How to Open a Bank Account in Poland [Complete Process]

Want to open a bank account in Poland? here is an article that shows you how to open a bank account in Poland alongside the documents you need.
Ketcha Brandon
Open a Bank Account in Poland

Poland is one of the up rising nations in Europe and their economy keeps on expanding due to an influx of immigrants running from nations affected by economic crises, war and political instability along side the large number of educated people are looking for work in Poland.

As for the location, we can say that Poland is located at the heart of Europe since it is centrally located in Europe. Transportation in Poland is less expensive as compare to many other European nations, so from Poland you are able easily move to any other European country either by bus, train or flight.

The advancements of the economy of Poland and its amazing cities are attracting many expats to the country. Since Poland is an upcoming economy in Europe, this means that its banking system is also still undergoing some fixes. If you are planning to live in Poland, then opening a bank account should be a key priority to you.

Want to open a bank account in Poland? Then you have found the right article as I will show how to open a bank account in Poland alongside what documents you need. In case you are a foreigner, we are also going to help you identify the best Polish bank account for foreigners.

Table of Contents

Banking System in Poland

Poland is a country that has a modern banking system alongside developed infrastructure which makes it more attractive to individuals around the world.

The vast majority of banks in the country are privately owned'roughly 80%. Most banks provide the following global services: cash withdrawals at the counter, ATM machines, debit and credit cards, checkbooks, bank transfers, and so on. It should be noted, however, that monthly fees apply.

Transactions such as online banking, direct debit, online banking, and credit cards are also subject to fees. These are usually different from one bank to the next.

Deposits and loans can be made in both Polish Zloty (the national currency) and foreign currencies. Internet banking is becoming more popular, and all major banks will provide you with a variety of online services.

What Documents are Needed to Open a Polish Bank Account?

As compared to several other countries, we can say that opening a bank account in Poland is less challenging and demanding since it is just s straight forward process most especially if you are a resident.

Unfortunately, some banks in Poland do not provide financial products for non residents ad in case you are resident, the following will be required from you:

  • Proof of Employment or banking history
  • A passport or a national ID Card
  • Proof of residence such as rental contract

Numerous banks in Poland have a vast network of ATMs alongside an English speaking staff so it is left on to you to make sure you select the one that will suit you best.

Factors to Take into Consideration Before Opening a Polish Bank Account

Including both private and public institutions we can say that there are over 600 different banks to choose from meaning that you will have to put together some important data to help you narrow down your options. The very first thing you will have to do is to check and make sure the bank you have chosen accepts non residents cause not all of them do accept this.

Hope you know that the official currency of Poland is not Euro, so it is also necessary you make sure that the bank you have chosen will allow you to transact in several currencies. Below are some key factors that you need to take into consideration before opening a bank account with a bank in Poland:

Languages of Customer Service

Majority of the banks in Poland have English speaking employees and call centers even though you might encounter certain exceptions. Before going ahead to sign any contract with  your chosen bank, make sure that the bank offers customer services in a language that also suits you and not only in Polish.

Have in mind that if the website of the bank is only in Polish then you are most likely to receive a Polish customer service as well.

Bank's Fees

In general, banks in Poland are not expensive but at least you can consider paying between 15 and 20 Zloty each month on average (less than 5 euro).

When comparing banks, it's critical to consider all possible fees. Fees for credit and debit cards, as well as overdraft and cash withdrawal fees, may vary from bank to bank in Poland, in addition to the cost of opening and maintaining a basic bank account.

Speed and Ease of Use

As a new member of the EU, administrative Poland's processes have been noted to be slow and cumbersome. Before opening a bank account with a traditional bank, read online reviews and forums to avoid long wait times and other inconvenient issues. Examine whether online banking is available, as well as the location of ATMs across the country.

ALSO READ: How to Open a Bank Account in UK [Complete Guide]

Can I Open a Bank Account in Poland as Non Resident ?

Well the best option here is to check with the bank itself and see what their specific requirements are since some of the banks in Poland have policies that are welcoming to foreigners and merely demands confirmation of identity- which most often is a passport as well as a proof of residence in the nation where you live in.

Best Banks in Poland

Poland has a healthy and well established banking system and these banks offer a set of products to various groups ranging from expats, students to businesses and organizations. The banks also have a widespread ATM network and branch network.

They also offer modern banking services like bill payments and transfers. These banks make it simple to open a Polish bank account for non-residents or foreigners.

Check with your local bank to see if it has a correspondent relationship with Polish banks. If they have such a relationship, switching to a Polish bank will be simple. It is important to consider your banking needs when selecting the best bank for expats. The following are the best banks in Poland for foreigners with whom you might want to open an account.

1. Alior Bank

Alior bank is one of the best banks in Poland and they offer banking services to both individuals and businesses. This bank has a vast network of branches as well as mobile and internet banking options so you can consider this bank as one of the banks to open an account with.

