How does it work

Sending money abroad and within the Czech Republic

• Our company offers foreign currency payments to the whole world (except for countries excluded by Czech and European Union legislation). Especially favorable conditions are guaranteed especially for payments in the Eurozone, payments to Asia, and payments to the USA. 
• Trades can also be made between your own accounts with Czech or foreign banks, or the converted currency may be sent by our company to a selected third party account (for example, directly to the account of your business partner).
• Our services can be used by companies and private individuals or associations.
• The terms and conditions of transfers of funds are determined by the General Agreement between the Company and the Client. You can apply for a Framework Agreement online at our website. Delivery of physical copies of contracts can be made by post without the need to personally visit a company branch.
• The execution of orders is most often carried out automatically online via a web portal, which you can access after the conclusion of the framework contract.

What currencies we trade, our bank partners

• We trade Czech crowns CZK, euros EUR, US Dollars USD and British Pounds GBP, including all combinations of these currencies.
• The client can use any bank worldwide (except for these countries) to make payments. Easychange has accounts with several Czech banks - FIO banks, Raiffeisenbank, Creditas, euro accounts with foreign banks and a pound account in England. If the client has accounts with these banks, trades are settled faster.
• Trades can also be settled across multiple banks. For example, it is quite common for a client to convert one currency within domestic banks and we will settle the transaction in another currency within banks directly abroad. It is not necessary to conduct transactions within the same bank.
• Easychange does not open new bank accounts for clients. You use your existing bank accounts to do business.

One-time and regular shops

• For single or occasional exchanges of EUR, small and large amounts, use www.Europlatba.cz - it can be used immediately. The exchange rate is set according to the amount filled in.
• For regular trades, please proceed straight to filling out the contract online.

How shops run

Standard process of making payments - foreign and domestic - for our contractual clients:

1. The client enters a conversion order directly on the site in the. Client zone with all necessary data. There is no need to call brokers, everything can be handled from a computer or smartphone.

2. The client is informed by e-mail about the acceptance of the order by the companies. At the same time, the client is asked to send funds to the company's collection account and receives an e-mail confirmation of the transaction (accounting document of the agreed transaction) with a recapitulation of all details (exchange rate, currencies, amounts, accounts, etc.).

3. The client sends funds to the company's collection account by bank transfer.
- Once the client's payment has been registered and the amount and variable symbol are correct, the client will receive an automatic email that the funds have been credited.

4. Then Easychange sends the converted currency to the target account. The target account can be either a client account or a third party (supplier, etc.) account.
- If the client's funds are credited to the EasyChange collection account at least one hour before the end of the business hours, they are still sent within the settlement day in the settlement cycle, which runs until the end of the business hours. In case of later crediting, the funds will be sent by us the next working day. Note, however, that some domestic banks only have a limit time for foreign currency transfers until 14:59.
- After sending the payment to the target account, the client will always receive a proof of settlement of the entire transaction by e-mail.

Currency Rates

• The attractiveness of a company rate is usually indicated by a spread. Spread is the difference between buying and selling. For example, if a bank buys EUR for 25 CZK and sells EUR for 26 CZK, then the spread value is 1 CZK.
• This spread then constitutes the profit of financial institutions from monetary operations. Companies with a lower spread tend to be more attractive to clients as they offer them a better rate.
• EasyChange publishes and guarantees a very advantageous spread. And completely transparent, ie without additional fees, VIP cards, etc.
• EasyChange rates change automatically every minute depending on the market. In addition, EasyChange adheres to the rule that its prices reflect the market rate equally on both sides. I.e. similar conditions apply to both buying and selling currency, no direction is favored.
• For contractual transactions, the exchange rate is binding at the moment the trade is concluded (not at the moment when the funds are credited to the collection account).

Fees

• Use of our service is free of charge.
• Transactions within banks where our company has accounts are free of charge.
  Euro transactions within the euro area and EEA countries are also free of charge (except for non-SEPA banks).
  In other cases the fees of used banks for transfer can be transferred to the client. See the Price List for more details.
• If, due to the banks or currency used, the bank's fee is transferred to the client, when placing an order in the web application, the fee is always displayed in advance before the transaction is confirmed. Our service does not include hidden charges.
• All fees are determined by the Price List.