Credits and Loans
What is a consumer loan and which types of loans can Komerční banka offer me?
Thanks to consumer credit – or loans – you can finance anything that you don’t have the finances for right now, be it a holiday, car or new wardrobe.
Komerční banka offers specialized credit for various purposes. For example, with Premium půjčka (Premium Loan), you can obtain up to CZK 2.5 million on your personal account without collateral and you’ll also get insurance against inability to pay free of charge!
If you are look for a way to consolidate your other loans, you can make use of Optimální půjčka (Optimal Loan), thanks to which your monthly instalments are reduced and you save on fees.
If you need cash quickly, the optimum solution is the Garant Loan, through which you can quickly gain from CZK 200 000 to CZK 10 million. The benefit of loan is a lower interest compared to a consumer loan and that the bank does not examine the purpose for which the money is used. The loan is always secured by real estate.
The Lady Card is designated especially for women. With it you can spend without worries while utilizing interest-free credit. The Lady Card has a number of other benefits, such as a discount programme at a host of brand name shops, special events, and modern insurance for your card, handbag and purchases.
An overview of other loans can be found in the Money for Anything section.
I have a number of loans. Can I consolidate them into one? What are the benefits?
Yes. If you have various types of loans – consumer loans, credit cards, authorised overdraft – and not only at Komerční banka, but also at other banks or payment companies, you can merge then into one as part of Optimální půjčka (Optimum Loan).
The benefits are clear:
- Lower monthly instalments
- Lower monthly expenditure as a result
- Savings on current fees on all loans/credit
- Arrangement fee related to the Optimum Loan for free
- Possibility to borrow money above the consolidated loans
I’m studying university and need a cheap loan for tuition and a notebook. Do you have anything for students?
Yes. We offer Úvěr Gaudeamus (Gaudeamus Loan) from CZK 20 000 to CZK 600 000 to secondary school, college and university students.
The benefit of this loan is that university students can use the loan for whatever they please, not only to pay tuition. Students do not have to start paying back principal until after they complete their studies. For the duration of their studies, they only pay interest off the utilised loan.
If, however, you only need a notebook, we recommend the special Apple Notebook Loan, which is designated for university students in particular. You will receive an Apple notebook at a favourable price, with EAR from 12.6% and a G2 student account.
I have a private business and I need a loan. I have been successfully running my business for several years now, but I am afraid of finding myself in difficulties and not being able to repay the loan. Is Komerční banka able to cover this risk?
Yes. Insurance against inability to pay in the case of death, complete disability and inability to work is a usual part of loans.
As you have your own business, we recommend Profi úvěr Fix (Profi Loan Fix), through which you will receive not only a loan under favourable terms and conditions, but also free insurance against your inability to pay.
I would like to open a private account with KB, what do I need?
If you are a Czech citizen, all you need to set up a current account is to present is your personal ID card and one other document, e.g., a driving licence or passport.
If you are a foreigner, you should present a valid ID card (e.g. personal ID card or passport) and a second document with a photograph.
If you have never made use of any of Komerční banka ‘s services, we recommend the MyAccount package, which contains the following:
- Current account in CZK
- Embossed Card with travel insurance
- Choice of direct banking
- MojeBanka (MyBank) internet banking
- Expresní linka Plus (Express Line Plus) telephone banking
- Mobilní banka (Mobile Bank) mobile banking
- Possibility to take part on the MojeOdměny (MyRewards) concept
May I change the type of account and keep the same account number?
Yes. As a natural person – individual, you can change your account to any other account type intended for natural persons and keep the same account number.
I have moved and I need to transfer my account to another branch. What do I need to do for this and what are the fees?
You can transfer your account from one branch to another without any problems.
You can request this at the branch that holds you account or at the new branch. Contact your banking advisor, who will arrange the transfer of your account.
The transfer of current account between branches is free of charge.
How can I operate my accounts in KB?
You can operate your accounts via direct banking (MojeBanka, Expresní linka Plus and Mobilní banka).
Telephone banking – Expresní linka Plus – allows you to monitor movements on your accounts, have an immediate overview of the current balance, and execute payment orders. A big benefit of Expresní linka Plus is the possibility to access from any place at any time.
Internet banking – MojeBanka – will provide you secure access to your accounts via the internet, where you can execute payment orders, ascertain your current balance, or download account statements.
Mobilní banka offers the benefits of internet and telephone banking. Through your cell phone you can manage all your accounts and execute payment orders or top up your cell phone credit.
Do you offer a special account for students?
Komerční banka offers students the G2.2. This is an account tailored to the needs of young people and students from 15 to 30 years of age.
The student account includes the following services and products free of charge:
- Current account in CZK with the possibility of going into the red
- International payment card
- Telephone or internet banking for free
- Possibility to draw a student loan up to a level of CZK 500,000
- Free delivery of account and card statements electronically or by post.
Incoming payments to your student account are also free of charge as are several withdrawals from KB ATMs.
The exclusive G2 package also includes one free withdrawal from an ATM abroad per month and a foreign currency account held in EUR.
I want to deposit CZK 200,000. Can you recommend an account with favourable interest?
Komerční banka can offer you term and savings accounts with higher rates of interest than classical current accounts.
A savings account allows you to save funds at a better interest rate than on a classical current account while still allowing you to have access to your funds at any time.
