ANALYTICAL PLATFORM

To understand the results of your portfolio, we provide instructions on how to read the most used IBKR report, the Realized Summary Report. We will present the basic and at the same time the first table, Net Asset Value.

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We use the Interactive Brokers (IBKR) platform for trading. One of the first steps involved in creating an account is choosing the right type of account.

You can choose from a cash account (cash) [1]and a margin account [2]. Margin means that you borrow cash from the broker (IBKR), for which you then execute trades. You won’t even realize this at first glance, but the principles of account operation are based on it. So let’s look at the basic differences that exist between these accounts.

If you have the account maintained in Czech crowns, the first difference is that to purchase American shares (which is only possible in USD), you do not need a primary exchange for dollars in the margin account. In practice, this works by automatically borrowing dollars for which shares are subsequently bought or sold. At the end of the trade, you will receive a payment in dollars, which will be automatically converted back into your primary currency (CZK). Profits are held in dollars on the margin account. For a cash account, you must first “manually” change the crowns to dollars.

Shorting is not possible with a cash account, so you can only speculate on an increase in the value of shares. At the same time, the cash account does not allow you to use leverage, ie buy / sell shares for more cash than you have.

The advantage of a cash account is that you do not have to have a minimum balance, for a margin account it is necessary to have at least USD 2,000 [3] or the equivalent value converted into dollars. To open a cash account, you need to have less experience and lower income, compared to a margin account.

Therefore, if you plan to buy shares purely for long-term speculation on their growth, without using leverage, a cash account is sufficient for you. Short-selling is also possible on other platforms, such as eToro.

If you plan to use our strategies, we recommend opening a margin account, which is generally more professional, slightly more complex, also has higher requirements for opening [4], but is suitable for daily trading and allows the use of leverage.

Is something unclear to you or do we have an error in the information? Do not hesitate to contact us at software@ccfr.cz.

 

 

[1] www.interactivebrokers.co.uk/en/index.php?f=1588&p=acctypes3

[2] www.interactivebrokers.com/en/index.php?f=24862

[3] www.interactivebrokers.eu/en/index.php?f=1597&p=balance

[4] www.interactivebrokers.com/en/index.php?f=4945&p=tradingrequirements

In April, our system, based on a portfolio of 20 relatively most undervalued stocks from the S&P 100 index in the Long position and 20 relatively most overvalued stocks in the Short position, achieved a – 1.09 % loss. It is for the first time this year our strategy results has dropped below 3.5 %.

The performance of the system is 38.45 % at an annual recalculation. Detailed results can be viewed here.

On Monday, May 3, we brought a report with a calculated list of stocks for the May prediction.
We excluded (assigned them a score value of 0.) MSFT, AMZN and IBM stocks from the current report, because the model tends to underestimate them (short) due to the proven “size effect”, when in the long run the shares of smaller companies tend to bring generally higher profits than large ones.  In the following versions, this problem will be eliminated in the model. The shares of AAPL, GOOG and GOOGL should also be excluded, but they reached the middle values ​​and therefore we left them in the original positions in the report.

Below we provide information on the condition of individual economic factors that influence the performance of the analyzed stocks.

