Expat Banking Services in Poland

Published on October 25, 2025 and written by Cyril Jarnias

Navigating the complex world of international banking can be a perilous adventure for expatriates, especially when establishing themselves in Poland. This country, located in the heart of Europe, offers a unique blend of cultural traditions and economic opportunities that increasingly attracts foreign professionals.

Financial challenges, such as managing multiple currencies, understanding the local banking system, and finding the best loan options, require thorough understanding and a well-thought-out strategy.

This article explores how expatriates in Poland can optimize their international financial management and leverage available banking resources to ensure their Polish adventure is not only personally enriching but also financially secure and efficient.

How to Choose Suitable Banking Services for Expatriates in Poland

Understanding the specifics of the Polish banking system is essential for expatriates to avoid administrative hurdles, optimize their financial management, and benefit from services tailored to their situation. The Polish banking landscape offers a variety of options, but these are subject to particular conditions based on resident or non-resident status, language proficiency, and the nature of the stay.

Types of Bank Accounts Accessible to Foreigners:

Account Type	Main Currency	Access for Non-Residents	Features
Checking Account (zloty)	PLN	Yes, at certain banks	Standard account for daily operations
Foreign Currency Account	EUR, USD, GBP…	Yes, more limited offers	Practical for avoiding frequent exchange fees
Multi-Currency Account	PLN + currencies	Variable	Allows managing multiple currencies in one account
Business Account	PLN or currencies	Yes, under conditions	For business creation or independent activity

Account Opening Procedure for Expatriates:

Commonly Required Documents:

• Valid passport
• Proof of address (recent bill, bank statement, rental contract)
• PESEL number (for residents; obtained during registration at the town hall)
• Employment contract (often required for a credit card or overdraft)
• For non-residents, proof of address in the home country is often required

Main Steps:

• Schedule an appointment in person or online
• Provide translated documents if necessary (some banks require certified translation)
• Wait for validation (generally 5 to 14 days)
• Activate the bank card upon receipt

Importance of Choosing a Bank with English and Online Services:

Few Polish banks offer a website or application in English. Bank Millennium is one of the rare exceptions.

The availability of an English-speaking advisor and an English interface greatly facilitates account management, understanding fees, and quick resolution of issues.

Online banks like Mbank offer simplified procedures, but rarely in English.

Common Banking Fees to Anticipate:

List of Typical Fees:

• Account maintenance fees (often free if certain usage conditions are met)
• ATM withdrawal fees outside the network
• International transfer fees (vary by bank and amount)
• Exchange rates (often less favorable than with specialized solutions like Wise)
• Bank card fees (free under conditions or paid)
• Credit card fees (issuance, renewal, foreign use)

Suitable Credit/Debit Cards:

Possibility to obtain a debit card upon account opening (immediately or after a few days).

Credit card subject to income or employment conditions, sometimes difficult to obtain for non-residents.

Comparison of Banks and Specialized Services for Expatriates:

Bank	Services in English	Specialties for Expatriates	Online Platform
Bank Millennium	Yes	No-fee account, free card under conditions	Yes
ING Bank Śląski	Partial	Adapted services, popular among expatriates	Yes
PKO Bank Polski	No	Large network, pro and personal offers	Yes
Mbank	No	100% online bank, quick opening	Yes
N26, Wise	Yes	Multi-currency accounts, international transfer	Yes

Key Points to Compare:

• Availability of services in English (website, application, advisors)
• Accessibility for non-residents
• Specialization for expatriates (advice in English, simplified documentation)
• Flexibility of offers (multi-currency, mobility options, remote management)

Key Takeaways:

Understanding the specifics of the Polish banking system and comparing offers is crucial to benefit from suitable services, limit fees, and guarantee the flexibility needed for expatriate life. The bank’s proficiency in English, access to online services, transparency on fees, and the possibility of personalized advice are determining factors in making the right choice.

Managing Exchange Rate Fluctuations and Optimizing Money Transfers

Expatriates in Poland face significant challenges related to exchange rate fluctuations, which can impact their purchasing power, budget management, and the cost of international transfers. These variations, influenced by inflation, interest rates, and political stability, can make the amount of income or expenses unpredictable, especially when salary or savings are denominated in a currency different from the Polish zloty.

