Choosing the right BANK in Poland

Today, I would like to introduce to you a few options of Bank accounts available for personal use. Those ones have the best conditions and minimum fees. Also, there are little or no fees for ATM service, and you get best exchange rates if you set them up with the bank directly. You have got to be careful with a foreign currency, so you don’t lose much on the exchange.

PKO BANK POLSKI (KONTO DLA MLODYCH)

This account is perfect for every student. It’s a free account, modern mobile App and internet banking, allowing you to make free transfers. The fee for the card is easy to avoid – just make 4 card payments each month.

HIGHLIGHTS:

Account Fees:

PLN0 – opening the account

PLN0 – monthly fees

Card Fees:

0PLN – debit card issue

0PLN / 5PLN – monthly fee

IMPORTANT: you pay nothing for the card if you make min. 4 card transactions a month

ATM fee:

0 PLN

USEFUL INFORMATION:

• account designed for people 18-26 years old
• min 4 debit card transactions a month
• mobile APP IKO and online access to the account IPKO
• Invoobill – all bills in one place
• free ATM in Poland and abroad
• Autosavings options
• Western Union Money Transfers
• BLIK payment option
• pay with your phone IKO App
• Foreign Currency Account for EUR, GBP, CHF, DKK, NOK, SEK, CZK, HRK, HUF.
• Debit card for other currency

EXTRA FEES:

• PLN 2.99 / 0 – recurring transfers established at a bank branch / online,
• 0/1 PLN – direct debits to accounts at PKO BP / other banks,
• 0 PLN – internal and external transfer online,
• 5.99 PLN / 8 PLN – internal / external transfer at a bank branch,
• PLN 2.99 – internal and external transfer via telephone banking
• PLN 20/40 – domestic transfers in the SORBNET system in the amount higher or equal to PLN 1,000,000 / less than PLN 1,000,000,
• PLN 8 – European transfer,
• 0.15%, min. PLN 25 – international online transfer.

OREGIN CURRENCY ACCOUNT

You get the option to set up the iPKO Currency Account. You can manage your account in any currency: EUR, GBP, USD, CHF, DKK, NOK and SEK, CZK, HRK, HUF. Such an account is a great option for people paying off loans in foreign currency, shopping in foreign online stores, traveling around the world or receiving remuneration in foreign currency.

Multi-currency card

The transaction service has an online currency exchange office that allows on-line currency exchange, free of charge. Your card becomes a multi-currency card.

HOW TO OPEN THE ACCOUNT

1. ONLINE

• Go to https://www.pkobp.pl
• Fill out the application: fill in your personal details, home address, contact details, tax residency statement and the number and series of your ID.
• Wait for the contact of a consultant who wants to confirm your data.
• The courier will provide you with a contract.
• Sign the contract and the courier will deliver it to the bank.

2. IN PERSON at the BANK – bring your passport, proof of residency and proof of address

PKO Bank Polski (konto za zero)

Profile of the ideal client:

• makes card payments for the amount of min. PLN 300 a month,
• prefers the management of funds through mobile and internet banking,
• wants free withdrawals from ATMs abroad,
• wants to save (the bank offers great autosaving services),
• gets a benefit from the Family 500 Plus program.

Account Fees:

PLN0 – opening the account

0/8PLN – you can avoid the fee if you receive Family 500 plus or take up a debit card

Card Fees:

PLN0 / 8PLN

No fees for the card when you make monthly transactions with the card for min 300PLN

ATM Fees:

PLN0 / 3PLN

Use PKO ATMs for fee withdrawals in Poland

USEFUL INFORMATION:

• BLIK service
• IKO APP phone payments
• online IPKO
• shared account option
• Autosavings
• EPUAP – system with your personal profile will help you deal with officials
• Foreign Currency Account

EXTRA FEES:

Transfer Fees:

• 3 percent, min. PLN 5 – cash withdrawal at other ATMs in Poland,
• PLN 1 – cashback payment,
• 3 percent, min. PLN 10 – withdrawal at ATMs abroad,
• PLN 5.99 – internal and external transfer at a bank branch,
• PLN 2.99 – internal and external transfer via telephone banking,
• PLN 20 / PLN 40 – domestic transfers in the SORBNET system in the amount higher or equal to PLN 1,000,000 / less than PLN 1,000,000,
• PLN 8 – European SEPA transfer,
• 0.15 percent min. PLN 25 – international online transfer.

HOW TO OPEN THE ACCOUNT:

1. ONLINE

• Go to https://www.pkobp.pl
• Fill out the application: fill in your personal details, home address, contact details, tax residency statement and the number and series of your ID.
• Wait for the contact of a consultant who wants to confirm your data.
• The courier will provide you with a contract.
• Sign the contract and the courier will deliver it to the bank.

