Foreign and Domestic Foreign Currency Payments

Pay in foreign currencies all around the world

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You can simply enter outgoing payments in Internet Banking
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It’s cheapest to pay electronically
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We deliver your payments quickly and safely
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Profitable outgoing payments to Slovak CSOB

Foreign currency outgoing payments make it possible to pay in foreign currencies around the world

You pay just like with a current account, but it is all in a foreign currency. You can pay in foreign countries, but also within the Czech Republic. Furthermore, everyone else can send money in a foreign currency to your account
We offer profitable SEPA payments
It’s fastest and cheapest to pay via Internet Banking
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How outgoing payments work

If you send money abroad (whether in CZK or in foreign currency), we refer to it as a foreign payment, divided into:

SEPA payment – in Euros to EU/EEA countries

SEPA payments are cheaper than a standard foreign payment. At the same time, you can be certain that the payment to the payee’s bank account will arrive within two working days at the latest (then it’s up to the bank when it will appear in the payee’s account).

How to enter a SEPA payment?

Use the payment order to enter a SEPA payment, whereby you do not enter any specific processing requirements but enter the IBAN – recipient account number instead

Other payments to EU/EEA countries

In addition to SEPA payments, we make payments to EU/EEA member countries regardless of currency.

To enter the payment you need the following data:

  • The payee’s IBAN account number
  • The bank code in the BIC format
  • The name and address of the payee
  • State SHA (the payee and payer pays the fees of their banks) as the charge code

You must state the SHA charge code for SEPA and other payments to EU/EEA countries. If you state another charge code, we are authorised to change it to the mandatory SHA code.

Transfers outside EU/EEA member states

For transfers to states outside the EU/EEA, you need to submit this data:

  • The payee’s account number
  • The payee’s name, surname and address
  • The state of the payee’s bank
  • The currency in which you want to make the transfer
  • The BIC (SWIFT address) of the payee’s bank (we recommend stating it whenever available)

Always agree with the payee as to who will pay the transfer fees.

How incoming payments work

Foreign incoming payments are payments that are made in a foreign currency or CZK from a foreign bank, or in the case of foreign currency payment from another domestic bank.

To make sure that money from abroad or within the Czech Republic in a foreign currency arrives as soon as possible to your account, also give the payer your account number in IBAN format and the BIC of the bank.

You can find your IBAN in online banking or on your account statement; our BIC is then CEKOCZPP.

Incoming payments will be made as a SEPA payment for an advantageous fee if it meets the following:

  • It is in EUR
  • It comes from an EU/EEA member state or Switzerland
  • The BIC (SWIFT address) and IBAN format of the payer’s and payee’s account is stated
  • The free payment code is SHA fees (the payer and payee pay the fees of their banks )
  • No specific processing requirements

What is IBAN and BIC

This is the international number and account code and bank. Your IBAN can be found in online banking or on an account statement, our BIC is CEKOCZPP.
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What does IBAN and BIC mean?

These are data that specify your payment and are mandatory for transfers within the EU/EEA Member States and for SEPA payments.

BIC

It is the international bank identifier code. It is used to clearly and completely identify a bank throughout the world. It consists of 8 characters (for a bank’s headquarters) or 11 characters (for a bank branch):

  • First 1-4 character = bank name code
  • Next 5-6 character = country ISO code
  • Next 7-8 character = bank headquarters code
  • Next 9-11 character = bank branch code.

E.g.:

  • CEKOCZPP = ČSOB, Praha
  • CEKOSKBX = ČSOB, Bratislava
  • KREDBEBB = KBC, Bruxelles
  • DEUTDEFF = Deutsche Bank AG, Frankfurt/Main
  • DEUTDEFF506 = Deutsche Bank AG, Hanau
IBAN

IBAN (International Bank Account Number) is an internationally standardised account number form. It enables the payment from a payee’s account, country and bank institute to be clearly identified.

The IBAN account number is obligatory for SEPA payments within EU/EEA member countries and for transfers within EU/EEA member states in their currencies. The IBAN contains a maximum of 34 characters and includes control elements, e.g.: CZ2503000000000000000123.

Important foreign payment requirements

Payer

The account number from which you want to send money, the payer’s name/title and address.

Payee

The account number to which the money is to be transferred, the payee’s name/title and address (including the state and ISO code); the IBAN format is obligatory for transfers to EU/EEA states and Switzerland.