List of Main Challenges for Expatriates

• Variation in cost of living depending on the exchange rate
• Uncertainty when converting salaries and pensions
• Risk of losses during international fund transfers
• Difficulty planning major purchases or investments
• Increased complexity in managing multiple currencies daily

Banking Tools and Services to Mitigate Risks

Local and international banks offer various tools and services to mitigate these risks:

• Multi-currency accounts: allow holding and managing multiple currencies, facilitating conversions at the most advantageous time and reducing exchange fees.
• Automatic exchange orders: possibility to schedule a transfer when the rate reaches a defined threshold, minimizing the impact of sudden fluctuations.
• Rate alerts: sending notifications when the market reaches a favorable level.
• International bank cards: reduce fees during payments or withdrawals in foreign currencies.
• Forward contracts and hedging products: for large amounts, lock in an exchange rate in advance.

Strategies to Optimize Money Transfers

To optimize money transfers, several strategies are recommended:

• Use secure online platforms (Wise, Revolut, Remitly) that offer competitive rates and reduced fees compared to traditional banks.
• Systematically compare transfer fees (fixed and variable) and margins on the exchange rate.
• Choose a favorable time to transfer, monitoring market trends and avoiding periods of high volatility.
• Split large transfers or consolidate several small transfers to reduce total costs.

Comparison of Options for Managing Transfers and Currency Conversions

Option	Advantages	Disadvantages
Multi-currency Account	Fee reduction, flexibility, easier management	May require monthly fees, less suitable for small amounts
Automatic Exchange Order	Rate optimization, automation	Technical complexity, risk of non-execution if threshold not reached
Online Platform (Wise…)	Reduced fees, speed, transparency	Limits on amounts, variable customer support
Traditional Bank	Security, wide network	High fees, less competitive exchange rates
Forward Contract	Protection against volatility	Reserved for large amounts, binding commitment

Key Points to Remember

• Anticipate fluctuations: regularly track rates and stay informed about economic factors impacting the PLN.
• Diversify tools: combine multi-currency accounts, alerts, and digital platforms to maximize flexibility.
• Compare offers: do not limit yourself to one bank or platform for each transfer.
• Plan important transfers: prioritize periods of stability or favorable rates.

Attention: each solution has advantages and limitations; the choice depends on the amount, frequency of transfers, risk tolerance level, and specific needs of the expatriate.

Planning Financial Security and Managing International Wealth

Economic and Tax Environment of Poland: Opportunities and Challenges for Expatriates

Poland benefits from a stable and growing economy, characterized by competitive taxation, particularly attractive for expatriates and foreign investors. Tax rates on rental income are flat (8.5% up to €23,000 annually, then 12.5%), with no social contributions on rental income or real estate dividends. Special Economic Zones (SEZs) offer partial or total tax exemptions for certain investments. Administrative procedures are relatively simple, and installation processes are facilitated by clear regulations. However, Polish taxation can become complex for high incomes, entrepreneurs, or upon leaving the territory, especially with the exit tax at 19% on latent capital gains. International taxation remains under surveillance, with enhanced controls and automatic exchange of tax information.

Advantages	Challenges
Low tax rates on real estate income	Regulatory complexity for high incomes
Exemptions in SEZs	Risks of tax adjustments with poor planning
Absence of social contributions on property income	Enhanced controls and adaptation to tax treaties

International Financial Planning Strategies for Expatriates

• Investment diversification: distribute assets among different classes (real estate, stocks, bonds, structured products) and geographic zones to limit risks tied to a single market.
• Asset protection: use of international structures (trusts, holdings, multi-support life insurance) to optimize transmission and limit tax exposure.
• Use of products adapted to international mobility: multi-currency portfolios, Luxembourg life insurance contracts, international investment funds.

Banking and Financial Services in Poland

• International bank accounts in currencies (EUR, USD, PLN) accessible to non-residents.
• Varied savings offers: savings accounts, term deposits, retirement savings products.
• Access to global financial markets via local or international trading platforms.
• Investment solutions: European REITs, ETFs, index funds, direct real estate investments or via companies.
• Banking services in English and specific support for expatriates in major banks (PKO, mBank, Santander, ING).

Tax Implications for Expatriates: Treaties and Legal Considerations

• Tax resident status: taxed on worldwide income if stay >183 days/year or economic center of interests in Poland.
• Application of double taxation treaties: tax credit to avoid double taxation, notably on dividends, interest, and real estate income.
• Exit tax at 19% upon leaving the country on latent capital gains for tax residents leaving Poland.
• Enhanced control via automatic exchange of information (CRS, FATCA): obligation to declare accounts, income, and life insurance contracts abroad.