05/2021 Predictors

ID
Ticker
Company
Score
Constant
Autocorrelation 5
Momentum 252 - 22
USD Volume Relative Change 22 vs 44
CCI 4
SUV Resid 252
SUV Coef 126
SUV Coef 104 Weeks
AR LogPrice 52 Weeks
DividendPerShare DPS
EarningsPerShare EPS
MarketCapitalization MV
OperatingCashFlow OperatingCF
SalesPerShare SPS
PriceBookValueRatio PTBV Change 126 Days
PriceCashFlowRatio PCF Change 126 Days
PriceEarningsRatio PE Position 66 Days
PriceBookValueRatio PTBV Position 252 Days
Score_2
1AAPLApple Inc-0,0340,0000,0020,0240,0000,053-0,0060,0040,0030,0070,015-0,001-0,1660,0190,000-0,0020,0010,017-0,005-0,034
2ABBVAbbvie Inc-0,0830,000-0,025-0,0070,016-0,0040,010-0,0170,0040,001-0,026-0,0010,0030,0020,000-0,0010,001-0,014-0,025-0,083
3ABTAbbott Laboratories0,0180,0000,004-0,011-0,0080,029-0,001-0,006-0,009-0,0080,006-0,0010,002-0,0010,0000,0010,0030,0170,0010,018
4ACNAccenture Plc0,0200,000-0,0100,0120,0240,028-0,0010,011-0,0070,010-0,0100,0000,003-0,0010,000-0,0010,001-0,012-0,0270,020
5ADBEAdobe Systems Inc0,0710,0000,002-0,0110,0140,064-0,0100,0080,004-0,0100,0230,001-0,001-0,0020,0000,0000,005-0,005-0,0090,071
6AGNAllergan Plc0,0320,0000,0000,0000,0000,0000,0000,0000,0000,000-0,005-0,0010,014-0,0010,0000,0020,0000,0010,0230,032
7AIGAmerican International Group0,0300,000-0,0240,0490,0030,003-0,0120,0110,0140,0180,011-0,0010,016-0,0030,0000,001-0,0300,001-0,0270,030
8ALLAllstate Corp-0,0670,000-0,027-0,0290,018-0,011-0,009-0,0070,0070,012-0,0070,0020,016-0,0020,0000,0010,002-0,005-0,028-0,067
9AMGNAmgen Inc-0,1250,0000,004-0,044-0,0230,0070,0020,013-0,019-0,079-0,0430,0010,0080,0000,0000,0010,002-0,0020,046-0,125
10AMZNAmazon.com Inc-0,1390,000-0,001-0,021-0,016-0,0100,0280,005-0,010-0,0160,0230,006-0,1280,0150,0000,0000,0050,003-0,023-0,139
11AXPAmerican Express Company-0,0030,000-0,0040,019-0,014-0,007-0,008-0,0090,0030,0170,0070,0000,009-0,0020,0000,000-0,0010,016-0,028-0,003
12BABoeing Company0,2920,0000,0000,0370,0020,022-0,0070,0130,031-0,0020,023-0,0010,008-0,0090,0000,0030,0790,0010,0920,292
13BACBank of America Corp-0,0010,000-0,0200,0260,022-0,007-0,013-0,005-0,0020,0230,016-0,001-0,0100,0070,0000,0010,000-0,012-0,026-0,001
14BIIBBiogen Inc-0,0650,000-0,004-0,066-0,004-0,007-0,006-0,0020,010-0,1010,0230,0020,016-0,0020,0000,0010,001-0,0130,087-0,065
15BKBank of New York Mellon Corp-0,0160,000-0,003-0,012-0,017-0,0130,0100,0190,0090,0040,011-0,0010,016-0,0020,0000,0010,001-0,013-0,027-0,016
16BKNGBooking Holdings Inc0,0380,0000,0110,0170,0340,014-0,0050,0060,0050,0030,023-0,0010,011-0,0030,000-0,003-0,035-0,013-0,0250,038
17BLKBlackrock-0,0910,000-0,0240,0120,0160,009-0,0030,0030,0270,017-0,1320,0050,009-0,0020,0000,001-0,0020,000-0,027-0,091
18BMYBristol-Myers Squibb Company-0,0010,0000,002-0,045-0,0110,0460,0090,0020,019-0,0740,005-0,0010,0080,0010,0000,0010,0070,0010,028-0,001
19BRK.BBerkshire Hathaway Cl B-0,0470,000-0,027-0,0040,009-0,002-0,0040,003-0,0150,0240,0230,002-0,0110,008-0,0140,0010,002-0,013-0,027-0,047
20CCitigroup Inc0,0680,000-0,0010,0160,0020,031-0,0080,0010,0050,0140,0040,0000,007-0,0090,0000,0010,0010,016-0,0110,068
21CATCaterpillar Inc0,0480,000-0,0180,058-0,0040,0250,011-0,0120,0110,024-0,0160,0000,009-0,0020,0000,000-0,002-0,012-0,0240,048
22CHTRCharter Communicatio-0,0170,0000,008-0,0160,008-0,0430,0120,006-0,004-0,0060,0230,0010,0090,0010,0000,0010,0020,005-0,025-0,017
