Banks are considered the safest place to keep your finances. With a bank account, you can not only make payments easily and inexpensively, but also receive payments. It is also useful when you get a job, as your employer will ask you for your account number to send your salary. Anyone can apply for an account. However, children under the age of 15 may open a so-called children\’s account. In addition, teenagers up to the age of 18 can open a so-called student account. For the convenience of its customers, the bank ensures that opening an account is quick and requires as little paperwork as possible. It is only a matter of time before the entire process of opening an account can be done online. For now, however, customer verification must be done at the bank branch where the personal account is opened. Identity verification is done by presenting documents such as an ID card, driver\’s license, or passport. Foreigners can open an account in the Czech Republic and submit their passport and another document for verification.
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What types of accounts can I open?

When opening a bank account, banks often offer three accounts.
Basic bank account – You can deposit money in the account or withdraw money from an ATM. You can also make payments. You cannot overdraw to the point of going negative. The advantage is that you cannot go into debt for it. Good for opening an account for the first time and testing how such an account actually works.
Checking account – It works on the same principle as a basic bank account. However, it is already possible to arrange loans and overdrafts with this account. However, it does not automatically provide for an overdraft.
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Savings Account – As the name makes clear, this is an account for saving money. The bank pays high interest on this account. It cannot be used to pay debts, but can be used to withdraw cash.

How to choose a bank

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Every bank attracts customers with different offers, but there is no one best bank. Choose a bank you can trust with your money based on whether the bank\’s offerings meet your needs
– Interest rates [39].
– Distance to branches and ATMs [40].
– Internet banking [41].
– Fees for deposits, withdrawals, and ATM withdrawals [42].
– Overdraft facility availability and terms [43].
There is something for everyone and no one bank is better than another. Don\’t forget to check out their references on the Internet. This too can tell you a lot about a bank.