When you transfer Czech korunas to your DEGIRO account, they are initially credited to your account in CZK. To start investing, the money needs to be converted to euros. However, we do not charge for conversions between EUR and CZK.
You can transfer the money via a domestic transfer from your CZK bank account to DEGIRO's CZK account in the Czech Republic - 4042500001/7910.
As soon as you receive the funds in CZK on your DEGIRO account, you can manually convert them by using the tool in the upper right corner on the platform (arrow pointing down - Převod měn). The manual conversion takes place immediately. If you do not convert the funds to EUR yourself, DEGIRO converts them on your behalf on the following day after your deposit.
NOTE: If an FX Sweep (currency conversion) has not yet taken place automatically but is expected to, attempts for manual conversion of CZK to EUR might lead to double conversion. In this case, it may be required to perform a conversion from EUR back to CZK in order to correct it. This can be done manually or via AutoFX the next day.
As mentioned, both AutoFX and manual conversion between CZK and EUR are free of charge. The standard fee for AutoFX between other currency pairs is 0.25% of the converted amount. The standard rate for a manual conversion between a different currency pair is 10 EUR + 0.25%.
Please be aware that currency conversion takes place in the CNX currency exchange, and a connectivity fee might be charged in case of currency conversion.