Make payments and receive payments in CZK - Czech koruna
Pay in Czech korunas (CZK)
Mondial Change allows you to make international payments in CZK (Czech koruna) with ease. Manage your Czech koruna beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply any exchange commission on your CZK operations (a spread is applied to the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your client rate is always communicated transparently before the validation of each of your transactions.
Receive payments in Czech koruna (CZK)
Mondial Change allows you to receive payments in CZK (Czech koruna). Payments in CZK are received in an account in your name with a dedicated IBAN. This CZK account with a nominative IBAN is provided to you free of charge. It allows you to receive payments in CZK from your clients or subsidiaries and also to hold Czech korunas. The CZK can be reused to make payments in CZK. The CZK can also be converted into EUR or any other currency of your choice and repatriated to your bank account. The Czech koruna (CZK) account can be located in France or other countries (see possible locations).
Do you want to hedge your exchange rate risk on the Czech koruna (CZK)? Check our dedicated page for CZK currency hedging.
Mondial Change answers all your questions about payments in Czech korunas (CZK)
What is the time frame for a CZK payment to be credited to the beneficiary's account?
It generally takes between 1 and 2 business days for a Czech koruna transfer to be credited to the beneficiary's account. However, these time frames are not contractual, and our partners responsible for the execution and routing of payments cannot be held liable if CZK payments are credited beyond 2 business days to the beneficiary's account.
What are the fees for a Czech koruna (CZK) payment?
The fees applied to Czech koruna (CZK) transfers generally range from 0 to 10 euros depending on the agreement made with Mondial Change's trading room. The rate mainly depends on your annual CZK exchange volume and the number of Czech koruna payments made during the year.
Are there minimum or maximum amounts for Czech koruna (CZK) payments?
Mondial Change and its partners verify that your Czech koruna flows are consistent with the data declared during account opening and consistent with your activity volume to ensure compliance and security. If there are restrictions on transaction volumes, they will be communicated to you well in advance of the validation of your operations.
What are the specific rules for executing a Czech koruna (CZK) payment?
For CZK payments via the SWIFT network, simply provide the following information:
• Full name of the beneficiary
• IBAN
Is it possible to modify a Czech koruna (CZK) payment after it has been executed?
Yes, it is possible with some of our partners to modify a Czech koruna (CZK) payment even after it has been sent in SWIFT. If you have, for example, made an error in the beneficiary's name or account number, the correction is made through a SWIFT amendment. If the payment has not been executed via the SWIFT network, then it is not possible to make such amendments, and you must wait for the payment to be returned if applicable.
Is the Czech koruna (CZK) account provided to you a bank account and is it nominative?
The Czech koruna (CZK) account for which we provide you the details is not a bank account per se because the account holder is not a bank but a partner payment institution. These accounts are labeled in your name, and the IBAN linked to the account is unique. You thus have a guarantee of segregation of your funds in the books of our partners. The security guarantees for your funds are similar to those offered by traditional banks. The account can be located in different countries according to your operational needs. Please consult the page related to opening a Czech koruna (CZK) account for more information.
Is it possible to hold Czech korunas (CZK) in the CZK account provided to you?
You can use this Czech koruna (CZK) account to receive or store Czech korunas. The funds can then be reused to issue payments in Czech koruna or be converted into other currencies. The account is also compatible for receiving payments in CZK from e-commerce platforms like Amazon or payment systems like Adyen or Stripe.
What are the holidays when Czech koruna (CZK) payments cannot be executed?
January 1st: New Year's Day and Restoration Day of the Independent Czech State (Den obnovy samostatného českého státu)
Variable date: Good Friday (Velký pátek)
Variable date: Easter Monday (Velikonoční pondělí)
May 1st: Labor Day (Svátek práce)
May 8th: Victory Day / Liberation Day (Den vítězství)
July 5th: Saints Cyril and Methodius Day (Den slovanských věrozvěstů Cyrila a Metoděje)
July 6th: Jan Hus Day (Den upálení mistra Jana Husa)
September 28th: Czech Statehood Day – Saint Wenceslas (Den české státnosti)
October 28th: Independent Czechoslovak State Day (Den vzniku samostatného československého státu)
November 17th: Struggle for Freedom and Democracy Day (Den boje za svobodu a demokracii)
December 24th: Christmas Eve (Štědrý den)
December 25th: Christmas Day (1st Christmas Day – Boží hod vánoční)
December 26th: St. Stephen's Day (2nd Christmas Day – Svátek svatého Štěpána)
History of the Czech koruna
The Czech koruna, abbreviated CZK, is the official currency of the Czech Republic. It is used throughout the country for everyday purchases, commercial exchanges, and financial services. The Czech National Bank is responsible for managing the CZK and ensuring financial stability. You can easily use the Czech koruna in stores, restaurants, hotels, and tourist sites in the Czech Republic. When traveling in the country, it is recommended to familiarize yourself with the exchange rates and conversion modalities of your original currency into CZK.
Monetary policy of the Czech koruna
The monetary policy of the Czech koruna is managed by the Czech National Bank (Česká národní banka). Its main objective is to maintain price stability in the country's economy. To achieve this, the central bank uses various tools such as adjusting interest rates, controlling the money supply, and intervening in the foreign exchange markets. It closely monitors economic indicators such as inflation, economic growth, and financial markets to make informed decisions on monetary policy. The goal of the Czech National Bank is to maintain low and stable inflation, thus creating confidence in the Czech koruna as a reliable and strong currency for consumers and investors.
Particularity of the Czech koruna
The Czech koruna has some interesting particularities. Firstly, it is the official currency of the Czech Republic, used throughout the country for daily transactions, commercial exchanges, and financial services. Managed by the Czech National Bank, it ensures financial stability and implements monetary policy. However, it is important to note that the value of the Czech koruna can fluctuate relative to other currencies, so it is recommended to inquire about exchange rates before traveling to the Czech Republic.