In today’s world, it’s hard to imagine a person without online banking and a plastic card, especially when it comes to entrepreneurs. Today, let’s discuss how to open a bank account in Poland. Online payments are commonly used in stores, public transport, and to pay utility bills, and having a bank account (konto bankowe) is also necessary when starting a business in Poland. Let’s look at how to open an account in a Polish bank for personal use and for your company (corporate account).
Where to Open an Account in Poland?
Given the variety of bank offers, it can be tricky to choose which one to trust with your finances. Differences may not only involve account service fees but also additional benefits. Sometimes, a bank with higher commissions than its competitors offers numerous unique services that are useful for personal use and running a business.
When choosing, you should consider the following factors:
- Reliability (establishment date, number of branches and ATMs, owners)
- Convenience (availability of internet banking and mobile apps)
- Accessibility (availability of services for foreigners)
Here are some banks in Poland that meet all of these criteria:
Bank Millennium
One of the oldest banks in Poland, founded in 1989, it offers a wide range of services for all market segments. The website is available in English and Polish. It has numerous branches, ATMs, and a hotline that speaks Ukrainian and Russian.
Pekao Bank
The second-largest Polish bank, founded in 1929. It is now the second-largest in terms of assets and is part of the UniCredit financial group. Services are available in English and Polish. The bank has a remote banking system called Pekao 24. The time required to open an account for a foreigner depends on the availability and authenticity of the provided documents.
PKO Bank
The largest bank in Poland, with over 1300 branches in the country. It offers a wide range of financial services for both personal and corporate use. The IKO mobile app is available in Ukrainian and Russian.
Alior Bank
A young, rapidly developing bank, founded in 2008. The online banking platform is available in English and Polish. Alior was the first Polish bank to use the Ethereum blockchain platform to verify customer documents.
Comparison of Account Opening Fees
You can check the comparison of account opening fees for all banks [here].
Opening a Bank Account in Poland for Individuals
Our clients often ask if it’s possible to open an account remotely. Currently, this is not possible. So the procedure is as follows:
- Go to the bank with a valid international passport.
- Ask to open an account right then and there. Polish banks like to have you fill out various forms: where you are from, how you heard about the bank, and the application form for a deposit. Then they may ask you to come back the next day. So, it’s best to ask in advance if it’s possible to open the account immediately. We use Millennium (similar to Ukraine’s PrivatBank or Russia’s Sberbank), and this option is available there.
You need to have:
- International passport.
- A phone number, preferably Polish. You will interact with this number as an SMS confirmation will be sent to it, and you will need it to access your personal account.
- PESEL — Polish tax identification number (not mandatory but ideal).
- It’s ideal to have a residence card (Karta Pobytu).
Currently, it’s not possible to open a bank account remotely in Poland. If everything is in order, the account will be opened immediately, or you may need to come back the next day. In general, opening an account for personal use is straightforward.
You also need to have a registered address for where they will send your card. In our case, it was sent by post. If you need to change or block your card, you can do it through the system, and a new one will automatically be sent to the address provided. It’s better to check with the bank, as there may be an option to pick up the card at the branch.
Opening a Bank Account in Poland for a Company
In some EU countries (e.g., the UK, Estonia, Latvia), a non-resident can register a company, but the bank account must have at least 51% ownership from a person who is a citizen of that country. In Poland, there are no such restrictions for foreigners.
To open a business account in Poland, you need:
- Physical presence.
- An up-to-date extract from the KRS (National Court Register for businesses).
- A signed company agreement (umowa spółki) by all board members.
- A valid international passport and PESEL (ideally). In one case, the banker refused to open an account without the PESEL. Many processes rely on it, so if possible, you should obtain it.
- A phone number for SMS verification.
One key point: the account is opened by one of the board members, and only they have access to it. You can technically share the password, but if access happens from different locations, the system may block the account. If you need additional access, the board member must visit the bank and provide their details in the system.
If everything is in order, the account can be opened immediately. Otherwise, the process may take a few days for verification (2-3 days), and the decision will be made after a security check. There was a case where a person who had had a personal account with the bank for over three years was denied a company account. If you want to save time, our team can assist you.
Popular Banks in Poland for Business
Choosing a bank for your business depends on the type of business, its size, and turnover. When deciding to work with a particular bank, an entrepreneur should consider many factors: commission fees, service quality, and additional services related to opening an account. Here is a list of the most popular and reliable banks in Poland:
- Alior Bank
- Bank Pekao
- Bank Pocztowy
- BNP Paribas
- Santander
- Citi Handlowy
- Credit Agricole
- Get In Bank
- Idea Bank
- ING
- Inteligo
- Kasa Stefczyka
- mBank
- Millennium
- Bank Polski
- Toyota Bank
Security Check
The bank’s security service may ask a series of questions. These can range from 3 to 20 questions, and we work with our clients to prepare them in advance. Here are 5 interesting questions to consider now:
- Key counterparties — name, country, registration number, business activity. The bank will ask who you work with.
- Sources of income for your company.
- Why do you want to open an account in a Polish bank?
- Business size — income, number of employees, net profit, annual report.
- Is your company or its owners involved in other businesses? (For example, your company may have a share in another business or own another company.)
In conclusion, opening a bank account in Poland for both individuals and legal entities is not as difficult or scary as it may seem. It must be done in person. Poles are friendly towards foreigners and do not focus on political matters. If you need help opening a business in Poland or opening a bank account, feel free to contact us.
