Have you moved your company’s headquarters to Poland or would you like to open a bank account abroad? You need to be patient and prepare a lot of documents. In this article, we’ll take you through the essentials – how to open a bank account in Poland for a foreign company.


A good bank account in Poland – what should it be?

First of all, a good bank account should provide customers with an individual IBAN. If you want to use your account in Europe, avoid banks that do not offer this option.
Last but not least, online banking in a language you know is a requirement – without online access or an understandable language, we are at the mercy of the fate of the bank and should not expect help from the bank’s helpline.
The next step is to check whether the institution has a deposit guarantee – in the European Union, our savings are protected up to €100 000. Does the bank you have chosen also have such a guarantee?
Finally, let’s look at our foreign currency accounts – can we open an account in EUR, PLN or another currency, and what exchange rate does the bank offer for conversion?
If we want to use ATMs, let’s find out if the bank will issue a multi-currency card. This option will allow us to avoid high costs when withdrawing money from ATMs.
Finally, it is worth paying attention to the costs of opening and maintaining an account. These should be reasonable, i.e. free up to a certain deposit limit and a reasonable fixed fee above this limit.


Bank account in a foreign bank – what do I need ?

If a foreign company has a branch in Poland, the route to a bank account will not be as complicated as for a foreign company without a branch. For a Polish company, it is no problem to open a bank account, simply because banks like customers who have a steady income, usually higher than individual customers. They fight for such clients, but if a company is established abroad and wants to open a bank account in Poland, the banks have problems because it is difficult for them to determine the business profile of that company. In addition to the application to open a bank account, the foreign entity has to submit a myriad of documents which have to be translated into Polish and certified by a notary or a sworn Polish translator, with additional costs and extra trips to Poland.

First of all, the foreign legal entity has to submit documents such as a copy of the register, a copy of the articles of association and a copy of the memorandum of association. All these documents must be translated into Polish. Most banks ask for:

  • A description of the company’s activities;
  • Proof of why the company needs a bank account in Poland;
  • A completed customer questionnaire and a questionnaire;

Obstacles to opening a bank account in Poland

The large number of documents that foreign companies have to translate is not the only obstacle. When a foreign national who does not speak Polish applies to open a bank account in Poland, there is a language barrier. However, in this case it is worth considering a fluent translator who can accompany you to the bank or speak to a consultant on the phone. Of course, this is an additional cost.

All Polish banks have anti-money laundering procedures. It is recommended that the foreign company’s activities are not related to cryptocurrency activities or countries such as Iran, Syria, Sudan. Each bank has a number of ways to verify a foreign entity. If the bank has questions about the credibility of the company, the bank may not agree to open a bank account. This is a matter for the bank’s head office to decide each time.

Opening a bank account in Poland takes between a few days and two weeks. Therefore, to avoid wasting a lot of time, it is advisable to entrust the process of opening a bank account in Poland to AssistPRO’s specialists, so that you don’t waste time or money on unproductive applications.