How you transfer money to the Czech Republic will depend largely on your circumstances and how much money you need to move.
Perhaps you want to transfer your pension, pay instalments on a property in the Czech Republic or simply transfer money to friends and family in the Czech Republic.
Whatever the reason, read on to decide which solution is best for you when you transfer koruna to the Czech Republic.
If you need to transfer koruna to an account with the Komercni Bank or Caylon Bank, for example, then a bank in your country of residence should be able to set things up with just one visit or phone call.
Unfortunately this convenience often comes at a cost. The foreign exchange rates on the Czech koruna are unlikely to be very competitive and you can expect to pay a percentage of your transfer in fees to the bank.
Money Sending Bureaus, your second main option when transferring money to the Czech Republic, will also impose these per-transfer fees each time you move koruna.
These small and often poorly regulated establishments can be found in major cities around the world and are a useful way to transfer koruna to the Czech Republic when your recipient does not have access to a bank account.
It is an inconvenience, then, that they tend to impose per-transfer fees of between ten and 15 per cent on top of a poor koruna exchange rate.
To avoid these fees and gain access to a much more competitive exchange rate it might be worth seeing what is on offer with Xendpay.
Most foreign exchange brokers will provide consumers with a good exchange rate due to the sheer amount of money they handle on a daily basis.
But the fact that Xendpay is also able to provide a low fee transfer service will keep your costs even lower if you choose to transfer money to the Czech Republic with us.
Why not open an online account today to see what the actual exchange rates are? Opening an account is free and there is no commitment to move money to the Czech Republic; you can simply compare exchange rates to find the best deal.