With funds on a term account, you can only withdraw your funds on the maturity date (7 days, 14 days, 1 month to 5 years). If you are making use of certain product and service packages (Current account, Premium account, Extra account or Ideal account, B-account, Duo account, Gaudeamus account and G2), you will receive a bonus interest rate, i.e., the annual interest rate will increase by 0.2%.
As part of the KB Guaranteed deposit with maturity of 3, 6 or 12 months, you can appreciate your saving thanks to a favourable interest rate at minimum risk – your deposit is insured by law.
If you are interested in greater appreciation of your savings, you can invest into unit trusts of Investiční kapitálová společnost or invest them as part of the Vital programme, which offers a combination of life insurance and investment into funds.
I would like to withdraw funds from a term deposit, but this month's maturity date falls on a Saturday. When can I withdraw my funds?
If the maturity date of a deposit falls on a weekend or public holiday, you can withdraw your funds the following working day.
If you operate your term deposit via Expresní linka, which is available 24 hours per day, you can call directly on the maturity date of the term deposit.
Can I open an account with you in foreign currency?
Yes. Komerční banka opens foreign currency accounts for natural persons – individuals in several foreign currencies, such as EUR, USD, CHF or GBP.
It is possible to deposit funds in any foreign currency that Komerční banka trades in, in foreign currency accounts.
I need a current account, payment card and simple operation of the account. What would you recommend?
The ideal solution would be the MyAccount package, which contains the following:
- Current account in CZK
- Embossed Card with travel insurance
- Any choice of direct banking channel
- MyBank (MojeBanka) internet banking
- Express Line (Expresní linka) Plus telephone banking
- Mobile Bank (Mobilní banka) mobile banking
If you arrange for MyAccount, you are automatically included in the MojeOdměny programme. If you fulfil a number of the stipulated terms and conditions, you will receive a reward of up to 50% off the monthly fee for maintaining the MújÚčet package each month.
The terms and conditions for receiving the award can be found on the MyAccount product list or on www.mojeodmeny.cz.
Which type of account is suitable for me if I need two payment cards for the account, to pay on the Internet and simply operate my account via the Internet or over the telephone?
The Extra account suits your requirements. Among other things, it includes two payments cards, a virtual payment card for payments via the Internet, telephone, Internet and mobile banking as well as a current account in EUR. All transactions submitted via the MojeBanka application and Mobilní banka and all incoming payments to the account are free of charge.
Do you offer an account which has a gold payment card with travel insurance?
Yes. Komerční banka offers the exclusive TOP nabídka package. The package includes the following:
- Current account with exclusive interest
- Two gold payments cards and one embossed international payment card
- Exclusive travel insurance
- Account management via land line and cell phone
- Internet banking
- Two Merlin payment card insurance policies to the primary account in CZK
- Virtual payment card for secure payments via the Internet
We have a school-age child and would like to set up an account for her. Do you also offer an account for children?
We appreciate your effort to teach your child financial literacy; for this reason, we are trying to do the same. We have a saving product geared especially for children – Ladybird Children's Account.
In addition to a gift, your child will also received a payment card for free, with a picture that he or she can choose herself on www.mojekarta.cz.
Parents have the possibility to passively check the balance of the Ladybird Children's Account as part of their internet banking.
The Ladybird Children's Account also bears interest – the interest rate is now 2.5%.
I set up a SIPO a month ago, but so far nothing has happened. Why is that?
For the receipt of payment, the decisive day for SIPO is the 18th day of the month.
If SIPO is set up by this day, SIPO takes effect on the month that follows. If it is set up after the 18th day of the month, SIPO is launched a month later.
Do you have an attractive account intended directly for entrepreneurs starting out in business?
Yes, Komerční banka can offer you Profi účet pro začínající podnikatele (Profi account for entrepreneurs starting out in business). The name already makes it clear who it is intended for.
The Profi account provides the following:
- Current account with the possibility to use the authorised overdraft
- Monthly electronic account statement
- International embossed payment card
- Selected direct banking service (Expresní linka Plus or MojeBanka)
- Lower maintenance fee for the MyAccount personal account under the Profi programme
With the Profi account you can take part in the MojeOdměny concept. See www.mojeodmeny.cz.
How can I effectively manage my business and personal finances – do you offer a solution?
The ideal solution for you could be Programme DUO. Thanks to this programme, you can gain management of a package for your personal finances – Duo account – free of charge to go with each business package for the whole period you hold this. The Duo account includes a current account in CZK, a direct banking service of your choice, payment card and two free withdrawals from KB cash machines every month.
I have heard the term micro entrepreneur. Could you tell me what the definition of this term is and what this status means in relation to the bank?
A micro entrepreneur is a small-scale entrepreneur, i.e., a corporate entity (entrepreneur or natural person) that has less than 10 full-time employees and an annual turnover or annual balance sheet budget of up to EUR 2,000,000. In terms of the Act on Payments, a micro entrepreneur enjoys the same rights and advantages in the field of payment services that consumers do.
Internet banking – MojeBanka
What is MojeBanka? Is it sufficient safe? Isn’t its operation too complicated?
MojeBanka is a modern service provided by KB that allows you to carry out day-to-day banking operations via the internet (i.e., on-line). Thanks to this service, you have continuous access to your finances and can manage your accounts from the comfort of your own home.
