Hello our appreciated reader, for this blog we have decided to answer the most important questions asked for many times related to opening bank account in Poland. We will be more than happy to be able to assist you with this requirement. As It’s not tough to guess that Opening a local bank account is important matter for those individuals who wants to relocate from their home country. So as without it you’ll come across little obstacles such as e.g. setting up a home internet connection or getting a mobile phone contract. For many people these are essentials, so opening a bank account in relocating process always becomes popular topic.So take a look what documentation is required to set up an account in any bank of Poland and revise the legal ways to obtain this right below.
What documentation is required to open a bank account in Poland?
Opening a bank account in Poland will be simplified if you’re a resident. You should take this note that most of Polish banks do not offer their products for non-residents.with the purpose making this a more tricky option for the occasional visitor in the country. Thus, If you’re Poland resident you are required to present the following documentations:
- Your national ID card or even passport
- Document Proving your residence . It can be resident card or even rental contract.
- In case of a credit card or overdraft facility, expect to be asked for a proof of employment or if even banking history
As in many European countries so as in Poland every banks’ branches have English speaking workforce and call centers too. banks are being opened until 6 or 7 pm during the week. If you want to require something you have to find someone experienced in this field otherwise you will come across many problems which will be tough to overcome alone for you. Hereby, we offer our consult service where we take all the paper work on your behalf within the framework of country’s legislation.
Can foreigner open a bank account remotely?
To answer this question straightly answer may be NO, but everything has its own exceptions, so I’m gonna tell you what they are. MBank is an internet based bank which permits online bank account opening – but only for Polish residents!.If you have already got residency, but you are being abroad, they can help you open an account remotely and take with this advantage.
In case you have already moved to Poland, but hesitate to visit a bank, Bank Millennium offer the option of remote account opening, once you are in Poland. You are obliged to fill out the forms required online, and then make an appointment for a courier to visit you with documents and your bank card. The courier will check your ID and the other needed documents, then your requirement is done.
Can foreigner open a bank account as non-resident?
In case you’ve not come in Poland yet, and consequently, you have not done Polish residency documentations you will find so many difficulties during the procedure.
As we know, Some expats report that they have come across banks which will accept a PO Box instead of a residential address, which means that you could, open an account as a non-resident too. This is unlikely to be official bank policy, but if a PO Box linked account would be useful to you, then it is worth asking around to see if any institution can help you.
Which bank should foreigner choose?
Poland has a wide range of national and international banks. Many local banks are somewhat related to global banking groups – Bank Peko is part of the UniCredit Group, and Citibank has joined the local bank in Poland. It will be easier to open an account in Poland if you go to the institution you are already working with. So check to see if your bank has any relationship with Polish banks if it has a physical presence in the country. Opening an account can be as easy as moving to a local partner institution.
Here we have presented several banks operating in Poland, where from you can choose the best option:
As you might guessed MBank is a kind of bank based on the internet and phone. mention that There are some 47 offices around Poland, but most of their 5 million users use bank online.. Account handling fees tend to be quite low – but if the account you want applies a charge when you output cash from a different bank’s ATM, then it might not be the best deal.
As we mentioned before, the Bank Pekao is a member of the global UniCredit Group, Bank Pekao is a Polish institution with its 85 year history. They offer a full range of banking services, which consists of personal accounts, cards, investment management and loans. Banking can be done on the internet or by phone, of course.
Bank Millennium offers a good range of financial products, which consists of their standard current account which is free to use, and has a cashback deal on spending during the first six months. This account is subjected to certain conditions , including a minimum inflow of cash, and debit card usage. Don’t forget also that other banks’ ATMs might levy a fee for cash withdrawal, even if your own bank doesn’t.
PKO is one of the largest banking brands in Poland, which offers a large range of retail banking solutions. They cover Poland and Ukraine, and specialize in current accounts, payment cards and mortgage products too.
What is the TransferWise Borderless account ?
This is a kind of advantage for business without borders. Old World Bank accounts only work properly in one country. They only have one currency. And it’s expensive when trying to use their boundaries. TransferWise’s new unlimited accounts solve all this.
According to this thing you can send, receive and organize your money internationally, without crazy taxes or even the heaviest exchange rate – just a small, fair tax when your money goes between currencies.
What about Banking fees and charges ?
This paragraph will take a big place on the way to your procedure during opening a bank account. So When you open a bank account in Poland, it’s essential to read the terms and conditions with carefully – especially , when it’s time for banking fees and charges.
For Instance, revise if there are regular charges levied to maintain your account open or use a credit or debit card. In Poland it is normal for there to be a monthly fee applied a certain amount of money about 15 – 20 Zloty to use your account. but it changes over time. Some accounts will waive this fee for the first six months or year, which might make them more attractive.
Other charges include a set fee for outputting cash from an ATM operated by a different bank. Take a note of whether this may apply to your chosen account.
For international money transfers with lower, transparent fees, using Transferwise is a better option. With Transferwise you can transfer money between accounts using the real exchange rate.