Payee’s bank

The payee’s BIC (SWIFT code) or national routing code (e.g. BLZ, CHIPS, FEDWIRE, etc.) The name and address of the payee’s bank (including the state or ISO code of state) The payee’s BIC bank format is obligatory for transfers to EU/EEA member states and Switzerland.

Transfer sum

The numerical expression of the transferred sum (including decimal points).

Transfer currency

Marking the transfer currency (currency ISO code).

Transfer purpose

Information for the payee on the purpose of / reason for the transfer (if abroad, state in a foreign language – we recommend English).

Charge code

The code defines who will pay fees for your transfer abroad. There are several types:

OUR – If the Client is the payer, they cover both ČSOB’s and the beneficiary’s provider’s fees; possibly of intermediating providers. If the Client is the beneficiary, they do not cover any fees and shall receive the transfer amount in the original amount according to the payer’s instructions. The original payer is charged a fee as per the Terms and Conditions for Bank Correspondents of 1% of the amount transferred, min. CZK 300, max. CZK 2,000. (The above mentioned applies only if the other providers follow the rules for this code of fees, which cannot be guaranteed by ČSOB.)

SHA – If the Client is the payer, they will only bear the fees charged by ČSOB; any fees charged by the beneficiary’s provider shall be borne by the beneficiary. If the Client is the beneficiary, they will only bear the fees charged by ČSOB; any fees charged by the beneficiary’s provider shall be borne by the payer. The Client shall receive the initial transfer amount as instructed by the payer, reduced, as the case may be, by the fees charged by any intermediary providers. The SHA code is mandatory for payments to/from EU/EEC member countries, and is the only permitted code for any currency payments to ČSOB clients in the Czech Republic or Slovakia. Additional fees charged by intermediary banks may be collected from the payer with regard to SHA Outgoing Payments lower than the permitted minimum amounts defined by the intermediary banks.

BEN – If the Client is the payer, they do not bear any fees; the beneficiary shall receive the transfer amount reduced by the fees charged by ČSOB and furthermore shall also bear the fees of their provider. If the Client is the beneficiary, they will bear both the fees charged by ČSOB and any fees charged by the beneficiary’s provider. The Client shall receive the transfer amount reduced by the payer’s provider’s fees and, as the case may be, by the fees of any intermediary providers. Additional fees charged by intermediary banks may be collected from the payer with regard to BEN Outgoing Payments lower than the permitted minimum amounts defined by the intermediary banks.

Payer reference

A description of a payment which will appear on your bank statement.

Contact person

Your name and telephone/email/fax.

Maturity date

The day when the money is to be sent from the account. It is your decision. If you don’t fill in a date we will send the money, at the latest, on the working day after the day when the payment is delivered to us.

Information on Foreign Payments

When entering a payment order to certain countries or in certain currencies, you need to provide the specific information required under local law. Without this information, payment processing may be delayed, or the payment may not be transferred to the payee at all. Please ask the payee for specific details.

Please select the country to which you want to transfer the payment:

Payment to Bahrain

To which payments do the rules apply?
All payments directed to Bahrain (regardless of the currency, the payee’s bank is the decisive factor)
Purpose of the payment
/BENEFRES/BH//XXX/, where XXX is the SWIFT purpose code – to obtain the specific code, please contact the counterparty to the transaction.

Payment to Canada or in CAD

To which payments do the rules apply?
all payments to Canada or in CAD
Payee’s address
it is mandatory to provide the complete address of the payee: street name, number, city, province / state, country

Payment to China in CNY

To which payments do the rules apply?
All payments to China in CNY
Payee
  • the real name or business name of the company to receive the funds
  • the first line with the payee’s address should start with ADD
Purpose of the payment

depending on the nature of the payment, one of these code words must be specified:

  • CGODDR – for payments for goods
  • CSTRDR – for payments for services

where this information is provided in the Instruction for the bank (or Instruction to the bank or Statistics, depending on the application) (i.e. it is not a standard purpose of payment or message to the payee)

Sample payment illustration

Payment to Jordan

To which payments do the rules apply?
All payments directed to Jordan (regardless of the currency, the payee’s bank is the decisive factor)
Payee
the payee’s account number – must be in the IBAN format
Purpose of the payment
The code identification of the purpose of the payment must be specified in the format required by the local central bank. The code consists of four digits (e.g. 9876 – the specific code should be provided by the counterparty to the transaction) and should be entered from the first position of the Purpose of payment (or Payment details, depending on the application). It can be followed by further details of the amount paid (e.g. an invoice number, etc.).