Using the MojeBanka service is absolutely secure. All operations, such as payment orders, permanent orders, direct debit consents, SIPO, topping up your cell phone credit or obtaining balance information takes place in a secured protocol. Each operation can only be executed by the user using an electronic signature.
Entry into the system in possible only based on a personal KB certificate that can be obtained at your branch of Komerční banka.
Working with internet banking itself is very simple and intuitive.
What do I do in case of problems using MojeBank internet banking?
All questions concerning the use of direct banking – be it problems with certificates, technical questions or payment questions – can be found in the FAQ for Direct Banking.
Should you run across any ambiguities or problems, please contact the client info-line 955 551 552 or Skype MojeBanka KB.
You will also receive speedy assistance at the e-mail address email@example.com.
I am looking for internet banking for my company where the emphasis is on security. Can you recommend a product?
As an optimal solution we can recommend the Profibanka service. This is a top-of-the-line direct banking product that brings together the benefits of internet banking and the effectiveness of local applications. Profibanka is the most complex product on the Czech market which is intended especially for companies.
With Profibanka you can manage your company finances with the best possible security. All communication takes place within a secured protocol and each active operation is signed by the user with his electronic signature.
To receive Profibanka, you need to have at least one CZK account open at Komerční banka. It is also necessary to present a trade licence or extract from the Commercial Register.
You can find more information in the Profibanka product list or on the toll-free KB info-line 800 521 521.
Telephone banking – Expresní linka Plus
Is Expresní linka safe?
Of course. An advantage of the product is the top quality security solution that makes use of the experience gained by leading global banks. A security procedure is performed at the start of each telephone call, which consists of identification and verification of the identity of the caller. All calls are automatically recorded and archived.
Are there any other ways of obtaining a PIN for Expresní linka other than by post?
You specify the method of handover of the PIN when signing the contract on provision of KB Expresní linka. As standard, the PIN is sent by registered post with delivery confirmation. You can also arrange sending of the PIN directly to your branch, where you can then pick it up in person.
Is there any limit for operations?
Yes. The selected type of security corresponds to the maximum daily limit for the client determined by the bank. The client can decrease this limit to zero according to his or her own needs.
Is it possible to get a mini-statement from Expresní linka for a specific day?
Mini-statements are sent pursuant to the agreed Conditions for use of KB Expresní linka, usually for periods of 10, 20 and 30 days.
Can I use Expresní linka abroad?
Yes. You can also call from abroad using the telephone number +420 955 559 559. These calls are charged as standard according to your operator's tariff.
How long does clearance of items created via Expresní linka take?
Clearance of transactions takes place in exactly the same manner as with other forms of payments or transfers. Funds are transferred immediately in accounts held with KB. If you submit a payment order on a working day by 8:30 pm, it can be expected to be processed on that same day.
Can my spouse or another member of my household use the service?
Yes. It is entirely up to you who you allow to access your accounts via Expresní linka, but you must state this when drawing up the contract. Other authorised users will receive their own security codes for use of telephone banking.
Is it possible to perform transactions from an account in foreign currency to an account in another foreign currency via Expresní linka?
You can only transfer money to accounts in foreign currency held with KB via Expresní linka.
Expresní linka Plus
What is Expresní linka Plus?
Expresní linka Plus is an additional service to go with Expresní linka. It provides Internet access to your accounts.
How can I get Expresní linka Plus?
You can simply activate Expresní linka Plus (Internet access) via a telephone banker.
How do I access my accounts via the Internet?
Click on the Expresní linka – Plus on-line button on the www.expresni-linka.cz website. Then enter the PIN for the account that you use for access to Expresní linka on the login page.
Is it possible to block or deactivate Expresní linka Plus?
Yes. You can block/unblock or deactivate/activate this additional service very easily by contacting a telephone banker.
What is Mobilní banka?
Mobilní banka makes it possible to manage your account using the keypad and display on your mobile phone. Its benefit is that you manage your finance anywhere at any time.
You can use Mobilní banka to verify your account balance or transaction history, or you can use it to make one-off payments, top up your mobile phone credit or have messages sent to you about payments implemented.
Security Mobilní banka is designed on the basis of the experience of leading world banks, and all communication takes place within the coded AES protocol.
How can I get Mobilní banka and how will I operate my account via cell phone?
You can request activation of Mobilní banka by telephone using Expresní linka Plus.
A telephone banker will help you set up your phone and if necessary can check whether your mobile phone is compatible with the service.
Using mobile banking is simplified by the fact that for accessing your account you use the same security codes as when using the Expresní linka Plus service, i.e.:
- Password or an optical key card
Is my telephone suitable for installing Mobilní banka?
In order for the Mobilní banka service to be functional, you need to have access to data services. The set up of the data connection is fully in your hands.
When it comes to the telephone itself, at Komerční banka we differentiate phones as follows:
- Supported – these phones are fully supported by Komerční banka
- Optimised – all of the functions of Mobilní banka have been tested at Komerční banka on all phones of this type and the problem–free operation of Mobilní banka has been confirmed
- Functional – these telephone have been tested in terms of the functionality of Mobilní banka by clients of Komerční banka whose profession or hobby is mobile technology
Click on the List of supported telephones for all required information and links to the website of the biggest telephone operators that deal with setting up and accessing data services.
