Open bank account in Poland

Everything depends on the bank. There are banks, which do not open bank accounts for foreign capital companies, or for companies which do business in some certain areas. Banks often require to prove some business connections with Poland - to provide and prove objective reasons to have bank account in Poland.

First of all, required are the documents according to which it will be possible to determine the persons representing the company and the method of representation. For this, it is best to take out the electronic extract from company register. Often necessary are company's articles of association/regulations, as well as documents that allow the identification of beneficiaries are needed - shareholder structure diagrams and extracts from the company registers of all legal entities in the structure. Documents should not be older than 1-3 months (depending on the specific bank's procedures), and should be translated into Polish and certified by a sworn translator registered in the list of the Polish Ministry of Justice. Savesta provides translation services for all necessary documents.

In most cases, it is necessary to come, there are banks that require to come twice or once, in exceptional cases it is possible to open a bank account remotely. The company representative/representatives must attend, according method of company representation established in your company's articles of association. If you want to give access to bank account for your other employees (ie. accountant), then usually all the persons for whom you want to make individual logins will also need to attend (but the procedures may differ depending on the bank).

Everything starts with the collection of documents and data - this can take several days. Translations will take the next few days. Depending on the specific bank's procedures, the bank may take from 1 to 14 days to analyze submitted application and documents. If the bank accepts the application, then you will have a bank account immediately after coming to Poland and signing agreement. This means that the whole process, depending on the selected bank, can take from 1 to 3 weeks.

Depending on the bank, the number of accounts/debit cards, the type of electronic banking system (standard, corporate), the monthly account maintenance costs will be from 5 to 70 euros.

All deposits, that do not exceed 100 000 EUR threshold are guaranteed by Polish bank guarantee fund. If you are afraid about sums above this threshold, we suggest to cooperate with the biggest and most trustworthy banks in Poland.

You can use various additional banking products and services, however the possibility might be limited depending on the type, origin, age of the company. Most popular bank products such as deposits, letters of credit, foreign currency exchange, payment cards etc. are generally available, however it is always better to make sure before opening an account.

Loans, overdrafts, leasing and other financing services are also possible, but these products are limited and possibility to obtain them are subject to banks individual assessment of your company.