Raiffeisen Bank 

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Infoline: 800 900 900

Special tied account

A special tied account is for depositing (blocking) financial resources for the creation of financial reserves under the conditions of the appropriate law. The client is then entitled to dispose of the financial resources in the account only with the written consent of the appropriate public authority.

 

Advantages

  • stipulation of individual price and interest conditions depending on the specific nature of the transaction
  • a tied account can be opened in CZK and a foreign currency
  • resources may be transferred to and from the tied account in cash or by bank transfer
  • the client can choose how often to be sent statements

     

What we offer you

A special tied account is for depositing (blocking) financial resources for the creation of financial reserves under the conditions of the appropriate law. This involves above all:

  • Act 185/2001 Coll., on garbage, as amended. The act lays a duty upon the operator of a rubbish dump to open a special tied account for the purpose of depositing financial resources for the creation of a financial reserve for re-cultivation, care of the dump, and sanitation upon the termination of its operations
  • Act 18/1997 Coll., on the peaceful uses of nuclear energy and ionising radiation (the Atomic Act), as amended – this lays a duty on the party authorised to undertake activities under the Atomic Act (licence holder) to deposit a financial reserve in a tied account held at a bank in the event of the total estimated costs for the de-activation of the nuclear plant exceeding the sum of CZK 1 billion
  • Act 202/1990 Coll., on lotteries and other similar games, as amended – the Act lays a duty on the party which applies to operate a lottery and other games to deposit a financial reserve in a special account at a bank in order to secure the receivables of the state, municipalities, and to pay out prize money
  • Act 79/1997 Coll. on drugs, as amended
  • Other legal regulations which instruct parties undertaking special activities (e.g. the operation of road transport under Act 111/1994 Coll. on road transport) to block part of the resources, i.e. to create a financial reserve, usually for such time as they undertake such activities. However, the Act does not in this case specify that the resources must be deposited in a separate, namely a special / tied account.

A special tied account is designed for

  • entrepreneurs
  • legal entities

What do you need to open a special tied account?

  1. Submit the documents necessary to open a special tied account

    • ID passes
    • the original or legalised copy of a Trade Licence or an extract from the Commercial Register or other register or other document corroborating entitlement to do business no older than 3 months
    • other documents necessary to conclude a contract from which it should ensue that the client is entitled to undertake the activities for which the financial resources are tied in the account.

    2.  

  2. Conclude a written contract with the bank

Related services

A special tied account can be concluded independently or in combination with the following products:

  • Current account
  • Profikonto
  • Pluskonto
  • Benefitkonto

You can open a special tied account

  • by means of the employees of our branches.
  • more information is available on Freefone 800 900 900 or by writing to info@rb.cz

Additional information


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