BÖLLHOFF, s.r.o.

At first, we only made foreign payments and purchased foreign currencies in banks. Over time the bank charges became unacceptable for us and we felt like we were wasting money. Then we discovered the Citfin EASY multi-currency account and decided to try something new. This resulted in very surprising savings. After all, Citfin offers three EUR payments for free each month and each additional for only twenty crowns. Incoming EUR payments and all domestic payments are free of charge. This annually saves our company tens of thousands of crowns.

As we are a company that operates internationally, we need to purchase all around Europe and the world. The EASY account allows us to manage several currencies under one account. It’s easy to use and understand. Thanks to this benefit, we could close several foreign exchange accounts with traditional banks, which were too burdensome and, above all, too expensive to manage.

We also use Citfin forward transactions, which now, after the closure of CNB interventions, became a very important instrument. With forward transactions, we simply fix the rate for all known liabilities, which we will have to pay in a foreign currency in the future. You don’t have to worry about any loss from rate fluctuations. What I appreciate the most about Citfin hedging is its flexibility. I can make a forward transaction whenever I want. I don’t have to wait for it to be completed and can draw funds from it earlier, if necessary. Moreover, hedging by a forward transaction with Citfin is easy, and it can all be arranged over the phone. If I decide to use hedging today, Citfin will provide it tomorrow, which is extremely convenient. Their fast, professional and personal approach cannot be found in any bank.

Petr Čížek
Managing Director