Paying fees harms you as well as your bank notes! Simply transfer your account to MONETA Money Bank and save.
Advice for Switching an Account for Entrepreneurs
We have several tips to ensure that switching your account to MONETA Money Bank goes smoothly
- Inform your family, business partners, and state institutions (e.g., the revenue authority, for a tax refund, etc.) about your new account number
- Inform any companies using direct debits from your account (mobile operators, etc.) about your new account number
- Don't forget about standing orders with a one-year payment period (e.g., insurance) and inform your personal banker about them. We recommend entering the payment dates of your standing orders, so that they would fall after the date on which payments start arriving in your account.
- Don't forget about one-time orders with a later payment date and inform your personal banker about them.
- Leave enough money in your account with the original bank to cover any pending standing orders and direct debits and any fees related to the cancellation of standing orders. The usual price for the cancellation of a payment order is about CZK 30. A pleasant fact is that, at MONETA Money Bank, you do not pay any fees for establishing new orders.
- Leave a balance of at least CZK 1,500 in your new MONETA Money Bank account. This provision will serve to cover any payments in the interim, before you start receiving income in your account.
- Only cancel the payment cards that go with your account at your original bank once you have your MONETA Money Bank payment card activated and when you start receiving payments in your new account, or when the money from your account with your original bank has been transferred to your new account with MONETA Money Bank. In the case of a premature cancellation of your original payment card, it will be rendered inoperable and you will lose access, through this payment card, to the funds in your account at the original bank.
- If you have a loan with your original bank, set up a standing order from your new MONETA Money Bank account to your original account, so that your loan continues to be regularly repaid.
- If you have also obtained the Express Business Loan when opening a new account at MONETA Money Bank, it is being repaid from your new account. One day before the payment day on that loan, you need to have enough money in your new account to cover that payment.
- If you are drawing on an overdraft facility with your original bank, you can request the Flexi Business overdraft facility when opening your account at MONETA Money Bank, and use the funds provided to pay up your obligations to your original bank.