For students in the Czech Republic, opening a separate student bank account is the smartest move to make when it comes to managing your finances. It comes with some pretty cool perks, just for students. These accounts usually offer zero monthly fees as well as free debit cards and ATM withdrawals, all available to students under 26 who can prove their student status.
The process is relatively simple and requires basic documents, such as your passport, proof of residence, and proof of enrollment at your university for confirmation. While major banks such as CSOB, Raiffeisenbank and Ceska sporitelna all have competitive packages. The best option for you will ultimately depend on your personal preferences when it comes to ATM availability, branch availability and digital banking features.
Main advantages of a student account in Czechia
Student accounts are especially made for those under the age of 26 (usually up to 26, but check with the bank) who can prove they’re a student. Principal advantages over a standard current account are:
Zero or low fees
The biggest attraction. Maintenance charges, account keeping and often domestic payments are free.
Free card maintenance
The Annual fee is free for your debit card.
Preferential terms
Favourable exchange rate for currency conversion, reduced fees for international transfers, or discounts on other financial services offered by the bank, such as savings accounts or insurance.
Free withdrawals
Very often, you can withdraw cash free of any charge from any ATM in the bank’s network, and sometimes you may also withdraw cash from ATMs of other banks (up to a limit).
User-friendly online banking
Modern mobile and internet banking apps are the norm.
Best banks for student accounts
The following are some of the most popular and competitive:
CSOB (Ceskoslovenska obchodni banka)
Account Name: CSOB Student account.
Key Features:
- Fully free account maintenance for under 26s.
- Free debit card.
- Free withdrawals from all ATMs in Czechia (any bank).
- Modern and highly-rated mobile (Smart Banking) app.
- Access to a network of branches.
Raiffeisenbank
Account Name: Smart konto pro studenty
Key Features:
- No account maintenance fees for students under 26.
- Free debit card.
- Free withdrawals from any ATM in the Czech Republic.
- Good mobile banking app.
- Good for: Similar to CSOB in that it’s full nationwide ATM freedom.
Ceska sporitelna (Erste Group)
Account name: Sporitelna Studovici Account
Key Features:
- Free account for students under the age of 26.
- Free debit card (Visa/Mastercard: depending on the package).
- Free withdrawals from own extensive ATM network. (Withdrawals from the ATM of other banks may be subject to a fee.)
- The country’s largest branch network.
- Good for: Students who like to have a traditional bank with the most physical branches everywhere.
Komercni banka (KB)
Account Name: KB StudentAccount
Key Features:
- No account maintenance cost for students.
- Free online transactions and withdrawals from the KB ATM.
- Also has a very wide network of branches and ATM.
- Good for: Students who are comfortable with KB’s network and may already have connections there.
Documents needed to open an account
As a student, you’ll usually require:
- Valid passport or national ID Card (if from an EU country).
- Proof of address in Czechia:
- If you’re a foreign resident, your residence permit can often be used as proof of address.
- Alternatively: A rental agreement + confirmation from your landlord, or utility bill in your name.
- Proof of student status:
- Potvreni o studiu (Confirmation of Studies): An official document from your university’s international or study department.
- ISIC Card (International Student Identity Card): This is accepted as proof by many banks. Always check with the bank first if this is adequate.
Important for Non-EU Students: Your residence permit is very important. Most banks will require it to open any bank account.
How to select the right bank for you
Consider these factors:
ATM network
Do you need to withdraw cash from any ATM for free (CSOB, Raiffeisenbank) or are you happy if you choose one bank’s large network (Ceska sporitelna, KB)?
Branch proximity
Is the proximity of a physical branch to your dorm or university important to you?
Mobile app quality: Check the app store reviews. CSOB and Air Bank are two examples that get a lot of praise for their apps.
International transfers
If you receive money from abroad, check the fees for SEPA/Wire transfers or use services like Wise (TransferWise) along with your account.
English support
Most major banks have online banking in English and English-speaking staff in larger branches, but it’s always good to be sure.
Step-by-step process to open an account
Choose your Bank: Based on the above criteria 1.
Assemble documentation: Make sure that you have your passport, residence permit and proof of studies.
Visit a branch: It is almost always possible that you have to go in person for your first account and especially if you are a foreigner. Book an appointment online if you can.
Sign the contract: The banker will walk you through the process. Don’t be afraid to ask questions about fees.
Receive your card: Your debit card, as well as your PIN, will normally be mailed to your address in Czechia within a few days.
You can also view these post:
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