23CLColgate-Palmolive Company-0,0200,0000,041-0,0330,004-0,0380,021-0,015-0,015-0,0070,006-0,0010,014-0,0020,000-0,0010,003-0,0110,016-0,020
24CMCSAComcast Corp A-0,0160,000-0,0100,0080,005-0,0350,008-0,0080,0100,0160,014-0,001-0,0020,0040,0000,0010,001-0,007-0,019-0,016
25COFCapital One Financial Corp0,0910,000-0,0010,056-0,013-0,0220,0060,0170,0110,0250,0080,0010,0140,0010,0000,0010,0010,017-0,0310,091
26COPConocophillips0,1030,0000,024-0,0110,0080,020-0,0050,0210,014-0,0010,007-0,0010,014-0,0020,0000,001-0,0010,0010,0130,103
27COSTCostco Wholesale-0,0580,000-0,008-0,0270,013-0,019-0,004-0,001-0,0060,002-0,0070,0000,006-0,0010,0000,0010,003-0,0130,002-0,058
28CSCOCisco Systems Inc0,0040,000-0,016-0,0190,0090,032-0,004-0,0010,0060,0060,009-0,0010,0010,0010,0000,0000,000-0,008-0,0130,004
29CVSCVS Corp-0,0790,0000,023-0,0180,003-0,0280,002-0,0370,000-0,0020,0040,0000,0110,0010,0000,0010,002-0,014-0,027-0,079
30CVXChevron Corp-0,0010,0000,011-0,023-0,0010,0190,0040,0170,003-0,004-0,027-0,0010,0030,0000,0000,001-0,0030,001-0,001-0,001
31DDDu Pont De.Nemours Inc0,0870,000-0,0190,0290,0050,013-0,0060,0040,0240,0070,012-0,0010,016-0,0020,0000,001-0,0030,0010,0050,087
32DHRDanaher Corp0,1470,0000,023-0,0050,0070,059-0,006-0,0030,0410,0080,0150,0000,004-0,0020,0000,0010,0100,017-0,0220,147
33DISWalt Disney Company-0,0250,000-0,0080,0310,009-0,035-0,003-0,005-0,0150,0190,023-0,001-0,009-0,0010,0000,001-0,0250,001-0,006-0,025
34DOWDow Inc0,0700,0000,0050,044-0,0230,022-0,0010,0040,0000,011-0,003-0,0010,016-0,0020,0000,0010,0010,010-0,0140,070
35DUKDuke Energy Corp-0,0450,0000,041-0,0280,008-0,044-0,0100,0230,000-0,002-0,013-0,0010,013-0,0010,0000,0010,002-0,013-0,023-0,045
36EMREmerson Electric Company0,1170,000-0,0050,0240,0210,069-0,0060,0140,0000,0120,004-0,0010,015-0,0030,0000,0000,000-0,006-0,0220,117
37EXCExelon Corp-0,0070,0000,031-0,0230,007-0,0280,0000,0150,003-0,0090,009-0,0010,016-0,0020,0000,0010,002-0,011-0,017-0,007
38FFord Motor Company0,1700,000-0,0050,087-0,0200,0260,0040,0060,0080,0190,023-0,0010,0160,0030,0000,0010,0000,0010,0030,170
39FBFacebook Inc-0,1150,000-0,010-0,001-0,015-0,0270,007-0,009-0,017-0,0130,0230,001-0,0460,0070,0000,0010,0040,006-0,025-0,115
40FDXFedex Corp0,0590,000-0,0220,076-0,0120,000-0,007-0,0030,0070,020-0,0010,0010,013-0,0020,0000,0010,0020,007-0,0220,059
41GDGeneral Dynamics Corp-0,0680,000-0,0110,001-0,004-0,0330,0030,0070,0060,013-0,0220,0010,015-0,0020,0000,001-0,001-0,013-0,030-0,068
42GEGeneral Electric Company0,1020,000-0,0070,052-0,0130,026-0,0080,0080,0170,0270,023-0,0010,010-0,0020,0000,001-0,012-0,005-0,0120,102
43GILDGilead Sciences Inc0,0310,000-0,023-0,088-0,0040,0240,0120,0110,0110,005-0,004-0,0010,013-0,0010,0000,0010,002-0,0120,0840,031
44GMGeneral Motors Company0,2310,0000,0090,0980,0200,019-0,0020,0080,0170,0220,023-0,0010,0130,0010,0000,0010,0010,013-0,0120,231
45GOOGAlphabet Cl C-0,0080,0000,0010,012-0,008-0,0200,0070,006-0,0160,0180,0230,012-0,0460,0150,0000,000-0,0010,017-0,028-0,008
46GOOGLAlphabet Cl A0,0000,0000,0000,011-0,013-0,0040,0050,001-0,0200,0170,0230,012-0,0400,0150,0000,0000,0000,017-0,0250,000
47GSGoldman Sachs Group0,0410,000-0,0050,0430,0220,004-0,010-0,002-0,0040,022-0,0240,0060,009-0,0070,0000,0010,0010,014-0,0290,041
48HDHome Depot-0,1270,000-0,0070,0010,011-0,019-0,005-0,011-0,005-0,001-0,0390,001-0,0100,0020,000-0,0100,002-0,012-0,025-0,127
49HONHoneywell International Inc-0,0150,000-0,0090,017-0,0030,005-0,005-0,0020,0040,019-0,0120,0000,006-0,0020,0000,000-0,005-0,012-0,018-0,015
