Paying a Czech supplier in koruna or euros: domestic account number with a slash and IBAN, zálohová faktura for advances, IČO and account register checks.
Estimate the minimum fee
The final fee and rate are fixed in the payment order
Minimum amount: 10,000 USD or equivalent
This is a minimum, not an offer or a rate lock. The final figure depends on the country, amount and the banks involved and is fixed in the payment order.
Request a quoteCzechia is known for glass, crystal and porcelain, and Russian companies still buy tableware, bottle glass and packaging here. The second line is malt and hops for breweries. The third: medical and laboratory products, machinery parts, tools. Czech suppliers are used to small batches and regular orders, so payments usually come in series: one agreement with the agent, a separate payment order for each invoice.
Czechia is in the EU but has not adopted the euro. The national currency is the Czech koruna (CZK). Export invoices are issued in euros or in koruna, and a supplier often has two different accounts for the two currencies. If euros are sent to a koruna account, the beneficiary’s bank will convert them at its own rate, and the supplier will see a different amount from the one in the invoice. So we check the account number against the currency before the payment order. Besides the dates common to Europe, Czech banks have their own holidays: September 28, October 28 and November 17. No koruna payments are credited on these days.
We select the agent from our pool for the supplier’s bank in Czechia and for the currency. The koruna or euro exchange rate against the rouble and the fee go into the payment order before you transfer the money. For a guarantee, escrow is available on request: the roubles wait for execution in a special account at a Russian bank, for an additional fee. You do not need to pay VEDmost separately: the broker’s fee comes from the agent.
Within Czechia an account is written like this: prefix, number, a slash and a four-digit bank code. On websites and invoices a supplier often gives only this version. It will not work for a transfer from abroad: you need an IBAN, which starts with CZ and has 24 characters, and the bank’s SWIFT code. Ask the supplier for a bank letter or a statement showing the IBAN.
For a prepayment, a Czech company issues a zálohová faktura, an advance invoice. It is not a tax document. After payment, the supplier issues a final invoice, the daňový doklad, in which the advance is offset. You will need both documents for currency control, so ask for the final invoice right after shipment. The payment reference cites the number of the advance invoice.
A Czech company has an eight-digit IČO and a tax number, the DIČ, usually CZ plus the IČO. The IČO lets you find the company in the commercial register, which also shows its legal form: s.r.o. or a.s. If the supplier is a VAT payer, its bank accounts are published in the VAT payer register. It is worth checking the account in the invoice against it before payment: a simple protection against substituted bank details.
Czech banks ask the beneficiary about the origin of a payment. The same description of the subject in the contract and the invoice, and a payment reference citing them, usually settle the question. If the goods are on the EU prohibited list, the supplier is not allowed to sell them, and we will not take the deal.
Five steps, the same for every country. Country specifics are described above.
Beneficiary's country, amount, currency, the invoice and the contract or bill, your company's and the beneficiary's details. We review the request before any documents are signed.
We select a network company and a route and prepare the documents. You sign an agency agreement with that company, which sets the execution period, and a payment order: amount, exchange rate and fee. All of this before you transfer your roubles.
You transfer roubles to the network company from your account at a Russian bank. If you need a guarantee, they wait for execution in a special escrow account, for an additional fee.
The agent sends the currency to the beneficiary under this payment order. A sub-agent is engaged only with your consent. The route does not change without a payment order.
We send you the payment confirmation, and a SWIFT confirmation on request. Then the completion certificate, the agent's report and the currency control package. The deal is not closed until the currency has been sent to the beneficiary.
If you need a guarantee, the payment goes through a special escrow account at a Russian bank: the roubles wait there until the agent sends the currency to the beneficiary and are released only upon execution. This scheme carries an additional fee, shown in the quote before the agreement.
The agent executes the payment within 3 business days: the period is written into the agency agreement.
If the beneficiary's bank accepts payment only from a specific payer, the agent engages a sub-agent. Only with your consent. Your agency agreement does not change.
For large volumes, on request, we assign an agent backed by a large exporter's surety; some companies in our network have one. It can be combined with escrow.
Tell us the rate you pay now or send your current agent’s documents. We’ll calculate the all-in cost with the FX markup and charges and look for a lower rate in our network. If there isn’t one, we’ll say so. The comparison is free.
In the invoice currency. Czech companies often have two accounts, in koruna and in euros, with different numbers. Check that the account number matches the invoice currency.
That is the domestic format: the number, a slash and the bank code. A transfer from abroad needs an IBAN starting with CZ and a SWIFT code. Ask the supplier for them.
An advance invoice. It is not a tax document: after payment, the supplier will issue a final invoice. Keep both for currency control.
By its IČO in the public commercial register. If the company is a VAT payer, its published bank accounts are visible in the VAT payer register.
Czech banks ask the beneficiary where a payment came from. A contract and an invoice with the same subject, and a payment reference citing them, settle the question.
Describe the payment. We'll reply with a proposed route and terms. We name the agent in advance, and the rate and fee go into the payment order before your roubles are debited.