|CSOB BANKA||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to CZK||NO MINIMUM||5/7 DAYS||5.0%||25.875|
|EUR € - to CZK||NO MINIMUM||5/7 DAYS||5.0%||22.499|
|BROKER RATES||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to CZK||From £100||From 1 DAY||From 0.7%||27.046|
|EUR € - to CZK||From £100||From 1 DAY||From 0.7%||23.518|
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
Answer: Using CSOB Banka services, the exchange rates shown are typical. All banks have individual rates and commission structures for international currency transfers. Find the latest exchange rates for an overseas bank using our Bank Rate Comparison below:
Save on the exchange rate conversion when sending money abroad from your CSOB Banka account in Czech koruna, euros, the UK pound and other currencies. CSOB Banka international money transfers to or from the Czech Republic have higher transaction charges, due to a less competitive exchange rate offered by CSOB Banka. Skip to: Czech Republic Money Transfer Specialists
Typically, sending funds to or from your CSOB Banka account in Czech koruna (CZK), the UK pound or US dollar overseas bank account will involve a margin rate of 5.0% – much higher than most currency broker rates (typically 0.7 to 1.0%).
Sending foreign currency to or from your CSOB Banka account in the Czech Republic needn’t be a complex matter, moreover, you can save time and money when you use a specialist currency broker instead.
Specialist foreign exchange companies including our recommended providers here can save you money and time on the transaction. Our recommendations are based on international coverage and office locations together with the lowest foreign exchange margin rates offered.
Example: A typical overseas currency transfer of 1,000,000 koruna (CZK) using CSOB Banka services would have a transaction exchange rate margin of around 5.0% – or 50,000 CZK. Using a specialist broker, in this example TorFX – the exchange rate margin would work out at 0.7% – or only 7,000 CZK in total, which is a large saving over the bank service.
International money transfers from CSOB Banka could take longer to arrive than using a private currency exchange provider and you will also need to be an existing CSOB Banka account holder to use their services. CSOB Banka may additionally charge a flat rate commission fee when sending money abroad into another currency and bank transfer commission fees vary depending on the amount you need to transfer. Private brokers offer commission free currency transfers, typically over a value of £5000 (or 50,000 CZK).
Unless you pay a premium, CSOB Banka’s service will take from 5 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction either same day, or next day.
CSOB Banka (Ceskoslovenska Obchodni Banka) was created in 1964 and is one of the largest banks in the Czech Republic, serving customers from over 250 banking branches. CSOB Banka is owned by Belgium based KBC Bank.