50IBMInternational Business Machines-0,1440,0000,004-0,035-0,0310,0280,008-0,0330,001-0,025-0,0380,0000,0090,0020,0000,0010,000-0,013-0,021-0,144
51INTCIntel Corp0,0240,000-0,002-0,041-0,0040,012-0,002-0,0020,010-0,0020,010-0,0010,0000,0070,0000,0010,002-0,0040,0410,024
52JNJJohnson & Johnson-0,1420,000-0,010-0,0360,0030,0080,005-0,029-0,030-0,034-0,0170,000-0,0170,0030,0000,0010,0010,0020,006-0,142
53JPMJP Morgan Chase & Company-0,0550,000-0,0120,0250,017-0,012-0,008-0,006-0,0010,024-0,0110,000-0,020-0,0200,0000,0010,001-0,010-0,022-0,055
54KHCKraft Heinz Company-0,0660,000-0,007-0,003-0,002-0,0250,006-0,007-0,0140,0030,008-0,0010,015-0,0020,0000,0010,001-0,014-0,026-0,066
55KMIKinder Morgan0,0220,0000,011-0,029-0,0200,0010,0010,0060,0070,0090,013-0,0010,016-0,0020,0000,0010,0010,017-0,0100,022
56KOCoca-Cola Company-0,0800,0000,009-0,0260,000-0,010-0,0020,003-0,016-0,0120,007-0,0010,000-0,0010,0000,0010,000-0,012-0,019-0,080
57LLYEli Lilly and Company0,0220,0000,027-0,023-0,008-0,0090,000-0,0040,0030,004-0,0090,0000,005-0,0020,000-0,0040,0000,0130,0270,022
58LMTLockheed Martin Corp-0,1640,0000,003-0,058-0,001-0,031-0,0060,016-0,006-0,045-0,0740,0030,011-0,0010,0000,0010,003-0,0070,028-0,164
59LOWLowes Companies0,0310,000-0,0300,0410,0000,024-0,0030,0030,0070,0050,0010,0000,0080,0000,000-0,0100,004-0,007-0,0120,031
60MAMastercard Inc-0,0160,0000,019-0,012-0,0050,044-0,003-0,002-0,006-0,0060,0070,000-0,012-0,0010,000-0,008-0,005-0,010-0,014-0,016
61MCDMcDonalds Corp0,0080,000-0,027-0,0220,009-0,028-0,004-0,005-0,0270,001-0,0250,0000,005-0,0020,0000,003-0,0010,0020,1300,008
62MDLZMondelez Intl Inc-0,0590,0000,005-0,030-0,015-0,0150,0130,002-0,008-0,0100,011-0,0010,012-0,0020,0000,0010,0010,007-0,031-0,059
63MDTMedtronic Inc-0,0450,0000,017-0,0200,010-0,0010,002-0,007-0,0110,0040,001-0,0010,005-0,0010,0000,001-0,001-0,013-0,028-0,045
64METMetlife Inc0,0580,000-0,0030,0370,0020,008-0,0080,0100,0060,0230,0050,0000,0150,0000,0000,0010,001-0,013-0,0260,058
65MMM3M Company-0,0870,0000,016-0,010-0,015-0,005-0,003-0,022-0,0190,006-0,0320,0000,010-0,0010,0000,0000,0020,004-0,019-0,087
66MOAltria Group-0,0680,000-0,0090,000-0,040-0,0520,0010,000-0,0060,010-0,009-0,0010,012-0,0010,000-0,0030,0010,0150,013-0,068
67MRKMerck & Company0,0000,000-0,015-0,055-0,0100,0270,0150,021-0,007-0,076-0,001-0,0010,004-0,0010,0000,0020,002-0,0090,1040,000
68MSMorgan Stanley0,0820,000-0,0040,0590,0100,000-0,0060,0030,0000,0190,0100,0000,0060,0000,0000,0010,0010,009-0,0260,082
69MSFTMicrosoft Corp-0,1190,0000,004-0,012-0,0010,0220,0040,005-0,011-0,0050,0020,000-0,1410,0140,000-0,0010,0000,014-0,013-0,119
70NEENextera Energy0,0580,0000,035-0,0120,004-0,0150,0030,010-0,0240,0060,009-0,0010,007-0,0010,0000,0010,0030,0160,0170,058
71NFLXNetflix Inc-0,1750,000-0,001-0,023-0,049-0,060-0,0020,0000,007-0,0430,0230,0000,000-0,0030,0000,001-0,0780,0160,037-0,175
72NKENike Inc0,0040,000-0,0230,013-0,003-0,0130,001-0,013-0,0060,0130,013-0,0010,005-0,0030,0000,0000,0000,0130,0070,004
73NVDANvidia Corp0,1350,000-0,0030,0350,0320,051-0,0130,0080,0180,0050,0170,000-0,012-0,0020,000-0,0010,012-0,002-0,0110,135
74ORCLOracle Corp-0,0370,000-0,030-0,0080,011-0,025-0,005-0,0100,0040,0200,011-0,0010,0010,0000,000-0,0020,0000,006-0,011-0,037
75OXYOccidental Petroleum Corp0,1690,0000,0130,0240,0130,014-0,0080,0220,0270,0150,023-0,0010,018-0,0020,0000,0000,0010,0010,0110,169
