Opening a Bank Account in Poland
For foreigners moving to Poland, having a local bank account is essential for managing daily finances, receiving salaries, and making transactions efficiently. Poland has a modern banking system, with online and mobile banking widely available.
Best Banks for Foreigners in Poland
Several banks in Poland offer English-language support and expat-friendly services:
✅ PKO Bank Polski – The largest bank in Poland with an extensive branch network.
✅ Santander Bank Polska – Known for its digital banking services and international banking options.
✅ mBank – A leading online bank with user-friendly mobile banking features.
✅ ING Bank Śląski – Popular for its low fees and modern online banking.
✅ Millennium Bank – Offers accounts tailored to expats and international clients.
Required Documents to Open a Bank Account
To open a personal bank account in Poland, you typically need:
✔️ Passport or residence permit.
✔️ Proof of address (rental agreement or utility bill).
✔️ Polish PESEL number (sometimes required for full-service accounts).
✔️ Work contract or student ID (for specific accounts).
Most banks also allow online applications, making it easy for expats and digital nomads to set up an account remotely.
Managing Finances in Poland
Understanding how to handle finances in Poland is crucial for foreigners, whether you’re an employee, entrepreneur, or student.
Cost of Living in Poland
Poland is relatively affordable compared to Western European countries. Here’s an estimated breakdown of monthly expenses:
| Expense | Average Cost (€) |
|---|---|
| Rent (1-bedroom) | 400–900 |
| Utilities (electricity, water, internet) | 80–150 |
| Public Transport | 25–50 |
| Groceries | 150–300 |
| Dining Out | 10–30 (per meal) |
Payment Methods
Poland is a cashless-friendly country, with most transactions done via credit/debit cards and mobile payments (Apple Pay, Google Pay, and BLIK).
✅ BLIK System: A Poland-exclusive mobile payment system that allows instant bank transfers and ATM withdrawals without a card.
✅ Revolut & Wise: Great options for international money transfers with lower exchange fees.
✅ Contactless Payments: Widely accepted across shops, restaurants, and public transport.
Taxes & Banking Regulations in Poland
Foreigners working in Poland must understand basic tax regulations to avoid legal issues.
Income Tax in Poland
✅ Personal Income Tax (PIT):
- 12% for annual income up to PLN 120,000 (€26,000).
- 32% for annual income above this threshold.
- Some tax deductions available (e.g., work-related expenses, health insurance contributions).
✅ VAT (Value-Added Tax):
- Standard VAT rate: 23% (on most goods and services).
- Reduced rates: 8% and 5% (for selected products, including food and medicine).
Sending & Receiving Money Internationally
Many expats and remote workers need to transfer money internationally. Here’s how to do it affordably:
- Wise (formerly TransferWise) – Low exchange rate fees and fast transactions.
- Revolut – Multi-currency account for hassle-free spending abroad.
- Western Union & PayPal – Quick options but may have higher fees.
- SEPA Transfers – Free/low-cost euro transfers within the EU.
How Lawdigital Can Help with Banking & Finances
Navigating banking and finance as a foreigner in Poland can be challenging, but Lawdigital provides expert assistance! We help with:
✔️ Bank account setup for expats.
✔️ Tax advisory and legal compliance.
✔️ Money transfer and investment guidance.
✔️ Financial planning for businesses and individuals.
📞 Need financial assistance in Poland? Contact Lawdigital today for professional support!
