don't have anything in English.

LBBW have a 'free' account which doesn't depend on your income, but they charge 50 CZK for the embossed payment card (most people want to be able to pay on the internet in this day and age). Their website has an English translation.

Airbank might also be worth a look, again nothing in English yet though...

RB have good English skills, but are not cheap if you are on a low income.
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10-01-12, 12:18 PM

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meluzina
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as far as FIO is concerned - i was going to log into my account and just noticed they have an english version up (i swear it wasn't there the other day as i specifically looked)

http://www.fio.cz/bank-services/ban...current-account

although i think it must be new - the link to internet banking from the english page doesnt work and theri online banking iosn't in english

Last edited by meluzina : 10-01-12 at 12:35 PM.
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10-01-12, 12:28 PM

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Rob_Prague_2004
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Wow! Thanks for the tip Mel. I am sure it wasn't there when I last checked (a few weeks back).
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10-01-12, 01:59 PM

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