Banks in Poland: a complete review and comparison of the TOP-5 banks in Poland by terms of service

Content:

Criteria for choosing a banking institution in Poland

1. Reliability
2. Comfortable conditions of service in a Polish bank
3. Profitable offer

The best banks in Poland: a list of large and little-known banks in the country

Leaders: review and comparison of banks in Poland

• Bank Pekao
• Bank Millennium
• Santander Bank Polska
• PKO Bank Poland
• ING Bank Slaski

How to deposit money into an account in Poland for a foreigner and make a transfer abroad

How to put money on a bank card of another country in Poland

In which Polish bank to open an account and how to close an inactive account

Frequently Asked Questions

• Can I open an account online in a bank in Poland?
• What documents are required to open an account in Poland?

Criteria for choosing a banking institution in Poland

It's no secret that the choice of a bank should be approached responsibly, because the safety of your funds and confidential data depends on it. However, which bank to choose in Poland?

At the end of January 2022, there were more than 500 entities engaged in banking activities (of which 503 are cooperative banks and about 30 commercial ones). On the one hand, this opens up a lot of opportunities for potential customers, because everyone can choose a bank with the most favorable credit conditions and suitable services, but at the same time, it is the variety of banking institutions that complicates the choice. To find the best bank in Poland for yourself, you should be guided by the following parameters.

Reliability

When deciding which bank in Poland is better to open an account with, first of all, it is necessary to determine whether this institution can guarantee stability and reliability. To do this, you should pay attention to how long this or that institution has been operating. After all, Polish banks with a long history have been verified by millions of customers and, as a rule, offer transparent terms of cooperation. GEOLN.COM has compiled a rating of Polish banks that have been operating on the market for more than a decade.

* BGK is the only state-owned bank in Poland

2. Comfortable service conditions in the Polish banks

First of all, we are talking about the possibilities to:

• promptly conduct monetary transactions;
• carry out remote account management;
• quickly connect the necessary services;
• receive support from bank employees at any time.

3. Profitable offers

It is important to consider the cost of servicing accounts, interest rates on loans, as well as the availability of shares. Banks in Poland offer various account options, the cost of servicing which can vary on average from zero to 10 zlotys. Bank BGŻ, Idea Bank, PKO Bank and others can be distinguished among banks that offer free maintenance of accounts and cards. So that you can decide in which bank in Poland it is better to open a card, below are the most attractive rates.

However, it should be borne in mind that the conditions may change, therefore, before opening an account, all data must be clarified directly with the bank!

The best banks in Poland: a list of large and little-known banks in the country

Most of the most famous Polish banks are financed with a significant share of foreign capital, however, all the banks below are Polish and are an amalgamation of foreign and local banks. The largest banks in Poland today are known under the following names:

• Bank Millennium (part of the structure of a large Portuguese holding).
• Citi Handlowy (Citibank) mBank (was created as a result of the merger of the oldest Polish bank Bank Handlowy and the American Citibank).
• PKO Bank Polski (subsidiaries are the Ukrainian Kredobank and the bank of the Scandinavian group Nordea).
• Bank Pekao (part of the Italian banking group UniCredit).
• ING Bank Śląski (part of its shares were bought out by the Dutch company ING Groep).
• BNP Paribas (merger of the Polish bank Bank Gospodarki Żywnościowej and the French BNP Paribas Bank Polska).
• Santander Bank Polski (Spanish bank with part of Polish capital).
• Raiffeisen Polbank (merged with Raiffeisen Bank International AG in 2018).
• Alior Bank (a large share of the capital is Polish).

You can also pay attention to smaller, but equally reliable banks in Poland, including:

• Bank Pocztowy
• BOŚ Bank
• Bank Nowy S.A.

Leaders: review and comparison of banks in Poland

Each of the considered financial institutions, of course, has its own advantages, however, leaders can always be distinguished among the best. We have compiled the TOP banks in Poland from the five most popular and versatile companies.

1. Bank Pekao

One of the oldest banks in the country. It began its work in 1929. As of 2019, the bank's total assets were 209.1 billion. It is known that the institution serves about 6 million clients, including Polish citizens, as well as foreigners. This option is suitable for those who do not know which Polish bank to choose. The financial institution has a lot of advantages, including:

• the ability to get a loan from PLN 1,000 to PLN 250,000 for any purpose;
• electronic banking available for each client, which allows you to exchange currency, set up automatic transfers of funds, pay for purchases, services, travel in public transport;
• property insurance with the possibility of paying full compensation in case of its loss, as well as the protection of completed and unfinished properties;
• opening a deposit account for a period of 3 to 12 months with income up to 7% in PLN;
• mortgage with a small own contribution.

2. Bank Millennium

One of the first Polish commercial banks and the first bank listed on the Warsaw Stock Exchange. The bank was founded in 1989 under the name Bank Inicjatyw Gospodarczych. After 8 years, it merged with Bank Gdański SA and in 2003 became officially known as Bank Millennium.

In 2020, the bank had more than 2.6 individual clients. Today, a banking institution is famous for its Internet banking and digital services available in it, including:

• a chat bot for Mill transactions, which supports voice commands and allows you to replenish your own card, make transfers to other accounts;
• mobile authorization, thanks to which all transactions made in the Internet banking service can be confirmed in the application, without rewriting any SMS passwords;
• Parents can open an account for a child over 13 years old without visiting the branch, the process is completely online and you can immediately use the account, make contactless payments by phone and order card delivery.

Also, new customers can use the free phone consultation service to decide which card to open in Poland.