Payment to Myanmar (Burma)

To which payments do the rules apply?
All payments directed to Myanmar (regardless of the currency, the payee’s bank is the decisive factor)
Purpose of the payment
A code identification of the purpose of the payment in the format required under local legislation. The code consists of four digits (e.g. 2510 – the specific code should be provided by the counterparty to the transaction) and should start with ITRS CODE and be entered in the Purpose of payment field (or Payment details, depending on the application) in the payment order. It can be followed by further details of the amount paid (e.g. an invoice number, etc.).

Payment to the United Arab Emirates

To which payments do the rules apply?
All payments directed to the United Arab Emirates (regardless of the currency, the payee’s bank is the decisive factor)
Payee
the payee’s account number must be specified in the IBAN format
Purpose of the payment
The code identification of the purpose of the payment in the format required by the local central bank. The information starts with a slash, the PPC keyword, another slash and a 3-letter code (e.g. /PPC/GDS for the purchase and sale of goods – we recommend obtaining the specific code from the payee; the slashes are important for automatic processing). This identification can be followed by additional text regarding the amount paid (e.g. an invoice number, etc.).

Payment to the United States of America or in USD

To which payments do the rules apply?
All payments to the United States of America in USD
Payee
  • the actual payee is indicated – at least the first two fields for the name and address are completed (at least three alphanumeric characters)
  • the payee’s address in the US includes the US state code (two digits – e.g. AK)
  • the name and address of the payee must also be provided when making a payment in USD outside the US or when making a payment in any currency to a US account
Payee’s bank
  • SWIFT (BIC) code of the payee’s bank
  • alternatively, you can enter the bank address and possibly its national code (ABA routing number or FW for FedWire) – please request the required details from the payee

Sample payment illustration

Payment to Uganda

To which payments do the rules apply?
All payments directed to Uganda (regardless of the currency, the payee’s bank is the decisive factor)
Payee
the payee’s address must be completed
Purpose of the payment
A code identification of the purpose of the payment in the format required under local legislation. The code usually consists of four letters (e.g. CORT, where the specific code should be provided by the counterparty to the transaction) and is to be entered on the last free line of the Purpose of payment field (or Payment details, depending on the application) in the payment order. The preceding part of this field can be used to leave a message for the payee (e.g. invoice numbers).

The overview highlights mainly the fields/information where the indication is different from foreign payments in general (the purpose is not to describe the general fields of a foreign payment order, such as amount, currency, etc.)

 

Pricelist

Incoming foreign payment in CZK and in a foreign currency; incoming domestic payment in a foreign currency

Incoming payment – SEPA

CZK 5

Incoming foreign payment in CZK and foreign currency and incoming domestic payment in a foreign currency

1%, at least CZK 150, at most CZK 1,000

Incoming payment on order of a ČSOB client in the Czech Republic and Slovakia

CZK 5
Outgoing payment and standing order to abroad in CZK and in a foreign currency; outgoing domestic payment in a foreign currency
 

ČSOB InternetBanking

At the counter

Outgoing payment in favour of a ČSOB client in the Czech Republic and Slovakia 2)

CZK 5

CZK 5 + CZK 120 3)

SEPA payment 1) and other payments in EUR within the EU/EEA

CZK 5

CZK 5 + CZK 120 3)

Outgoing foreign payment in CZK and in a foreign currency; outgoing domestic payment in a foreign currency

1 %, at least CZK 250, at most CZK 1,500

1 %, at least CZK 250, at most CZK 1,500 + CZK 120 3)

Establishment of a standing order abroad in CZK or foreign currency; or a domestic in foreign currency in written form

–

CZK 100

– The service cannot be arranged.

1) SEPA payment is a payment in EUR within the SEPA (i.e. EU and EEA countries, Monaco, Switzerland, Liechtenstein, Andorra and Vatican) stating the payer’s and payee’s account numbers in the IBAN format, the SHA code and without any specific processing requirements. Also applicable to transfers in EUR within ČSOB CR and SR.

2) For transfers in favour of a ČSOB client in the Czech Republic and Slovakia, the only possible charging code is SHA.

3) Fee for processing an order submitted in writing.

You can find all of our fees in our Pricelist.