76PEPPepsico Inc-0,1130,0000,012-0,0380,003-0,0190,003-0,009-0,019-0,040-0,0150,0000,0030,0000,0000,0010,0020,0040,001-0,113
77PFEPfizer Inc-0,1290,000-0,031-0,0500,004-0,0060,001-0,032-0,010-0,0350,008-0,0010,0010,0010,0000,0010,001-0,0020,021-0,129
78PGProcter & Gamble Company-0,0420,0000,023-0,0300,001-0,0310,0080,002-0,0190,000-0,0100,000-0,0080,0010,0000,0020,003-0,0060,023-0,042
79PMPhilip Morris International Inc0,1030,000-0,018-0,017-0,007-0,0260,0030,0290,0030,017-0,0220,0000,007-0,0010,0000,0040,0010,0000,1290,103
80PYPLPaypal Holdings0,1610,0000,0020,0490,0170,052-0,0080,0160,0000,0030,023-0,001-0,006-0,0020,000-0,0010,0020,0080,0060,161
81QCOMQualcomm Inc0,0500,000-0,0200,028-0,0040,004-0,0030,0010,0000,012-0,0020,0000,006-0,0020,000-0,0010,0030,0110,0160,050
82RTNRaytheon Company0,0550,0000,0000,0000,0000,0000,0000,0000,0000,000-0,0120,0010,017-0,0020,0000,0020,0000,0010,0490,055
83SBUXStarbucks Corp0,0920,000-0,0190,006-0,014-0,0020,002-0,016-0,0190,0160,006-0,0010,008-0,0030,0000,004-0,0040,0130,1160,092
84SLBSchlumberger N.V.0,0920,000-0,0030,025-0,0080,003-0,0040,0230,0190,0080,018-0,0010,016-0,0030,0000,001-0,0010,001-0,0020,092
85SOSouthern Company-0,0920,0000,039-0,035-0,007-0,0480,008-0,008-0,0130,002-0,002-0,0010,014-0,0020,0000,0010,003-0,014-0,031-0,092
86SPGSimon Property Group0,0720,0000,0320,0400,0050,012-0,0070,0130,0190,016-0,026-0,0010,016-0,0030,000-0,003-0,002-0,013-0,0270,072
87TAT&T Inc-0,1430,0000,031-0,045-0,009-0,030-0,004-0,0440,007-0,0790,004-0,0010,0010,0090,0000,0010,0020,0010,013-0,143
88TGTTarget Corp-0,0050,0000,0020,0430,018-0,032-0,002-0,010-0,0170,016-0,0020,0000,0110,0000,0000,0000,002-0,003-0,029-0,005
89TMOThermo Fisher Scientific Inc0,0870,000-0,006-0,0070,0020,0250,0110,0030,003-0,0010,0130,0010,004-0,0010,0000,0020,0080,0130,0150,087
90TXNTexas Instruments0,0500,000-0,0180,024-0,0060,0290,0050,0000,0000,014-0,0150,0000,005-0,0020,000-0,0010,0000,016-0,0010,050
91UNHUnitedhealth Group Inc-0,0610,0000,005-0,0140,016-0,014-0,0070,0070,013-0,008-0,0240,002-0,0120,0030,0000,0010,002-0,002-0,027-0,061
92UNPUnion Pacific Corp0,0230,0000,0390,000-0,0180,0370,006-0,0020,0000,001-0,0130,0000,007-0,0010,0000,0000,000-0,010-0,0220,023
93UPSUnited Parcel Service-0,0570,000-0,0130,041-0,045-0,0100,0170,002-0,0050,021-0,0150,0000,0070,0000,000-0,0400,0010,015-0,031-0,057
94USBU.S. Bancorp0,0450,000-0,0050,0190,002-0,006-0,0030,0160,0000,0240,007-0,0010,012-0,0020,0000,0010,0000,007-0,0280,045
95UTXUnited Technologies Corp0,0580,0000,0000,0000,0000,0000,0000,0000,0000,000-0,0040,0000,012-0,0020,0000,0020,0000,0010,0490,058
96VVisa Inc-0,1070,0000,002-0,0270,001-0,0010,001-0,007-0,017-0,0140,011-0,001-0,0140,0000,000-0,001-0,005-0,014-0,022-0,107
97VZVerizon Communications Inc-0,0960,0000,037-0,047-0,003-0,037-0,001-0,041-0,024-0,0460,000-0,001-0,0010,0080,0000,0020,0020,0100,045-0,096
98WBAWalgreens Boots Alliance0,0380,0000,038-0,0160,026-0,0420,009-0,0010,0030,0100,006-0,0010,016-0,0020,0000,001-0,0030,001-0,0060,038
99WFCWells Fargo & Company0,0400,000-0,015-0,0020,0050,011-0,009-0,0030,0100,0280,019-0,0010,004-0,0030,0000,0010,0010,016-0,0230,040
100WMTWal-Mart Stores-0,0850,0000,001-0,0350,016-0,030-0,001-0,029-0,003-0,0200,002-0,001-0,0140,0070,0000,0020,003-0,0110,028-0,085
101XOMExxon Mobil Corp0,0180,0000,014-0,0110,0050,0100,0000,012-0,0010,019-0,010-0,001-0,0010,0010,0000,001-0,003-0,014-0,0060,018