Payments and payment transactions
Is it possible to cancel a payment with advance due date that has already been submitted?
A submitted and approved payment with advance due date can be cancelled at the Komerční banka branch that holds your account.
If you have submitted payment with advance due date via Expresní linka Plus, you can cancel this payment by telephone no later than one business day before the due date.
You can also cancel the payment no later than one business day prior to the due date via the MojeBanka application, if the payment was submitted via the internet.
The cancellation fee can be found in the KB Price list.
A foreign client will be sending me money. What details will they need from me to make the payment?
A transaction from abroad made to an account held at Komerční banka can be performed using a so-called “smooth payment”.
Your client can submit this payment at any foreign financial institution. The following details are all that need to be mentioned:
- Account number in IBAN format
- Recipient's name
- Recipient's address
The swift code (international identification) must also be stated, which for Komerční banka is KOMB CZ PP.
We recommend making use of KB Europayments or SEPA Europayments, as these are cheaper.
The conditions for these types of payments from abroad are as follows:
- Transfer within the European Economic Community
- Payment submitted in EUR (for KB Europayments up to a limit of EUR 50,000)
- Order must include the IBAN and BIC (SWIFT code)
- Fees are settled by the payer and the recipient (indicated as SLV or SHA)
- Order must not be labelled as urgent and has to be submitted without any special demands for processing
You can check the account number in IBAN format on the toll-free information line 800 521 521.
What is the difference between IBAN and SWIFT (BIC) bank codes?
IBAN represents an international account number, i.e. data from where and to the payment is to be made. The SWIFT (BIC ) code is the international identification flag of the bank.
IBAN (International Bank Account Number) is the international format of the bank account number enabling to make payments to and from abroad. The IBAN consists of two characters for the country code, two check characters and the account number. The maximum length of the IBAN is 34 characters.
To verify an account number in the IBAN format free of charge, then call the free information line on 800 521 521.
SWIFT (Society for Worldwide Interbank Financial Telecommunication) is the organisation ensuring standardized international payments. SWIFT is a fully automated network enabling simple, fast and fully secured communication between banks. Each SWIFT member bank has its own unique identification code – BIC.
BIC (Bank Identifier Code) is the international bank identification code. BIC has 8 or 11 characters and consists of a 4-digit bank code (the code for the Komerční banka is KOMB), a 2-digit code (the code for the Czech Republic is CZ) and a 2-digit code for the region or the town (the code for the Komerční banka with its registered office in Prague is PP). In the case of an 11-digit BIC, a 3-digit branch code is added.
The BIC code for the Komerční banka is KOMBCZPPXXX (KOMBCZPP).
What is a credit card? Can I use it for secure payment in shops?
A credit card is a payment card which you can use to gain continuous access to additional funds. You can draw such funds up to your credit limit.
You can use a credit card can to pay in shops or withdraw cash without drawing on your own savings in your current account.
What’s the difference between a credit card and a payment card with an authorised overdraft?
An authorised overdraft allows you to overdraw your debit account for a short time. A condition for being granted authorised debit is having a positive or zero balance at least once during the maturity period (30 or 180 days). An overdraft limit of up to CZK 60 000 is set by the bank upon an individual assessment of the client.
A credit card is a credit product that combines the benefits of a payment card and a non-specific purpose loan. The advantage of a credit card is an interest free period of up to 45 days, after which you don’t pay interest off the amount drawn. You can also choose instalments. At the same time the rule applies that the more you payback, the more credit you can draw again.
I like to shop and pay by card. I have heard about the KB credit card that is only for women. Is this true?
Yes. The Lady Card, a new credit product that has something extra, is intended especially for women. With this card, you can spend without worrying while making use of interest-free credit for up to 45 days.
Lady Card has other benefits:
- Discount plan in a host of brand name shops in the Czech Republic
- Special events
- Modern insurance that includes insurance for you card, handbag and purchases
- 1% of each payment using Lady Card goes to your pension insurance account at Penzijní fond KB
For more information, visit www.ladykarta.cz or see the Lady Card product list.
Do you offer a credit card for entrepreneurs?
Yes. We offer a credit card intended for entrepreneurs. With this card, you will receive a revolving loan of up to CZK 200 000 without collateral (security).
You can use the credit card for anything. What’s more, you can make use of an interest free period of 45 days, during which you don’t pay interest off the drawn amount. Monthly you will pay 1/10 of the drawn amount and interest.
I wanted to pay by credit card, but the transaction was not authorised. What was the cause of this?
You can only use your credit card if you have sufficient available credit in the account.
Withdrawing funds is also automatically restricted in the following cases:
- You have exceeded your weekly limit
- You have exceed your credit limit
- You have not mad your regular minimum monthly repayments
What does “interest-free period” mean for credit cards?
The interest-free period is one of the main advantages of using a credit card. At Komerční banka, this period is 45 days.
The interest free period works like this:
- As at the 5th day of the month, you will get a statement from the credit card account, where you find out the payment amount (1/10 of the drawn amount) and interest.
- If you pay the full amount appearing in the statement (either at once or by a number of extraordinary payments) by the 20th day of the month, you will be entitled to make use of the interest-free period.
- At the end of the month, you won’t have to pay the regular monthly amount and, thus, no interest if you pay the utilised amount on time.
