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Immediate Payout of Cheques Made out in a Foreign Currency

Immediate cashing of foreign cheques by Komerční banka.

The service is intended for:

  • corporate entities
  • natural persons
  • individuals
  • entrepreneurs
  • Czech nationals and foreigners

Characteristics of the service:

  • Komerční banka cashes certain cheques for its clients and other cheque holders immediately on presentation
  • the following criteria are decisive for cashing of the cheque:
    • the quality of the cheque
    • the KB terms and conditions for cashing foreign cheques
  • KB immediately cashes the following types of cheques for all parties who present them:
    • traveller's cheques
    • bank cheques issued by KB
    • bank cheques payable at KB
  • KB pays clients the following into their accounts:
    • bank cheques (subject to verification of the signature on the cheque)
    • money order type cheques
    • social welfare cheques
    • cheques presented by clients who have a contract on payment of foreign currency cheques presented for collection
  • the following condition applies for immediate cashing of the above-mentioned cheques:
    • when paid into a KB account, the value of the cheque must not exceed USD 20,000 or the equivalent in foreign currency
    • when paid out in cash, the value of the cheque must not exceed USD 10,000 or the equivalent in foreign currency
    • in the case of higher amounts, the bank offers the client acceptance of the cheque for redemption
    • in the case of bank cheques issued by KB and bank cheques payable in KB, these limiting conditions do not apply
  • non-bank entities and non-bank bureaux de change, which hold an account in KB, can conclude a contract on transfer of traveller's cheques with KB
  • conditions for cashing of cheques:
    • traveller's cheques, bank cheques and other cheques are cashed immediately for all existing KB clients and others who present cheques for payment after they prove legitimate ownership
    • on cashing of cheques, the owner must:
      • present a valid ID card
      • Czech citizens: personal ID card
      • foreigners: passport or residency permit

Advantages of Immediate Payout of Cheques Drawn Up in a Foreign Currency:

  • fast access to funds
  • no risk compared to transportation of funds in cash

The service allows you to:

  • cash a cheque immediately once all requirements are met

How to get the service?

  • contact your relationship manager
  • call the free KB Info line on 800 521 521

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