Dr. Chalupová is engaged in financial technology research at the Department of Informatics, Faculty of Business and Economics, Mendel University in Brno. CCF RESEARCH and MENDELU have been successfully cooperating on joint projects for a long time, Naďa is a key part of them.

  +420 605 828 737
  nadezda.chalupova@mendelu.cz
 Naděžda Chalupová

Projects

Financial research software

Take a look at the report of our results in 1Q/ 2021. Below you can see a graphical view compared to the S&P 500 index.

Stock_Picker_CCFR_Performance

In March, our system, based on a portfolio of 20 relatively most undervalued stocks from the S&P 100 index in the Long position and 20 relatively most overvalued stocks in the Short position, achieved a 4.0 % yield.

The performance of the system is 42.56 % at an annual recalculation. Detailed results can be viewed here.

On Monday, April 5, we will bring a report with a calculated list of stocks for the following month. You can view the report in our AnalyticalPlatform.com application, or in the application of the partner company StockPicker.eu.

The Momentum Formula II system did not trade in 1Q/2021 due to a persistent error by Interative Brokers in placing stoplosses.

If you use the Interactive Brokers for trading, beware of a change in the bank through which money transfers are processed.

Previously, IBKR used the Czech branch of HSBC Continental Europe to receive money from Czech users.
IBKR now uses the German branch of J.P.MORGAN AG. The bank processes payments in Czech crowns, however, the transfer of funds between states may be charged at banks. For example, at Raiffeisenbank a.s. the transfer is charged at a rate of 1% of the transaction volume, with a minimum of CZK 300 and a maximum of CZK 1,500. Only transfers between euro accounts are free of charge at RB.

Before transferring money, we strongly recommend verifying the situation with your bank.