Where can I find information about the balance on my credit card so that I can make use of the discount interest rate?
Always by the 5th of the month, you will be sent, free of charge, a statement containing the following:
- Information about the total debt
- Transaction history and description
- Amount and due date of the regular monthly payment
- Offer to receive the interest-free period, provided the account complies with the contractual terms and conditions (i.e., it is not delinquent)
If you have arranged for electronic statements, you can find the credit card statement in MojeBanka internet banking or on Expresní linka Plus.
At MojeBanka internet banking you will also receive information about the interest-free period under your credit card profile.
How can I get a credit card?
If you are already a Komerční banka client, you can apply for a credit card at your nearest branch of Komerční banka, via MojeBanka Internet banking or by calling the toll-free info-line 800 521 521.
I am considering getting a payment terminal for my company. Which advantages other than greater convenience for my customers does a payment terminal provide?
Getting a payment terminal is also of benefit to you. It has been proven that a client paying using a payment card spends on average 30% more than a client paying in cash, which could mean an increase in turnover for your company.
A big advantage is greater security and reduction of risk of having too much cash on your premises or in your shop (risk of theft, robbery). Another benefit is fewer costs and less time expended on managing cash and depositing it in the bank.
Last but not least, you will enjoy the reputation of a merchant that offers his customers maximum comfort.
The technical requirements for a payment are minimal – all you need is a telephone or internet connection.
Does Komerční banka offer a payment card with insurance for travel abroad?
Insurance coverage for trips abroad is standard for international embossed payment cards.
With insurance coverage plans for gold Visa and MasterCard international cards, the insurance not only covers the cardholder, but also his or her family members.
When the cardholder's direct family members travel with the cardholder, they receive continuous coverage for the first 60 days (90 days for Platinum cards).
I made a transaction using my payment card in Great Britain for an amount of GBP 50. What amount will be deducted from my account and when?
The amount is first converted into USD or EUR, depending on the company that issued the payment card.
The resulting amount is then recalculated into the currency of your account and according to exchange rate valid on the date when such a transaction is cleared in your account.
A certain amount was deducted from my account for a transaction made using my payment card even though I did not make any such transaction. What do I do?
In such case, you can make a claim at the branch that holds your current account.
If you are a telephone banking client, you can make this claim via Expresní linka Plus.
What do I do when an ATM does not give out the requested cash?
There may be a number of reasons why an ATM does not give out cash:
- It is possible that the ATM does not have the sufficient number of requested banknotes.
- You have reached your agreed weekly limit.
- You are requesting an amount that exceeds you available account balance.
If your situation differs from the above possibilities, contact the Komerční banka Info-line 800 521 521.
Can I use my payment card to pay for goods over the Internet?
Payments over the Internet are possible using embossed cards issued by VISA and MasterCard, and Visa Electron electronic cards. In order to launch this service, you must first unblock the payment card.
The card can be unblocked for online purchases by visiting a branch or contacting the bank by telephone if you use Expresní linka telephone banking.
If you would like a payment card only for purchases over the Internet, we can offer you a virtual e-Card – a special payment card designed for payment on the Internet, which comes in the form of a 16-digit code.
How can I tell if a merchant uses a secure on-line payment system?
For on-line purchases, a number of methods of payment can be used. All are considered secure:
- Payment by credit or debit payment card
- Payment by transfer from account
- Payment using the MojePlatba services
For secure card payments, the globally standardised technology 3D Secure, supported by the biggest card companies Visa and MasterCard, is used.
- This solution allows for the high transparency of executed payment transactions.
- It has the highest level of security.
- The security of transmitted data is ensured via the HTTPS protocol, which uses strong and modern coding algorithms.
A customer can tell if a merchant supports the 3D Secure standard if the following logos are present:
For a layperson in on-line purchases the rule applies that he or she should use the services of well known on-line shops, which are usually the on-line branches of usual brick and mortar businesses. Be certain to take advice from friends and acquaintances who are frequent on-line shoppers – they will provide verified references. Price portals (zbozi.cz, zbozi.centrum.cz) are a good source of verified on-line businesses.
Tip: For on-line payments use the e-card – virtual payment card – product. We also recommend setting payment limits.
What should I do if an ATM seems suspicious to me, if it has some extra features or does not return my payment card?
In such a case, do not hesitate and immediately call the info-line which is listed on each cash machine.
If the cash machine is located in or outside a branch, please report your suspicions to KB employees without delay.
What is MojeKarta and how can I get it?
MojeKarta is a classical payment card, but with something extra. You can place any picture or photograph you like on the front of the card.
This is done on www.mojekarta.cz, where, through a special application, you can create your own design for any payment card issued by Komerční banka.
First, however, it is necessary to visit a branch and obtain a special code that gives you access to the application. Your new original card will be posted to you.
Investing in unit trust funds
What is the minimum amount that can be invested in your funds?
The initial investment is CZK 5 000. If you then invest regularly, amounts starting at CZK 500 will be enough.
The minimum investment in secured and guaranteed funds KB Akcent is CZK 10 000.
Are investments in unit trusts insured?
In the case of open-ended trust funds, this is not a deposit, but an investment in securities. For this reason, the money in unit trusts is not insured.
