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Czech domestic transfers
wednesday, 21 August 2013

Providing the payment title expressed with the digital identifier VARIABLE SYMBOL (VS for short) is mandatory each time such a requirement is imposed by the creditor (e.g. contractor), especially public administration offices when paying taxes and advance payments for insurance.

Czech domestic transfers

Incorrect filling of the VARIABLE SYMBOL field or leaving it blank may result in non-recognition of the payment, incorrect posting of the payment and, consequently, charging of interest or other charges, both penal and fiscal and interest on trade receivables (at contractors).

We remind you that also in the case of settling obligations towards our office, a variable symbol should be provided each time the payment is sent under the Czech national interbank system. The VS number matches the invoice number.

Text fields in transfer orders, such as ADDRESS, AVIZO, ZPRÁVA PRO PŘÍIJEMCE, MESSSAGE FOR RECEIVER and the like, are not read by the automatic payment accounting systems of any of the offices and many business entities. So it can be assumed that they generally do not matter, but entering some of them (especially the recipient's name and advice note) may make it easier to read payments from bank statements.

In the case of payments sent from foreign banks to Czech (e.g. from Poland) it is possible to post payments with the field VARIABLE SYMBOL. To do this, enter"/ VS/nnnnnnnnnn" in the payment title (often referred to as Payment reference, Remittance information, Remittance data) (i.e. VS in a slash followed by ten digits, with no spaces). Entering the transfer title in this way will make it easier for the Czech recipient to automatically identify the incoming payment from abroad. The account number in IBAN format can be generated from the Czech account number using the official tool of the Czech National Bank: IBAN calculator .

When completing the transfer orders, it is worth paying attention to the second, important difference between the Polish and Czech banking systems. Contrary to the Polish system, which, even in domestic transactions, basically uses an account number in the IBAN format, the Czech banking system still relies on the national format of bank account numbers.

According to the national number format, the bank account number in Czech bank consists of three parts - a prefix, account number and bank code, each of a strictly defined length, is included in the following formula: 123456-1234567890/1234.

Account prefix consists of up to 6 digits, many banks do not use it at all or use fewer digits. If the contractor's account number does not contain a prefix or the prefix is ​​shorter, the missing digits - depending on electronic banking, are completed with zeros on the left or leave the field blank (e.g. 000123 -1234567890/1234). On paper transfer orders and postal forms, zeros are always filled in or the = sign is inserted in the blank field.

The correct account number (middle part) consists of up to ten digits. Similarly to the prefix, there may be shorter variants (e.g. in Bank Pocztowy or in public administration accounts), in which the missing places are filled with zeros on the left or left blank (e.g. 123- 0000123456 /1234).

The bank code (after the slash) always consists of four digits and, like the number proper, is always a mandatory field.

We recommend careful control of transfer orders.






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