Saving money & keeping it safe is a very basic need for a regular student. In contrary to many other bureaucratic procedures in the Czech Republic, opening a bank account is a fairly straightforward process as there are no special limitations. Within a week, everyone can have an open account running with a debit card and the internet bank ready to use. So what does it take to open a Bank Account?

To open an account all your need is a passport and one other form of identification (such as a driver´s license).  Generally, a passport and one other I.D. would be enough. Don't forget to bring your ISIC (International Student Card given by your Czech University) and you will be able to open a Student Bank account right away.

Take in consideration that most of the times you´ll also need an initial deposit (not a fee, just the amount you need to put into the account to start). This initial deposit varies from bank to bank with 200 CZK (7.2 Euros) being the most common.

In contrary to most of the banks in Europe, in Czech Republic you´ll generally pay a flat monthly rate as well as banking fees for every type of transaction you can imagine, so do make sure you open your bank account as a student to avoid any unnecessary expenses on your bank bill.

Now that you are aware of the simplicity of the process, its time to decide which bank will be your choice and as in every part of the world, here in Prague all banks have their plusses and (usually many) minuses, one of them being the language barrier. To avoid that, we strongly recommend you to visit branches which are in the city center!

And finally, two of most popular student accounts and the ones we recommend:

Bank Name: Komerční bank - KB:

Product name: Package G2.2 + MojeBanka (Internet Banking)

Account Benefits:

• Account management and internet banking for free
• Incoming Payment: Free
• Outgoing payments: 19 CZK (pack at 50% free to e-payments. And Mobile Banking)
• Pay by credit card: Free
• Listings: 4 CZK (electronic)
• Cards: 200, – CZK per year (17, – CZK per month)

Extra Bonuses:

•  +333 CZK in September for anyone at least once a month throughout the year paid card at an ATM mobile top up files or sending money via internet banking MojeBanka.
• You will also receive a bonus of CZK 200 by holding a valid ISIC card, to be presented to the bank advisor when opening the account.

More information: http://www.kb.cz/…y/g2-2.shtml

Branch locations: http://www.kb.cz/pobocky-bankomaty/en/hledani.x

Bank Name: ČSOB - Československá obchodní banka

Product name: Student Account Plus + Internet Banking 24

Account Benefits:

• Account management and internet banking for free
• Incoming Payment: Free
• Outgoing payments: Free
• Pay by credit card: Free
• Listings: free (electronic)
• Cards: Free for students

More information: http://www.csob.cz/…to-Plus.aspx

Branch locations: Click here

Final note:

From all banks available in Czech Republic, we definitely recommend Komercni Banka (KB) & ČSOB for being the easiest & more efficient. For your own benefit, we would like to recommend to close your bank account in case of leaving the country at the end of your studies.