3. Santander Bank Polska

The history of the bank began in 1988 when Bank Zachodni was founded. Eleven years later, the Irish Group Allied Irish Banks bought out about 80% of the bank's shares, but in 2011 they were resold to the Spanish group Santander, which is the parent company to this day. The bank has more than 600 branches across the country, a capital of more than PLN 992 million, and almost 5.4 million customers. The institution offers:

• issuing a consolidation loan online (such loan funds can be spent to pay off debt in other banks);
• the ability to make contactless payments using your phone, buy tickets and pay for parking, withdraw cash;
• free opening of a debit card;
• making a deposit.

 4. PKO Bank Polski

One of the oldest banks, founded in 1919. The institution is a universal bank. It provides services for individuals, small and medium-sized enterprises, as well as large corporations.

As of December 2015, the bank had 1,238 branches, as well as 11 branches of regional importance. In addition, the bank has 32 corporate centers, 7 regional corporate branches and 881 representative offices. In total, more than 3,000 ATMs have been installed in the cities of the country, which is incredibly convenient, because the work schedule of banks in Poland is usually limited to 17:00–19:00, and access to most ATMs is provided around the clock. The bank serves about 9 million customers, and the number of employees reaches almost 26 thousand. The list of bank services includes:

• project financing within the framework of special loans;
• making a deposit and issuing bonds;
• investment programs;
• life, car, travel insurance;
• opening accounts for children;
• daily banking in a smartphone;
• issuance of elite credit cards.

5.ING Bank Śląski

The bank was founded in 1988 under the name Bank Śląski as a result of separation from the National Bank of Poland. Since 1996, the majority shareholder of the bank has been the Dutch international company Internationale Nederlanden Groep. In 2001, Bank Śląski was merged with a branch of ING Bank NV, as a result of which the bank was renamed ING Bank Śląski.

As of 2021, the bank had 262 branches, and the company also installed contactless ATMs in Poland, their number reaches more than 4 thousand throughout the country. The number of clients is 4.3 million individuals and 504 thousand corporate persons. The capital of the bank is 130.1 million PLN. The institution's services in demand include:

• issuance of credit cards with a limit of PLN 5,000 to PLN 200,000 (depending on the type of card);
• cash loan with a fixed interest rate for up to three years;
• a free application for paying for purchases in stores, withdrawing personal funds from an account using a smartphone;
• the ability to open a multi-currency card;
• travel insurance (you can insure yourself, loved ones and luggage);
• making an investment and savings plan for additional retirement income.

How to put money into an account in Poland for a foreigner and make a transfer abroad?

For non-residents, there are three simple ways to transfer funds:

• at the branch of the selected bank;
• in special ATMs equipped to accept cash (sometimes you can find dollar ATMs in Poland);
• via Internet banking (the fastest way).

Please note that a fee may be charged for this transaction at ATMs in Poland. Its size depends on the tariff plan and the amount of the transfer, however, as a rule, the commission is approximately 5 PLN.

How to put money in Poland on a bank card of another country?

Withdrawal of money abroad is carried out in three similar ways. Most often, the difference is only in the size of the commission, in which case it will be more.

In which Polish bank is it better to open an account and how to close an inactive account?

Today, many Polish banks offer free account opening for citizens of Ukraine. Among the financial institutions with the most advantageous offers for foreigners are:

• Bank Millennium (no need to pay for card and account maintenance, and you can also use ATMs for free);
• PKO Bank (free deposits and withdrawals at ATMs and branches in Poland and abroad, PLN 0 for account maintenance during the first 12 months, multi-currency card for international and online payments without conversion);

Santander BP (no commission for maintaining an account and withdrawing money, you can use Internet banking).

To close an unused account, you need to visit a branch, send a registered letter to the bank by mail or contact by e-mail. It should be remembered that the balance on the card must be positive or equal to zero. After the bank receives a notification from the client, the account will be closed within 30 days. A service charge may also apply during this period.

Frequently Asked Questions

Can I open an account online in a bank in Poland?

Most Polish banks provide services online. Using a special application or on the bank's website, you can open an account in a few clicks by providing electronic or photocopies of documents. In some cases, verification of identity via video link may be required.

What documents are required to open an account in Poland?

For citizens of Poland, only a passport is required, sometimes you can use any identity document (student card, driver's license). To open an account, Ukrainians need to provide at least one of the documents: ID-card or passport, visa or residence card, PESEL, temporary foreigner's certificate.

Is it possible to open a bank account in Poland without documents?

It is impossible to do it without any documents. To open an account, you need to provide at least one document. After that, banks can offer a full or limited range of services. For example, Santander Bank Polska allows persons with refugee status to use all basic services for 6 months, so that the client has time to collect all the necessary documents.

Sources:

1. https://www.bankmillennium.pl/
2. https://www.citibank.pl/
3. https://www.pkobp.pl/
4. ​​https://www.pekao.com.pl/en/
5. https://www.ing.pl/
6. https://www.bnpparibas.pl/
7. https://www.banknowy.pl/
8. https://www.bosbank.pl/klient-indywidualny
9. https://www.pocztowy.pl/indywidualni/
10. https://www.rbinternational.com.pl/
11. https://www.santander.pl/klient-indywidualny
12. https://www.aliorbank.pl/
13. https://polsha4you.com/vse-banki-polshi/
14. https://ru.wikipedia.org/wiki/%D0%9A%D0%B0%D1%82%D0%B5%D0%B3%D0%BE%D1%80%D0%B8%D1%8F:%D0%91%D0%B0%D0%BD%D0%BA%D0%B8_%D0%9F%D0%BE%D0%BB%D1%8C%D1%88%D0%B8