We therefore recommend to all holders that they monitor regularly (e.g., on the IKS KB website, at a branch or as part of economic news) how the fund manager is managing the funds.
If a shareholder is not satisfied with the development of the fund, he or she can redeem the unit trust certificates at any time.
Can I also invest in unit trust funds by telephone or internet banking?
Yes. Clients of Expresní linka Plus can easily conclude the frame “Agreement on the Terms and Conditions of Purchase of Unit Trust Funds” and begin investing immediately in ay KIS fund. With Expresní linka Plus, you can also obtain information about the development and structure of your portfolio.
Internet banking users have the same possibility via the MojeBanka application.
People who are not Expresní linka or internet banking clients can also conclude the frame agreement on the toll-free IKS KB info-line 800 111 166.
On this info-line you will receive all information about the products and services of Investiční kapitálová společnost KB.
Does your company sent statement to clients? If so, how often?
IKS KB sends statements to all clients with information about the state of their assets on a special account that is set up upon conclusion of the frame agreement.
The statements are sent either regularly every six months or upon any movements on the account, e.g., in the case of purchases or sales of unit trust certificates. IKS sends the statements free of charge.
Why is it better to investment via open-ended unit trust funds?
Very few of us have such an amount of financial resources, information, experience and time to be able to investment in various types of financial markets without help. For this reason, it is better to team up with someone who offers professional services and various types of funds.
IKS KB belongs to the three biggest providers of collective investment services on the Czech market. The company’s success is also demonstrated by the fact that in 2011 it managed assets worth CZK 99 billion.
Investing in funds also has another important advance – saving on transaction costs that the investor would have to pay for each operation separately.
What are the risks of investing in unit trust funds?
There are a number of risks tied to investing. There is no need to be excessively worried about them, as we are able to limit them.
Under the law, every fund has to spread out credit risk – when counterparties fail to meet their obligations – in a way that it does not invest most of its portfolio in one entity (the maximum possible position is 35%), with the exception of investments into the government bonds of EU Member States.
Market risk lies in the fluctuation of investment, where the market price of bonds fluctuates very little while shares can fluctuate in tens of percents. Through an appropriate investment combination, we are able to minimize this risk and ensure that a drop in one type of investment is compensated by the growth of another.
Whereas bonds are a conservative and stable component of investment, shares are an opportunity for higher returns.
If I transfer unit trust certificates to someone else, do I have to pay gift tax?
You can arrange to transfer the unit trust certificate for a consideration or for no consideration (donation).
A transfer for a consideration is similar to a sale of a unit trust certificate.
In the case of donation, the transferee should pay gift tax. The price of the unit trust certificate is of importance here and whether the transfer takes place between relatives. More details can be found in the appropriate legal regulation.
Is it possible to transfer unit trust certificate to a different person?
Yes. In the case of a transfer between certificate holders, a purchase agreement or gift deed has to be concluded. This document then has to be presented to your banking advisor.
Can I authorise someone else to handle my unit trust certificates?
Yes. You can authorise a third party
to handle your unit trust certificate based on a notarised power of attorney
The scope of the power of attorney can of course be determined individually. An officially verified power of attorney is valid upon presentation anywhere.
Does the fund pay out dividends?
No. All revenues from the fund are reinvested, to ensure that fund assets grow.
Profit is thus not paid out in the form of dividends, but reinvested to become a source for further returns. The fund thus attains the best possible results.
This method is advantageous from the tax point of view. If the fund paid dividends, the final earnings would be reduced by the withholding tax amount.
Can I, as a natural person, apply certain tax benefits if I received income for the sale of unit trust certificates?
Yes. If you participated in the given fund continuously for longer than 6 months, you do not need to tax the income from the sale of the unit trust certificates.
Does the company charge any fees for the purchase or sale of unit trust certificates?
As part of the KB Dynamický Profil fund, we charge a fee in connection with the purchase of unit trust certificates, no fee is charged upon their sale, however.
IKS funds, on the other hand, charge a fee in connection with redeeming the certificates, but not upon their purchase.
Information about fees can be found on www.iks-kb.cz, at KB branches, or on the toll-free info-line 800 111 066.
Do you offer insurance, which would provide my family with financial security in the event of my death as a result of injury?
Yes. We keep in mind cases where the client of a current account suddenly dies, suffers an accident, or is on sick leave for a longer period of time and his or her family is facing a difficult life situation.
Thanks to the modern insurance product MojePojištení plateb (payment insurance), you or your family can received up to CZK 10 000 per month, depending on the type of insurance event and chosen insurance option.
Furthermore, you can expand your insurance to the Extra/Extra+ option for loss of employment.
Can I insure a vehicle with you?
Yes. In this connection, we can recommend the Autopojištění (Car Insurance) product, which was offer in connection with Česká pojišťovna.
As part of Autopojištění, you can arrange for accident insurance and other supplementary insurance on top of damage liability.
Furthermore, you will receive non-stop assistance services (+420 224 557 004) with the high-quality and tested services of Česká pojišťovna and numerous bonuses and discounts.
Do you offer property insurance? What are the benefits of this insurance?
Yes. We offer Pojíštění majetku (Property Insurance) in cooperation with Česká pojišťovna. This insurance allows you to insure your property against unforeseeable events as well as coverage of damage liability from the ordinary actions of persons living in the insured household.
