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Slovak Banking

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  • Ron Matviyak
    For anyone with money dealings within Slovakia, possibly needing cash or cash transfers, here is some information from the Slovak Spectator: All you need is a
    Message 1 of 1 , Oct 2, 2003
      For anyone with money dealings within Slovakia, possibly needing cash or
      cash transfers, here is some information from the Slovak Spectator:

      All you need is a passport
      Foreigners' accounts

      By Marta Tkáèová
      Spectator staff http://www.slovakspectator.sk

      IF YOU plan to live in Slovakia for a long time and you find fees for
      withdrawing cash from ATMs on an international payment card issued by
      your home bank too high, you should think about opening a bank account
      in a Slovak bank.

      Opening a new account in Slovakia is easy to do even when you are a
      foreigner.

      A basic document for the new account is your passport. Some banks
      require also a confirmation of your temporary residence basis in
      Slovakia.

      Other just want your temporary address in Slovakia to fill in a contract
      form without any documentation. If you do not have a confirmation and a
      bank requires it, you will probably be offered an account without
      advantages of a residential person. It means you will not be able to
      have, for example, a payment card or an overdraft limits. You can just
      use it for cashless transfers.

      After obtaining the confirmation or finding a bank that does not need it
      (that is most banks), a bank will treat you as a residential person and
      you can take advantage of every product that your bank provides.

      With your current bank account you usually get a payment card, regularly
      delivered account statements and often services via electronic
      communication media (internet banking, mobile banking) - usually all
      included in a bank services package.

      The deposit minimum for a current bank account is usually around Sk500
      (€12). Fees for the bank account are the same as for a resident and are
      often included in a monthly flat rate for the whole services package. If
      you are under 26, try to find out whether a bank provides discounts or
      special packages with lower fees, because many banks do so.

      You can have a bank account in Slovak crowns or in a foreign currency -
      US dollars or euros. If you work in Slovakia and will get paid in Slovak
      currency, of course, the best option is to have a Slovak crown account.
      If you will in most cases get money from your home country, it is better
      to have an account in a foreign currency. In both cases you can deposit
      or withdraw money in a different currency from the one in which your
      account is registered. The money will be converted on the daily foreign
      exchange currency rate.

      [9/29/2003]
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