2. IN PERSON at the BANK – bring your passport, ID, proof of residency and address

NEST BANK

No fees for the Nest Account management and the card is completely free. In addition, you can place your savings on an attractive deposit with 4% interest. on a yearly basis. The Bank APP will let you make transactions anytime anywhere.

Account Fee:

0PLN

Card Fee:

0PLN

ATM fee:

0 PLN

More information:

• mobile APP will let you do all you want with your account at any time any day
• Foreign Currency account
• Savings account
• Android Pay – pay with your phone

Extra Fees:

• 5PLN for ATM withdrawals abroad plus 3% commission on currency conversion
• PLN 0 / PLN 5 – transfers in the ELIXIR online system / at a bank branch or by phone,
• 0 PLN / 5 PLN – European SEPA transfer online / at a bank branch or by phone,
• 15 PLN / 0.2%, min. PLN 20 – SORBNET foreign exchange transfer online / at a bank branch or by phone.

HOW TO OPEN THE ACCOUNT:

1. ONLINE

go to https://nestbank.pl/dla-ciebie-i-rodziny/konta

fill up the form

Confirm the agreement with a verification transfer for PLN 1. Make it from your personal account in another bank.

After accepting, activate your account.

2. Go to the nearest Branch and do it in person – bring your passport, Id, proof of residency and address

ALIOR BANK (Internet Banking)

Profile of the ideal client:

– makes monthly payments with a card for an amount of min. PLN 300,

• values comfort and focuses on mobile banking,
• cares about free foreign bank transfers.

Account Fee:

0PLN

Card fee:

PLN0 / 5PLN

ATM fee:

PLN0 / 6PLN

no fee if card transactions are made min 300PLN/month

MORE INFORMATION:

• free ATM withdrawal abroad
• Android Pay
• BLIK service
• Express money transfers (paid 1-5PLN)
• online banking

EXTRA FEES:

CARD FEES:

• PLN 8 – payment of cash on own account in a bank branch,
• 0.35% amounts – payment of cash in the Planet Cash network deposit machines,
• 0.6 percent amounts – cash payment in other cash deposit machines,
• PLN 5 – cash withdrawal at other ATMs in Poland and in the Planet Cash and Euronet network (less than PLN 100),
• PLN 8 – cash withdrawal at a bank branch,

Transfer fees:

• PLN 9 / PLN 5 – an external transfer at a bank branch / via telephone banking,
• PLN 8 – domestic transfers in the ELIXIR system at a bank branch,
• 0 PLN – European transfer. You will not pay anything for electronic transfers to another country belonging to the European Union.
• PLN 30 – online international transfer.

HOW TO OPEN THE ACOUNT:

1. ONLINE – fill out a form and wait for the courier to sign the documents, then send it back
2. ONLINE VIDEO confirmation – a consultant will video call you to confirm your identity
3. In person at a branch

REVOLUT CARD – Something different, but saves you heaps of money on currency exchange.

Install the app, and get free 20PLN [ link ]

Who is it for?

People who do not intend to settle in one place, who seek new solutions, and are keen to try new things.

What is it?

Global payments and transfers without ridiculously high exchange rates. Revolut creates a global bank tailored to your lifestyle.

How it works?

1. Download an App and OPEN an ACCOUNT WITHIN A FEW MINUTES

2. BUILT-IN BUDGETING OPTIONS – you will get a good view of where your money goes every month and help you set monthly spending limits for categories such as restaurants or grocery stores.

3. SAVE YOUR SPARE CHANGE – Round up each card payment to the nearest whole number, and spare change goes to your savings

4. IMMEDIATE NOTIFICATIONS ON SPENDINGS – you get a notification to your phone after the card payment is made

On their website, you can find different account plans.

https://www.revolut.com/en-PL/our-pricing-plans

STANDARD PERSONAL ACCOUNT 0 PLN/month

What you get?

• Free UK current account
• Free Euro IBAN account
• 150 currencies at the interbank exchange rate
• No fee exchange in 29 currencies up to PLN20,000 a month
• No ATM fee for withdrawals up to PLN 800 a month

METAL PERSONAL ACCOUNT 49.99 PLN/month

What you get?

• Free UK and Euro IBAN account
• 150 currencies at the interbank exchange rate
• unlimited exchange in 29 currencies – no monthly limit
• No fee ATM withdrawals up to PLN 2,400 a month
• overseas medical insurance
• delayed baggage and delayed flight insurance
• global express delivery
• priority customer support
• access to 5 cryptocurrencies
• revolut metal card
• loungeKey Pass

PREMIUM PERSONAL ACCOUNT 29.99PLN/ month

What you get?

• Free UK and Euro IBAN account
• 150 currencies
• unlimited exchange in 29 currencies, no monthly limits
• no ATM fee withdrawal up to PLN 1600 a month
• medical insurance
• delayed baggage and flight insurance
• global express delivery
• instant access to 5 cryptocurrencies
• premium card
• loungeKey Pass

There are also Business Options available.