Checks with discounts are cash payments. Discounted checks are sold. The holder of the check agrees to exchange the security for the money, while losing some money, which is what is known as a discount.
Banks settle checks. Owners in the Czech Republic have the right to open an account with a simple bank irrespective of the institution in which it is opened.

Check discounting is a financial practice where a business or individual receives immediate funds for a check before its maturity date. This process involves selling the check to a financial institution or a third-party check discounter at a discounted value. The discount is the interest or fee charged for advancing the funds before the check's actual due date. Check discounting provides quick access to cash, allowing businesses to address immediate financial needs, such as paying suppliers or covering operating expenses. However, the discounted amount is less than the face value of the check, reflecting the cost of the service and the time value of money. It's a common tool for companies facing cash flow challenges or seeking liquidity. Check discounting can be a strategic financial solution, but it's essential for businesses to carefully assess the associated costs and implications before engaging in this practice.