You can insure any permanent or recreational occupied building or household.
The benefits are quick response and businesslike conduct, quality assistance services and a number of discounts and bonuses. Property insurance can be concluded at any branch of Komerční banka.
What is VITAL Invest?
Vital Invest is investment life insurance in the case of death and survival. Its advantage is in that you can actively take part in deciding how your deposits should be handled. You can determine your own investment strategy by choosing from five offered funds:
- Fond s garantovaným zhodnocením (with guaranteed appreciation)
- Konzervativní fond (conservative)
- Balancovaný fond (balanced)
- Dynamický fond (dynamic)
- Dynamický Plus fond
In addition to guaranteed returns of 2.2% for 2012 (applies to the Fond s garantovaným zhodnocením), Vital Invest has a number of other benefits: guaranteed returns on your investment in case of death, maximum flexibility and tax benefits.
Vital Invest is provided by Komerční pojišťovna, a.s., which belongs to KB Group.
Can I make extraordinary deposits and withdrawals in terms of VITAL Invest investment life insurance?
You can make extraordinary deposits at a minimum level of CZK 5,000 and withdrawals whenever you want, although withdrawals can be made to a maximum level of 90% of the technical reserve (value of the client's account) maintaining a minimum balance of CZK 10,000.
The minimum withdrawal amount is CZK 5,000.
You can transfer funds between individual funds over the duration of the insurance, thus adjusting investment strategy according to your current requirements and thus achieve a higher income.
I have a payment card, which I regularly use to make payments, but what if I lose it? Do you offer any card insurance that can provide me with protection against its loss or theft?
Yes. Our offer includes Merlin insurance, which will safeguard you against the consequences of theft or fraudulent use of all your payment cards, not only those issued by Komerční banka.
Furthermore, in additional to payment cards, the insurance also extends to:
- theft of cash withdrawn by card
- loss or theft of personal effects
- fraudulent use of your cell phone
- levied bank fees
Does Merlin card insurance also extend to business payment cards?
If you are an entrepreneur, we can offer you a specially tailored offer of the insurance products Profi pojištění plateb and Profi Merlin.
In addition to all of the benefits of Merlin insurance, Profi Merlin insurance also provides compensation in case of theft of sales revenue being taken by an authorised person to a KB branch.
Profi pojištění plateb will provide a monthly income of CZK 40 000 for 12 months in case of an adverse event.
I want to save under favourable conditions into the future. Which product would you recommend?
We recommend Vital savings life insurance, which offers advantageous interest rates and a secure way to evaluate resources. The tax benefits are also not insignificant, and it is possible to withdraw up to 90% of the technical reserve at any time during the savings.
You can choose three options:
Vital Plán insurance – is intended for anyone who wants to realize their plans (buy a house, reconstruct a piece of real estate, go on a foreign vacation, buy a car etc.) in the mid- or long-term timeframe.
Vital Junior insurance – is suitable for anyone who wants to ensure a quality education for their children or provide them with future security.
Vital Renta insurance – is suitable for all clients who wish to maintain their standard of living even after retirement.
I hear a lot about the pension reform and pension insurance. What does KB offer in this connection?
Demographic data is implacable – as longevity increases, so does the number of pensioners in proportion to the economically active part of the population. This leads to the situation where the state is not able to provide seniors with adequate income. Without personal savings, today’s 30- to 40-year-olds will have a hard time maintaining their standard of living.
Penzijní fond KB offers you the chance to save while utilizing tax benefits – each year you will be able to deduct CZK 12 000 from the tax base.
Furthermore, you will obtain a state contribution and your employer can also contribute a certain amount. All this transforms your pension insurance into a suitable savings instruments for minimum monthly deposits.
You can find more information on the Penzijní fond KB website.
What should I do if I have overpaid my premium for Vital life insurance?
In this case, you should write to Komerční pojišťovna with a request for a refund of the overpayment. Don’t forget to indicate the account number to which the overpayment should be returned in your letter.
Can I request change to the insurance contract over the telephone?
No. All changes in the agreement must be made in writing with the client's signature. We recommend that you visit any branch of Komerční banka, where we will fill in the application and all details together with you and then send it to Komerční pojišťovna.
Do you also offer life insurance for children?
Yes. Brouček investment life insurance is an advantageous combination of provision of finances for the child and insurance protection for the child and adult.
This insurance policy can be concluded for children from the day they are born until the age of 14. The relationship between the insurer and insured child is unimportant (so grandparents or other relatives can also take part). You can choose from two insurance options: protection and savings.
The insurance covers the risk of death or disability of the insured adult. You will thus protect your child from the financial consequences of an unfortunate turn of events in the life of the family. What is more, you will enjoy an attractive level of appreciation of the funds thanks to the investment portion of the insurance and possibility to choose a suitable investment strategy.
Do I have to arrange risk insurance for a mortgage?
No, you don’t. The decision to conclude an insurance policy to cover the risk of you inability to pay a mortgage loan is entirely up to you.
We do, however, recommend this insurance and offer our clients who do decided to purchase this insurance a better interest rate on their mortgage loan.
Risk life insurance serves mainly to protect the family from having to pay back the loan in difficult life situations. The insurance applies to the risk of death or permanent disability and covers the risk of inability to work or loss of employment.
