Slovakia
Banking in Slovakia
Slovakia Business Experts
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Starting a new business in India
I run a UK business and my fellow Director is an Indian National (I am a British citizen).We now want to launch our company in India and I am struggling to make any progress with the Indian High Commission. Can anyone help me with the process. I have twice visited the commission in London and wasted hours of time due to their complete lack of organisation.I will appreciate any help to make
Total Posts: 12 Last post by leahhart65
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Hiring Struggles for Small Businesses in NZ, Are We Overlooking Soft Skills?
Hi everyone,I’ve noticed that many small businesses in NZ are facing real challenges when it comes to hiring the right people not just in terms of technical ability, but soft skills too. Communication, adaptability, and problem-solving often seem harder to find than certifications or experience.A few small business owners I’ve talked to said they struggle to read between the lines of a sta
Total Posts: 1 Last post by ngaiomarsh98
Banking in Slovakia
The Slovak financial sector has been growing rapidly following the bank restructuring and privatization program of the early 2000s. Commercial banks are by far the dominant financial institutions, though non-bank financial institutions have grown faster than the banks in recent years, and the securities markets remain small.
National Bank of Slovakia is the central Bank of Slovakia, which is member of European Union and European system of Central Banks. Slovenska sporitelna, with 2.3 million clients, is the biggest commercial bank in the Slovak Republic and it is a member of the strong central European finance group Erste Bank.
There are many banks offering services such as current accounts and sub-accounts, domestic and foreign payments, electronic banking, debit and credit cards, cheques and even insurance. The main commercial banks are:
- Slovensk Sporitel'a, member of Erste Bank
- Vseobecn verov Banka (VB)
- Tatra Banka, member of Raiffeisen Zentralbank
It's better to open a bank account in person than by correspondence from abroad. Before choosing a bank, you should compare the fees charged for international money transfers and other services. You must be over 18 years old and provide proof of identity, e.g. a passport, your local address and papers to show the funds you have imported and the method used. Fees can vary depending on whether your current account will be in Slovak Koruna (Sk) or in foreign currency. Additionally, the fee for opening the account could be zero but the bank could set a minimum account balance of up to 500 Sk (15 Euros). If you have a current account in SKK, a debit card is usually issued within a service package.
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