How to open a bank account in Slovakia

Slovakia is a beautiful country with a thriving and competitive economy and a vibrant and rich cultural landscape. Because of these and many other reasons (try visiting the Tatra mountains) it is home of a small but active expat community.

If you are looking to live in Slovakia chances are that opening a bank account is in your list of things to do. Here is B2B Pay’s guide on how to open a bank account in Slovakia.

Documents to open a bank account in Slovakia

To open a bank account in Slovakia you will be required to present the following documentation at a minimum:

A passport
Optionally: ID with with an address
If you have a resident card, that is all you need
You may be required to present proof of address

Slovakia in particular have a lot of foreign banks and all of them have individual requirements hence the importance to contact the bank in question. Fortunately there are English speaking staff in all major banks (and english online banking too).

Can I open a bank account in Slovakia as a non-resident?

Yes, it is possible to open a bank account in Slovakia as a non-resident as the country's regulations do not prohibit the procedure. As with most countries, the process is fairly straight forward and as long as you provide all the necessary documentation you will have a bank account. For example you could be required at least a form of ID with your address in your home country and a resident permit.

Best banks in Slovakia

There are many banks in Slovakia most of which are internationally owned banks. This means you can expect service quality of a certain standard similar to the mother company. All the largest and most popular banks will offer similar products which will include service lines and online banking in English as well as English speaking staff.

VUB Banka: Large network, excellent online banking, English speaking staff and accounts for youths, students, seniors and workers. If you use your account enough your monthly fee is waived and there is also a rewards system for purchases. You get a debit card included and accounts in multiple currencies are also available.
Mbank: they have 100% free accounts, which if you are on a buget this could be the account for you. Their excellent online banking is comprehensive and in English. There are various accounts available for youths and students and businesses also have a 1% cashback option. See their branches here.
Slovenska Sportelna: With a fairly large presence and plenty of ATMs via its partners this could be a good option if it is convenient to you. Opening an account should be easy and it comes with a debit card which takes about 2 weeks to be delivered. There are free (to open) accounts available, fees as low as 6 euros per month and low interest rates if you are interested in loans. There is also a reward system for purchases.
Tatra banka: one of Slovakia's largest banks with a fairly large network of branches & ATMs, they have accounts for your needs as a student, worker and if you want accounts for your underage family members. Accounts have a rewards program, statements come via email, a savings account in included and optionally you get overdraft protection. Debit cards are contactless.

There are many banks as you see and account should be very easy to open. Beware of fees for outside of network ATMs. These can add thank thanks to exchange rates in which case you may want to consider a multi-currency account.

The virtual bank account alternative

Your international money transfers out of Slovakia cost too much

If transferring money from Slovakia to anywhere outside of Europe is something that you regularly do, you are likely to be using your bank. If you are, you are spending too much. This is because when banks transfer and convert money between each other, they always with a low rather called the mid market rate. However, to make a profit and to cover their costs, both the sending and the receiving banks have to charge above this base rate and this number goes too high. For example, if you transfer 10 thousand euros to India, you will receive only about 9 thousand euros worth of rupees bank home and that is not a good deal.

The virtual bank account with B2B Pay is a much better alternative. The same transfer to India will save you up to 900 euros and the money will get there faster. This is because our offer is a flat fee of 1% for most transfers to most markets. You also get your own european IBAN that you can receive and send money anytime, anywhere.

How to open a bank account in Europe

We have a few guides to guide you through the process of opening a bank account in multiple European countries and explaining why a virtual bank account with B2B Pay may be a better alternative if you are transferring money outside of Europe and taking advantage of a better rate.

How to open a bank account overseas

We have a few guides to guide you through the process of opening a bank account in multiple countries all over the world and explaining why a virtual bank account with B2B Pay may be a better alternative if you are transferring money outside of Europe and taking advantage of a better rate.