The Czech Republic is one of the most popular countries for making money among Russian and Ukrainian citizens. Compatriots abroad have to regularly deal with financial issues. Often money is sent home, but there are times when you need to send money transfers to the Czech Republic. Let's consider the available options in order to understand how to transfer funds without any problems, if the need arises.
How to send money to the Czech Republic: possible ways
The publicly available and frequently used methods of sending funds are:
- Bank. The money is sent to a regular (dollar, euro, kroon) or trust account. The main thing is that accounts are opened in Czech banks or branches of Russian banks in the Czech Republic. Transferring money in the amount of more than 5 thousand dollars will require an explanation of the purpose of the transaction, so it is better to make several small transfers.
- By mail. Transferring money by postal order is safer than asking friends to transport this amount.
- Through the payment system to the card. One of the safest and most practical ways. In the Czech Republic, cash out is not a problem - there are ATMs at every step. However, the money will come in kroons, which is not entirely profitable if euros or dollars were sent.
- PayPal. Safe and reliable company with high trust in Europe.
Let's consider each proposed method in more detail.
Banks and Western Union
Bank transfer is the oldest and most reliable method. Any adult can make a transaction, besides, Czech banks are usually not interested in where the money came from. To make a transfer, you need to open:
- account at the bank branch, from where the funds are transferred;
- account in a Czech bank. You can open in kroons, dollars or euros, but you will have to withdraw money in kroons;
- a trust account for convenient execution of purchase and sale transactions.
When transferring large amounts, for example, through Sberbank, be prepared to prove the legality of receiving funds. Usually such rules apply when sending more than 5 thousand dollars.
Brief instructions for transferring money through a bank:
- Open an account in the Czech branch.
- Write a letter to the tax office at your place of residence in Russia or Ukraine. Inform the authority about opening an account in the letter.
- Get a certificate from the tax authorities that the letter has been received. Show it to the bank.
- Transfer money to a Czech account.
The percentage when transferring between a person's accounts in the same bank is 1% per transaction. The maximum transfer amount depends on the bank. In addition, there are restrictions on withdrawing money per day, week and month - for large transfers, they must be withdrawn in parts.
International bank transfers are completed in 3-4 days.
You can use Western Union as a reliable alternative to a bank. The system performs instant transfers within 5-10 minutes, however, it has a drawback - high commissions, reaching 9%.
International financial transfer systems
High percentages of Western Union services are unprofitable for transfers to the Czech Republic, Ukraine or Russia. The niche is gradually being filled by lesser-known but rapidly gaining popularity systems. They have low fees and the transfer speed is the same as WU. Let's take a look at some of them.
| Name | Territory | Departure | Receiving | Notes (edit) |
|---|---|---|---|---|
| Contact | 91 countries | Via transfer points, credit card or account | Through transfer points or a bank. Available in 15 minutes | 2-3% in dollars, euros and rubles. The larger the amount, the lower the percentage. Maximum for a single transaction: 350,000 RUB / 10,000 USD / 10,000 EUR |
| Money polo | 2 countries - Czech Republic and Great Britain | Via transfer points, credit cards or bank | As well as dispatch, as well as through electronic systems. Instant translation | Within the system, transfers are free. In other ways - from 1.8% |
| Moneybookers | 240 countries | Through a bank or card | To a bank account, card, check, SWIFT payment. Instant forwarding | Up to 1.9% for a deposit + 0.50 euros for a transfer + 1.80-3.50 euros for a withdrawal |
| MoneyGram International | 191 countries | Through special transfer points (the company has 230 thousand of them) or by credit card | At special points in 10 minutes, which also exist in Prague | Fees vary by country. You can calculate it on the website using a calculator |
| UNISTREAM | 95 countries | Through terminals and transfer points | At special points in 10-15 minutes | Transfer rates from 0.5%. Detailed terms of transfer by country are available on the website of the system. |
The limit is almost the same for all systems - you cannot withdraw more than 10 thousand USD / EUR with one payment. However, companies' conditions may differ slightly, and besides, they can often meet the client's needs.
PayPal
PayPal is a company that transfers real money, not payment units. This is where it differs from the aforementioned financial systems. Currency can be transferred from any country, including Russia, where there are a number of difficulties with PayPal, since it is difficult to withdraw money from an account to a card. But abroad, this procedure is possible, so transferring funds to the Czech Republic via PayPal is a worthy alternative.
Let's consider the procedure in more detail:
- For Russians, it is most profitable to open a PayPal account and link a card to it. Then financial transactions can be done directly from the card, and the system will act as an intermediary. To make an international transfer to the Czech Republic, you need to log into your personal account.
- Go to the "Send funds" tab.
- Next, indicate the amount of the transfer and the recipient's email address.
- Click on the "Submit" button. Money is sent instantly.
The commission depends on whether the amount was stored in a PayPal account or transferred from a card. In the first case, the commission is not charged, and in the second, you need to pay 3.4% + 10 RUB + 0.4-1.5% for a transfer to another country.
Postal money orders
The only way to send money to an individual without commission is to use the old proven method used by society before the internet. To do this, you need to go to the post office and arrange a transfer.
The post office in the Czech Republic is a modern and reliable organization that can be trusted to send money. Transfers are carried out through the following systems:
- Western Union, EuroGiro, Z / A and Z / C are used for financial transfers in Europe and the world;
- You can send crowns in the Czech Republic via SIPO, SuperCASH.
In addition to the standard commissions of the involved systems, the fee for such transfers is symbolic, but it is better not to send large amounts in this way.
Conclusion
If you are planning to visit the Czech Republic and make a large purchase there, choosing the right way to transfer money quickly and safely is one of the priority tasks. Among all the options for sending currency, it is most convenient to use payment systems. They make a transfer instantly, take a minimum commission for services, and often you don't even need to leave your home to complete a transaction.
