looking for a way to accept CZK payment without a bank account in Czech Republic

[void]

Nicaragua

ok, that might be a little bit difficult

the money you want to receive in CZK to the local Czech account are coming from regular (mostly) local tenants? if so I'd suggest to
* find a local nominee
* setup a simple (and cheap) proxy limited liability company (s.r.o.) with the nominee as director and only shareholder - this company will have no problem to open a bank account
* rent the property in your possession to this company - the contract will state that subletting is allowed
* this company will sign the contracts with tenants in local currency
* settlement between you and the company can be done at your convenience

 

[daniels27]

www.adyen.com may be able to help for 2% fees.

 

[linusAG]

Yes, this list is public, reachable at EUCLID register or CNB (Czech National Bank). I am only already too tired today so kudos to you
See you tomorrow

https://www.cnb.cz/export/sites/cnb/en/payments/.galleries/certis/download/list_certis.pdf

And the list of CERTIS participants

The only interbank payment system in the Czech Republic, which handles interbank payments in Czech koruna, is the CERTIS system (Czech Express Real Time Interbank Gross Settlement System).

 

[Forester]

It seems no CZK local transfer
https://ask.zen.com/hc/en-us/articles/11008482190876-Local-PLN-transfers-supported-by-ZEN

You are truly right. Just PLN and GBP locally. Thanks for the confirmation.

There are more similar payment processors in Czechia, I guess; but I am unable to recall the names at this moment Perhaps tomorrow

Euclid register lists up to 10; yet the names I was not able to recall yesterday were SAB Finance, Cyrrus and Global Payments Europe (no own experience though, just good references esp. to SAB Finance)...

Apparently, opening a bank account in Czech Republic for a Czech company with non EU owner (even with Czech nominee director) is impossible.

How have you got to this conclusion? In my deep opinion, with a CZ director it is possible (if you choose the proper bank and eventually the proper introducer).

the money you want to receive in CZK to the local Czech account are coming from regular (mostly) local tenants?

It seems so.

if so I'd suggest to
* find a local nominee
* setup a simple (and cheap) proxy limited liability company (s.r.o.) with the nominee as director and only shareholder - this company will have no problem to open a bank account
* rent the property in your possession to this company - the contract will state that subletting is allowed
* this company will sign the contracts with tenants in local currency
* settlement between you and the company can be done at your convenience

Yes, this is a viable way how to solve the problem. It's a little bit more expensive (but just a little bit, for the costs of running the another company) and less effective (there would be losses due to subletting) but it would work.

www.adyen.com may be able to help for 2% fees.

This platform has been unknown to me, I admit. Interesting. Definitely not cheap. (BTW, what about their FX margins?) Do you have a personal experience with them?

 

[Forester]

https://www.cnb.cz/export/sites/cnb/en/payments/.galleries/certis/download/list_certis.pdf

And the list of CERTIS participants

Yes. There are all subjects with the direct access to CZK local payments (banks mainly). EMIs and similar payment institutions must hold accounts with some of the abovenamed, as usually.

 

[linusAG]

https://www.cnb.cz/export/sites/cnb/en/payments/.galleries/certis/download/list_certis.pdf

And the list of CERTIS participants

There are a few non-bank/credit union participants:

https://www.citfin.cz
https://www.mastercard.cz/cs-cz.html


Multitude Bank p.l.c.(Malta) has a branch in Czech and is a participant in CERTIS, they are providing Virtual Accounts solutions to some fintech companies, But I'm not sure which fintech issues Virtual CZK local accounts over Multitude Bank

 

[linusAG]

You are truly right. Just PLN and GBP locally. Thanks for the confirmation.

https://ask.zen.com/hc/en-us/articles/16655036602268-Local-SGD-transfers-supported-by-ZEN
Also local SGD payments

This platform has been unknown to me, I admit. Interesting. Definitely not cheap. (BTW, what about their FX margins?) Do you have a personal experience with them?

They are a very big player in the payment industry, they even have their own FED master account. I don't think they will be friendly to small volumes.

 

[daniels27]

This platform has been unknown to me, I admit. Interesting. Definitely not cheap. (BTW, what about their FX margins?) Do you have a personal experience with them?

I only used Adyen for payments as customer, some webshops use them to collect bank transfers, mainly in Europe. Also, eBay switched to using them a few years ago (also for credit card processing, I think). They have some quite big customers.

 

[Buratino]

Paysera. they will receive CZK and keep it on separate sub-account with the same name like your IBAN LT... and you can pay out CZK too

 

[linusAG]

I only used Adyen for payments as customer, some webshops use them to collect bank transfers, mainly in Europe. Also, eBay switched to using them a few years ago (also for credit card processing, I think). They have some quite big customers.

Yes, I remember some stores of big brand cosmetics use the Payment terminal of Adyen

 

[daniels27]

Maybe, you can use Roken. I think they offer some sort of QR code for the payment.
https://www.roklen.cz/roklenfx/en/faq/

 

[Forester]

Paysera. they will receive CZK and keep it on separate sub-account with the same name like your IBAN LT... and you can pay out CZK too

Yes; yet not as a local CZK payment via CNB clearing system but via SWIFT – or am I wrong? (It seems to me that they are able to receive payments locally in LT and BG only.)

 

[daniels27]

How about CSOB and PPF, they did not like you?

 

[Forester]

https://ask.zen.com/hc/en-us/articles/16655036602268-Local-SGD-transfers-supported-by-ZEN
Also local SGD payments

Oh well. Really. I have just overlooked it here https://ask.zen.com/hc/en-us/sections/12415564842524-Local-bank-transfers. (Just as a last link, omitted in perex. My bad.)

 

[linusAG]

Oh well. Really. I have just overlooked it here https://ask.zen.com/hc/en-us/sections/12415564842524-Local-bank-transfers. (Just as a last link, omitted in perex. My bad.)

Unfortunately, they only offer local payments in these currencies to local residents (sorry, I'm digressing a bit from the topic of this post).

 

[linusAG]

Maybe, you can use Roken. I think they offer some sort of QR code for the payment.
https://www.roklen.cz/roklenfx/en/faq/

I'm curious about if they can fund by third party's accounts?

 

[daniels27]

How about this one:
https://multipass.co/solutions/countries/czech-republic

 

[linusAG]

How about this one:
https://multipass.co/solutions/countries/czech-republic

Let me check with my contact at multipass

 

[Forester]

How about this one:
https://multipass.co/solutions/countries/czech-republic

Let me check with my contact at multipass

Well, colleagues, let's wait for the @Tom1020's feedback
(Multipass service is not much cheap, to tell the truth.)

Nevertheless, it's an interesting information for me that they are eventually able to reach CZ local payment network – I understand this
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Supported payment networks:
SWIFT, Direct Entry (available upon request on a case by case basis)
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exactly in this way...