Citfin, spořitelní družstvo

Citfin, spořitelní družstvo is a Czech credit union supervised by the Czech National Bank that focuses on corporate clients, particularly companies handling foreign payments and currency exposure. It offers current and term deposit accounts in CZK and selected foreign currencies, supports domestic transfers and cross‑border payments via SEPA and SWIFT, and provides primarily online access; physical servicing is limited and card or cash services are minimal. Opening an account requires becoming a cooperative member and paying a membership contribution; under Czech deposit insurance rules, eligible deposits are insured by the Garanční systém finančního trhu up to the EUR 100,000 limit per member, while membership contributions are not covered. Pricing is set out in its fee schedule, with charges for domestic and international payments and FX spreads that vary by currency and volume. Foreign exchange execution and hedging services are offered within the Citfin group by a related company under its own license and terms. Standard KYC/AML procedures apply, onboarding is geared to Czech‑based businesses and exporters, and some sectors or non‑resident structures may be outside the target segment or require additional documentation. As a cooperative, members are subject to the statutes and regulatory limits applicable to Czech credit unions, including activity and concentration constraints, and the product set is centered on transactional accounts, deposits, and FX rather than a full retail banking suite.