The sum insured is determined by the amount of the loan granted, and over the course of coverage, decreases as the loan is gradually paid off. Should an insurance claim occur during the coverage period, the insurance company will either settle any outstanding amount of the loan with Komerční banka or pay the monthly mortgage instalments to the client.
Komerční banka branches
What are the opening hours of KB branches?
The opening hours of Komerční banka branches are usually Monday to Friday. Some branches are also open on Saturdays.
If you would like to know the opening hours of a particular branch, please contact our info-line 800 521 521.
This information can be also found in the Overview of KB Branches and ATMs. Choose a region on the map and enter the specific branch whose opening hours interest you.
Komerční banka shares
I am a KB shareholder. What do I need to do to receive payment of dividends?
When paying out dividends, Komerční banka always acts in accordance with its Articles of Association, which regulate payments of dividends from bank shares as outlined in its Section 6. For more details, see the Conditions and Methods for Payment of Dividends.
Dividends for natural persons can only be paid out using one of two methods:
- In cash at the majority of Komerční banka points of sale in the Czech Republic
- By means of cashless transfer to the bank account upon the shareholder or share manager providing his or her bank account number at any Komerční banka point of sale.
In the event of gross dividends exceeding CZK 1,000, your signature on the written notification of bank details must be officially certified or verified by an employee of Komerční banka.
If the shareholder is represented by a different person on the basis of a Power of Attorney, the signature on the Power of Attorney must also be officially certified.
We make dividend payments to shareholders – corporate entities – exclusively by means of cashless transfer from the Komerční banka account. In accordance with the Articles of Association, the shareholder or manager has to present the required documents and provide the bank account information.
Required documents are understood to mean:
- Request for payment of a dividend containing the pertinent bank details
- Officially certified current extract from the Commercial Register (or similar document on registration with the pertinent state authority)
- Officially verified signature of the shareholder's statutory body (or his representative) on the request for payment of a dividend
If a shareholder is represented by another corporate entity or natural person, this representative is also obliged to provide a certified power of attorney from all represented entities (with the exception of the securities administrator registered in the central register of dematerialised securities) and his or her officially certified current extract from the Commercial Register.
If the statement from the issue register only states data about the share administrator, the shareholder must provide a statement from his or her asset account. The bank shall not be held liable for the accuracy and up-to-date nature of data stated by the shareholder.
The request for payment of a dividend has to be addressed to the registered office of Komerční banka or submitted at any Komerční banka branch.
In the case of cashless payments, the bank's obligation to pay out a dividend is fulfilled on debiting of the dividend from the bank's account.
You can claim the right to payment of dividends for a period of 10 years from the date that the dividends being payable. After expiry of this period, this right is deemed forfeited, with the unpaid part of the dividends (not taken on by the shareholders) being transferred to the account for retained earnings from past years, for further decision by the General Meeting of the bank.
With change to the bank's Articles of Association at the General Meeting in 2003, it is no longer possible to send shareholders informational letters.
Further information regarding payment of dividends can be gained in Komerční banka, a. s., on telephone number 955 532 095 or at the e-mail address firstname.lastname@example.org.
I’m worried about the security of my data. Do you deal with phishing in any way?
Phishing (also called “rybaření” in Czech slang) is any fraudulent technique used in a computer network, above all on the internet, to gain personal and sensitive data (e.g. passwords, payment card numbers or a PIN for a payment card etc.) from the victim of the attack.
The principle of the attack is to gain confidential information about the victim and to elicit the required information, which is then misappropriated, leading to victim’s incurring financial losses.
The most frequent scenario for the attack is sending out of a large number of e-mails, which appear to be official requests from an authority, bank or similar institution.
These fraudulent messages usually ask the recipient to enter their personal or sensitive data into a form on a website, which the e-mail refers to. Fake websites are usually very similar in appearance to the original websites of the institutions whose identity is being faked.
Phishing e-mails or phishing websites are usually in English or full of bad Czech. You very often find phrases in them such as “miláček zákazník” (darling customer) and similar.
Komerční banka monitors attempts at phishing and takes the appropriate steps to minimise such risk.
Clients must follow the security recommendations of the bank, as stated on the KB direct banking website, especially point 9.
Tip: The latest web browsers (Internet Explorer, Mozilla Firefox, Safari and Opera etc.) are equipped with anti-phishing protection.
How do I recognise a real e-mail from Komerční banka from a fake one?
An e-mail sent by Komerční banka can only contain commercial or marketing communication and under no circumstances will it ask for disclosure of sensitive or personal information.
You can learn how to act if you receive untrustworthy e-mails on the KB direct banking website in point 9.
Tip: If you suspect something may not be in order, immediately contact the KB customer support line on 955 551 552 (+420 955 551 552 from abroad).
I received an e-mail signed by KB and it contains a link to a website where I am supposed to enter my account number and PIN. What should I do?
This is most likely an attempt at phishing.
Komerční banka does not send out any unsolicited e-mails with links to websites. If you receive any spam containing an Internet link to a Komerční banka website, do not respond to it and do not click on the link. Contact our KB client support line 955 551 552 (+420 955 551 552 from abroad) and provide us with more detailed information about the suspicious e-mail so that we can take the appropriate steps.
Tip: The latest solutions from leading anti-virus companies provide protection against phishing e-mails.