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Foreign Currencies Expert

Foreign exchange services for corporate clients that trade with foreign countries.

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I need to purchase or sell foreign currency at a bargain

The situation that I need to solve

  • I import goods from abroad and sell them on the Czech market.
  • Several times a month, I pay my foreign suppliers’ invoices in different currencies.
  • I only have a CZK bank account, which I use to pay invoices by entering a foreign payment order.
  • When the CZK account’s funds are converted to a foreign currency, I lose a few tens of halers. Each payment comes out more expensive by hundreds of crowns.
  • I need to exchange under more favourable conditions, reduce the costs of payments from/to abroad and, in general, visibly save some money.



We have experienced several great years with Citfin’s favourable rates. Several years ago, I found out that with Citfin, we can save a few halers of each crown. And when it comes to larger amounts, the difference is more than evident. Moreover, Citfin analysts are available every day to discuss the current exchange rates and their anticipated future development over the phone.

Tomáš Brhel
Supervisory Board Member, Green-Swan Pharmaceuticals CR a.s.

What we can do for you

  • We will help you to achieve the most favourable rate for the purchase and sale of foreign exchanges. We trade online in the forex market.
  • There are no minimum exchange volume limits set for spot trading. With us, you will be able to exchange really low amounts.
  • We settle foreign exchange transactions quickly and also mediate foreign payments. The fees for outgoing foreign payments are low and incoming foreign payments are free of charge. Moreover, we will expedite your payments abroad.
  • Your existing CZK account is sufficient. There is no need to open new bank accounts, let alone foreign exchange accounts.

Foreign Exchange

Are you an entrepreneur or a company that trades with foreign countries, and needs to use foreign exchanges? There are no minimum limits in Citfin for the purchase and sale of foreign exchanges because we approach each client individually.

Online Foreign Exchanges

You can trade independently in eight major global currencies without having to make the transaction via telephone. Find the USD or EUR exchange online, quickly and easily.

Foreign Payments

Do you make payments abroad? Is your income in a foreign currency? We make foreign transactions quick, cheap and safe. We can also deal with exotic destinations.

Currency Order

Are you looking for the most favourable rate but have no time to monitor the development in the foreign exchange market? The Currency Order will keep an eye on the rate for you.

Are you looking for advice or answers to your questions? Let us know, we’re happy to help.

We are available to you on working days from 8:00 am to 5:30 pm.

 

Can I use a single account for all currencies

The situation that I need to solve

  • I have both foreign suppliers and foreign customers. I own several foreign exchange accounts. For example, I run an e-shop.
  • Each month, I receive a lot of large payments in foreign currencies, which are transferred to my CZK account, for instance, through payment gateways. The foreign exchange is, thus, converted automatically, and I cannot influence the exchange rate.
  • Alternatively, my customers’ foreign payments are transferred directly into foreign exchange accounts. Yet, I am worried about unfavourable exchange rates, high fees for incoming payments and the management of foreign exchange accounts.
  • I pay invoices to foreign customers and am forced to subsequently purchase foreign currency and make foreign payments. I do not want to lose money on exchange rates or fees.

Petr Čížek | BÖLLHOFF, s.r.o.

At first, we only made foreign payments and purchased foreign currencies in banks. Over time the bank charges became unacceptable for us and we felt like we were wasting money. Then we discovered the Citfin EASY multi-currency account and decided to try something new. This resulted in very surprising savings. After all, Citfin offers three EUR payments for free each month and each additional for only twenty crowns. Incoming EUR payments and all domestic payments are free of charge. This annually saves our company tens of thousands of crowns.

Petr Čížek
Managing Director, BÖLLHOFF, s.r.o.

Radek Maděra | CK Arcadia Air, s.r.o.

As a travel agency focusing on exotic holidays, we send and receive foreign payments in USD, ZAR, AUD and other currencies every day, so the Citfin multi-currency account is helpful in this respect. Everything is managed under one account number, which provides a great advantage and simplicity for our business partners and accountants.

Radek Maděra
Travel Agency Manager, CK Arcadia Air, s.r.o.

What we can do for you

  • We will enable you to use up to 27 currencies under one account number for free. The EASY corporate multi-currency account management is also free of charge.
  • We will always offer you the most favourable exchange rate. You can determine for yourself what, when and how much will be exchanged – either by calling our Dealing Department or online via the internet banking system.
  • We will help you to speed up and reduce the costs of foreign payments. Europayments we made only for 2 CZK, as well as domestic payments.
  • Incoming foreign payments from customers (as well as from payment gateways) are free of charge and can be easily redirected to an EASY corporate multi-currency account.
  • You will be able to interconnect the internet banking system with the company’s accounting system. This will make your company’s cash-flow management clearer.

EASY Corporate Multi-Currency Account

Are foreign exchanges an essential part of your business? Then an account which can hold up to 27 currencies could significantly simplify and reduce the costs of your financial transactions.

Foreign Payments

Do you make payments abroad? Is your income in a foreign currency? We make foreign transactions quick, cheap and safe. We can also deal with exotic destinations.

Online Foreign Exchanges

You can trade independently in eight major global currencies without having to make the transaction via telephone. Find the USD or EUR exchange online, quickly and easily.