2. MBank

This is actually an internet and Mobile banking bank that is mostly based on desktop and mobile banking. MBank is a great bank to ooen account with in Poland. It makes use of third-party ATMs to serve its more than 5 million customers. Small account fees are charged by these ATMs.

Although account fees are low, keep in mind that ATM cash withdrawal fees vary depending on the type of card you receive with your account and the institution behind the cash machine. Depending on the type of card you get with your account and the institution behind the cash machine, you can get your money out for free, sometimes anywhere in the world, or for a relatively high fee.

3. Bank Pekao

Bank Pekao has been in business for more than 85 years and has a large network of ATMs and branches. The bank offers a variety of banking and financial services, including current accounts, savings accounts, card services, and investment services. They offer phone and internet banking, as well as English-speaking employees and agents in their service centers.

4. Bank Millennium

Bank Millennium provides cashback deals to customers having a free current account and it is actually one of the best bank for expats in Poland. Bank Millennium is known as the best bank for students in Poland since the bank offers exceptional packages to students in Poland. In addition, the bank offers banking services such as debit and credit cards. It also provides savings, investment, and current accounts, as well as a cashback deal.

5. Deutsche Bank Polska

Since 1990, the Deutsche Bank Group has been active in the Polish market. It is one of Poland's best international banks for foreigners. Since October 1995, it has operated as Deutsche Bank Polska. Individuals, Polish and foreign companies, international conglomerates, financial institutions, and the public sector can all use the bank's services.

6. BNP Paribas Bank Polska

BNP Paribas Bank Polska, formerly known as Bank BG BNP Paribas, provides individual clients with savings and investment products, as well as a variety of loan options. BNP Paribas is a subsidiary of the international banking group BNP Paribas. It is one of Poland's best international banks.

7. Credit Agricole

Crédit Agricole provides a wide range of services, including daily banking and personal accounts, loans, credit cards, savings products, and even insurance.

8. PKO Bank

PKO is one of Poland's largest banks. It provides a diverse range of banking and financial products, as well as retail banking solutions. PKO offers a wide range of retail and banking services, including business loans, mortgages, and investments. It is regarded as Poland's best bank for foreigners.

ALSO READ: How to Open A Bank Account in Portugal [Complete Process]

A Complete Guide on How to Open a Bank Account in Poland 

Opening a bank account in Poland will be made simple to you by a majority of banks if you have a residence permit, a PESEL number and a residential address in Poland. Traditional bank allow you to move into a branch with all of the following documentation.

You should, however, allow for processing and waiting hours before your application is approved and your bank account is fully operational. The average wait time is between five and two weeks, not including the time it takes to deliver the debit/credit cards.

This may be more difficult if you have not yet arrived in Poland or have arrived without a valid residence visa.

Non-residents can open a Polish bank account remotely in 10 business days. If you are a resident, however, you can open a bank account with a Poland bank within one business day.

You can open accounts in various currencies such as PLN, EUR, USD, and GBP. You can also obtain multi-currency Visa cards that allow you to spend online and withdraw from ATMs from anywhere.

Is it Possible to Open a bank account from Abroad?

For residents, some banks provide internet banking and online account opening. If you are a resident, you can open a bank account online.

Bank Millennium offers remote account opening if you are not in Poland and want to open a bank account. You will need to fill out forms online and then bring your documents to a courier. Carry your bank card as well. The courier will confirm your identification card and then complete the remaining paperwork.

Final Thoughts on How to Open a Bank Account in Poland

The advancements of the economy of Poland and its amazing cities are attracting many expats to the country. Since Poland is an upcoming economy in Europe, this means that its banking system is also still undergoing some fixes. If you are planning to live in Poland, then opening a bank account should be a key priority to you.

Want to open a bank account in Poland? Then you have found the right article as I have shown above how to open a bank account in Poland alongside what documents you need. In case you are a foreigner, we are also going to help you identify the best Polish bank account for foreigners.

Frequently Asked Questions on How to Open a Bank Account in Poland

Can I open a bank account as a foreigner?

In most cases, a non-U.S. citizen cannot open an account online. Instead, you'd need to visit a branch for a bank or credit union to open an account. Santander Bank, for example, accepts online applications only from U.S. residents or resident aliens who have a Social Security number or ITIN.

How can a foreigner open a bank account in Poland?

A valid passport or EU identity card is the sole document needed. Although the application can be made online, a contract can only be signed in person at a bank. The applicant for an account must be a resident of Poland with a PESEL and a Polish residential address..

Can Tourists open a bank account in Poland?

Polish residents and non-residents can open bank accounts in all the convertible currencies, as well as zloty. Many important banks have opened branches in Poland and most large Polish banks offer services both in English and in Polish.

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