Practical Tips for a Balanced and Secure Portfolio

• Assess your risk profile and medium/long-term objectives.
• Diversify between liquid assets (stocks, bonds, funds) and tangible assets (real estate, gold).
• Prioritize investments benefiting from a stable tax framework or targeted exemptions (SEZs, capitalization products with deferred taxation).
• Regularly review asset allocation based on regulatory and economic developments.
• Consult a local financial advisor specialized in international clients.

Resources available for expatriates:

• French-speaking tax and wealth advisory firms in Warsaw, Krakow, Wroclaw.
• Guides and information platforms dedicated to expatriates (associations, chambers of commerce, specialized websites).

Technology and International Financial Management

Multilingual mobile banking applications (mBank, Revolut, N26, Wise) allowing management of multi-currency accounts, quick international transfers, and real-time tracking. Online investment platforms offering access to global markets, portfolio tracking tools, tax alerts, and automated reporting. Budget management and integrated tax solutions (declaration applications, international tax simulators).

Technological Tools	Key Features	Examples
Mobile Banking Apps	Multi-currency accounts, international transfers, remote management	mBank, Revolut, Wise
Investment Platforms	Global access, tax reporting, automated management	DEGIRO, Interactive Brokers
Tax Simulators	Tax calculation, treaty tracking, regulatory alerts	Specialized online tools

Concrete Examples and Recent Figures

• An expatriate investing €100,000 in rental real estate benefits from a flat rate of 8.5% on their rent, meaning €8,500 in annual tax, without social contributions.
• Poland welcomed over 250,000 professional expatriates in 2024, mainly in IT, finance, and industry sectors.
• Over 60% of expatriates use international banking applications to manage their finances remotely.

For optimal management, it is recommended to consult a local tax expert, regularly update your wealth situation, and prioritize digital tools to secure and diversify your international investments.

Legal Precautions and International Banking Applications

Expatriates using international banking applications in Poland must consider several essential legal and practical precautions.

Legal Precautions to Respect:

• Ensure the banking application complies with RODO (Polish equivalent of GDPR), guaranteeing personal data protection and transaction confidentiality.
• Verify that the bank or application is authorized by the KNF (Polish Financial Supervision Authority), ensuring compliance with local financial security standards.
• Review the general terms and conditions, particularly regarding liability in case of fraud or unauthorized access.

Local Regulations on Data Protection and Financial Security:

• Personal and banking data are protected by Polish legislation (RODO), imposing secure processing, limited access, and obligation to notify in case of breach.
• Financial institutions must implement robust security systems (strong authentication, encryption, transaction monitoring).

Tips to Avoid Fraud During Transactions:

• Systematically use two-factor authentication for logins and payments.
• Never communicate your credentials or codes via email, SMS, or phone.
• Verify the official web address or mobile application of the bank before any login.
• Regularly monitor account movements and immediately report any suspicious activity.
• Prefer secure Wi-Fi networks to access banking services.

Services Offered by Polish Banks Facilitating International Operations:

Service	Detail / Main Advantage
Multi-currency Accounts	Ability to hold and manage multiple currencies
Quick International Transfers	SWIFT/SEPA accessible from mobile application
International Debit/Credit Cards	Accepted worldwide, contactless payment
Assistance in English	Customer service and interface in English in major banks
High-Performance Mobile Applications	Account management, payments, transfers, notifications

Popular Banks and Applications Adapted for Expatriates:

Bank/Application	Strengths for Expatriates
ING Bank Śląski	Clear interface, multilingual services, multi-currency accounts
Millennium Bank	Application in English, free card under conditions
PKO Bank Polski	Large network, assistance in English, business solutions
mBank	Online bank, 100% digital opening and management
Wise (ex-TransferWise)	Multi-currency account, real exchange rates, international card
N26	Mobile application, no hidden fees, simple management

Taxes and Fees on Cross-Border Fund Movements:

• Variable fees apply depending on the type of transfer (interbank, SWIFT, SEPA) and currency.
• Transfers in foreign currencies may incur conversion fees and fixed or percentage commissions.
• Certain international transactions are subject to tax declaration in Poland, particularly for large or regular transfers.

Key Takeaways:

• Always carefully read the tariff and tax conditions of your bank.
• Inquire about transfer limits, processing times, and declaration obligations.

Checklist for Secure Opening and Use of an Account in Poland:

• Prepare an ID, proof of address, and if necessary, a PESEL number.
• Verify the presence of English support in the chosen bank.
• Activate all security options of the application (notifications, strong authentication).
• Inform your bank of your travels abroad to avoid transaction blocks.

Understanding local rules and using adapted banking services are essential to secure your international transactions and avoid any tax or legal complications in Poland.