Are you looking for advice or answers to your questions? Let us know, we’re happy to help.

We are available to you on working days from 8:00 am to 5:30 pm.

 

I want to hedge against adverse rate fluctuations

The situation that I need to solve

  • I don’t have to time to continuously monitor market rate fluctuations, but I want to exchange under the most favourable conditions.
  • The current exchange rate is not suitable for me and I can wait for a more favourable one. There is no urge to pay invoices.
  • The current market rate is not bad, but I would like to reach a more favourable one to meet my needs. On the other hand, I need to exchange as soon as the market rate becomes worse and develops contrary to my expectations.

Petr Čížek | BÖLLHOFF, s.r.o.

We also use Citfin forward transactions, which now, after the closure of CNB interventions, became a very important instrument. With forward transactions, we simply fix the rate for all known liabilities, which we will have to pay in a foreign currency in the future. You don’t have to worry about any loss from rate fluctuations. What I appreciate the most about Citfin hedging is its flexibility. I can make a forward transaction whenever I want. I don’t have to wait for it to be completed and can draw funds from it earlier, if necessary. Moreover, hedging by a forward transaction with Citfin is easy, and it can all be arranged over the phone. If I decide to use hedging today, Citfin will provide it tomorrow, which is extremely convenient. Their fast, professional and personal approach cannot be found in any bank.

Petr Čížek
Managing Director, BÖLLHOFF, s.r.o.

Radek Maděra | CK Arcadia Air, s.r.o.

In addition, if we need to fix the rate on the prices of our tours, we simply agree with our Citfin dealer, make a forward transaction and wait for the right moment to execute the foreign exchange transaction. I also appreciate and recommend Citfin thanks to their friendly and personal approach.

Radek Maděra
Travel Agency Manager, CK Arcadia Air, s.r.o.

What we can do for you

  • We will monitor exchange rates for you 24 hours a day, 5 days a week. You do not have to continuously monitor the forex market to achieve a profit or limit exchange rate risks.
  • All you have to do is to specify your binding rate requirement and select a Currency Order type. You will, therefore, give us the instruction to automatically purchase or sell currency at your required rate or the worst acceptable rate. Alternatively, you can set a combination of both, just to make sure. We will then monitor the rate for you, even for a year. As soon as your required rate is reached on the market, the exchange will be automatically performed.
  • You can cancel the existing Order that has not yet been executed.

Forwards

Do you purchase or sell foreign currency and want to avoid the negative consequences of rate fluctuations?

Fix the current rate for up to two years in advance.

Currency Order

Are you looking for the most favourable rate but have no time to monitor the development in the foreign exchange market? The Currency Order will keep an eye on the rate for you.

Are you looking for advice or answers to your questions? Let us know, we’re happy to help.

We are available to you on working days from 8:00 am to 5:30 pm.

 

I can wait for a better rate and exchange under more favourable conditions

The situation that I need to solve

  • I don’t have to time to continuously monitor market rate fluctuations, but I want to exchange under the most favourable conditions.
  • The current exchange rate is not suitable for me and I can wait for a more favourable one. There is no urge to pay invoices.
  • The current market rate is not bad, but I would like to reach a more favourable one to meet my needs. On the other hand, I need to exchange as soon as the market rate becomes worse and develops contrary to my expectations.

Helena Zumr Janů | HD COMMODITY s.r.o.

90% of our goods are sold to foreign clients. The development of the price of the goods depends entirely on the development of the exchange rate. If we want to arrange the best possible rate, we set a Currency Order at the required level and indicate the amount and period in which we want to execute and monitor the Order. If the rate goes in this direction, the system will exchange the required amount automatically, and then we needn’t worry about anything anymore.

Helena Zumr Janů
Managing Director, HD COMMODITY s.r.o.

What we can do for you

  • We will monitor exchange rates for you 24 hours a day, 5 days a week. You do not have to continuously monitor the forex market to achieve a profit or limit exchange rate risks.
  • All you have to do is to specify your binding rate requirement and select a Currency Order type. You will, therefore, give us the instruction to automatically purchase or sell currency at your required rate or the worst acceptable rate. Alternatively, you can set a combination of both, just to make sure. We will then monitor the rate for you, even for a year. As soon as your required rate is reached on the market, the exchange will be automatically performed.
  • You can cancel the existing Order that has not yet been executed.

Currency Order

Are you looking for the most favourable rate but have no time to monitor the development in the foreign exchange market? The Currency Order will keep an eye on the rate for you.

Forwards

Do you purchase or sell foreign currency and want to avoid the negative consequences of rate fluctuations?

Fix the current rate for up to two years in advance.

Are you looking for advice or answers to your questions? Let us know, we’re happy to help.

We are available to you on working days from 8:00 am to 5:30 pm.

 


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    Why trade with Citfin?

    We always find a solution

    We are the experts on foreign currencies. Any non-standard requirements? We can handle it.

    We are cool

    That’s what our clients say about us. We’re all ears and like to take an interest in our client’s affairs.

    We make no distinctions

    Even a small trader can experience the comfort of services for large corporations.