IQ Professional account

What is a IQ Professional Account?

The LBBW Bank IQ Professional Account is a comprehensive package of banking services linked to a current account. The IQ Professional Account is designed for self-employed persons (freelance professions), and the management of their business finances. Its advantages will be appreciated by people who make frequent transfers of funds, control their finances through electronic or Internet banking, and actively use their payment cards.

For who is the product intended?

The IQ Professional Account is designed for self-employed professionals (freelance professions), such as doctors, pharmacists, dentists, veterinary surgeons, lawyers, notaries, court-appointed experts, official interpreters, auditors, tax consultants, accountants, executors, auctioneers, bankruptcy trustees, authorized engineers and technicians, authorized architects, and patent agents.

What is included in a IQ Professional Account?

The IQ Professional Account is offered in two variants that differ by the extent of basic services:

• IQ Professional Account for CZK 139 / month
• IQ Professional Account⁺ for CZK 459 / month

IQ Professional Account (CZK 139 / month):

• current account
• unlimited number of escrow accounts*
• up to three supplementary foreign-currency accounts (optionally one CZK account)
• Internet banking
• MasterCard Business Standard Programme payment card
• term deposit
• free account statement sent monthly by post or email

Advantages of IQ Professional Account

• 30 standard outgoing domestic payments from the main account per month (one-time payments or payments based on a recurring payment order entered via Internet banking)
• entering, changing, and canceling recurring payment orders via Internet banking
• free incoming domestic payments to the main account
• free transfers from and to your LBBW Bank accounts via Internet banking
• free cash deposits to the account
• Professional account management services (banking advisor)

* If you are a notary, lawyer, bankruptcy trustee, or executor, LBBW Bank's IQ Professional Account allows you to open an unlimited number of escrow accounts. There can be only one escrow in an account at a time. Information on the current account balance by phone free of charge.

IQ Professional Account⁺ (CZK 459 / month):

• current account
• unlimited number of escrow accounts*
• up to three supplementary foreign-currency accounts (optionally one CZK account)
• Internet banking
• electronic banking MultiCash
• MasterCard Gold payment card or MasterCard Business Executive Programme
• term deposit
• free account statement sent monthly by post or email

Advantages of IQ Professional Account⁺

• 30 standard outgoing domestic payments from the main account per month (one-time payments or payments based on a recurring payment order entered via Internet banking)
• entering, changing, and canceling recurring payment orders via Internet banking
• free incoming domestic payments to the main account
• free transfers from and to your LBBW Bank accounts via Internet or electronic banking
• free cash deposits to the account
• Professional account management services (banking advisor)

* If you are a notary, lawyer, bankruptcy trustee, or executor, LBBW Bank's IQ Professional Account allows you to open an unlimited number of escrow accounts. There can be only one escrow in an account at a time. Information on the current account balance by phone free of charge.

Optional services

• sending information SMS in case of change balance on account or credit card transaction
• internet banking LBBW Business Direct

Requirements for opening a IQ Professional Account

Self-employed person

• One identification document
• Business license in the form of a certificate of membership in a Professional association
• Identification Number certificate

Self-employed person incorporated in the Commercial Register and legal entity

• One identification document
• Abstract from the Commercial Register not older than three months
• Certificate of membership in a professional association

Agent

• One identification document

Note: An identification document is a personal identification card or a passport and in the case of foreigners a passport with i) a valid long-term visa or ii) a valid residency permit.

More information

• Table of Fees and Commissions / IQ Professional Account
• Current Interest Rate for the IQ Professional Account / Table of Interest Rates for Entrepreneurs and small business

How to open a IQ Professional Account?

The process is simple. Call 844 844 822 during Monday to Friday and you will be contacted by our staff within 24 hours the next business day. You can also visit any LBBW branch; selected branches are open on weekends.