Bank Account Opening

Opening Bank Account in Poland: Practical Guidance for Foreign Investors

How to open a bank account in Poland?

Opening a bank account is one of the essential steps following company registration in Poland. Without an operational local bank account, a company cannot conduct its fundamental banking operations, including salary payments, settlements with the tax office, ZUS contributions, receiving payments from contractors or managing ongoing commercial activity.

Poland’s banking sector is well-developed, with almost 30 commercial Polish banks offering corporate banking services. Most banks provide not only standard current accounts but also products such as foreign currency accounts, factoring, lending facilities, wealth management and online payments.

Although the procedure may appear straightforward, in practice foreign investors often encounter challenges. Strict AML and KYC requirements introduce additional checks, especially for non-Polish shareholders or start-up companies with no operational history. Because many banks follow different internal policies, professional support from a legal advisor frequently helps streamline administrative processes and prepare the necessary documentation.

How to Open a Bank Account in Poland: Step-by-Step Gide

Step 1 – Submitting the Application

Applications may be filed:

• in person at a bank branch (fastest method),
• through a telephone enquiry,
• via an online form.

Submitting documents in person allows for immediate verification, but foreign investors often rely on remote account opening, particularly when travelling from distant countries. Even when applying online, banks may still request additional documents or require later verification of originals.

Step 2 – Completing KYC Requirements

The KYC procedure is required for all companies, including non-residents and european union citizen shareholders. Only entities with fully Polish share capital and management may avoid this step.

Banks must verify:

• legal status of the company,
• structure of account holders,
• identity of shareholders and management board members,
• business profile,
• expected sources of income.

Start-ups or companies without operational history may undergo more detailed questioning. Some institutions request additional documents when a parent company abroad is the main shareholder.

Commonly Required Company Registration Documents

• Articles of association
• Share transfer agreements (if applicable)
• Resolutions appointing management board members
• Beneficial ownership notification
• Passport or national ID scans of directors
• Excerpts from foreign registers with Apostille/legalisation (when required)

Banks may also ask about:

• planned business activities,
• clients and contractors,
• expected annual turnover,
• sources of financing.

Factors that may increase scrutiny include:
high-risk sectors (e.g., trading luxury goods, metals), involvement in cryptocurrencies, complex corporate structures, or connections with jurisdictions listed as high-risk by FATF.

Step 3 – Provider’s Decision

For non-resident companies, the final decision is issued by the bank’s central Compliance Department. A refusal cannot be appealed, and the bank does not disclose the reason.

Step 4 – Signing the Bank Agreement

If approved, the bank invites the client to sign:

• the bank account agreement,
• signature specimen card,
• additional authorisation forms.

Only a few institutions allow full remote signing through the mobile banking system; usually, a branch visit is still required.

Step 5 – Activation of the New Bank Account

The new bank account is typically activated within 1–2 business days after signing. In some cases, activation may occur on the same day.

Overview of Bank Account Providers in Poland

Commercial Banks

The leading banking institutions offering business accounts for foreign-owned companies include:

• PKO Bank Polski
• Bank Pekao SA
• Santander Bank Polska
• ING Bank Śląski
• mBank
• Bank BNP Paribas
• Bank Millennium
• Alior Bank
• Bank Handlowy (Citi)

Most banks offer:

• online banking systems (many provide interfaces in English),
• debit cards,
• customer support hotlines,
• multi-channel access for international transfers,
• accounts in multiple currencies, including PLN as the official currency.

Smaller banks also operate on the market, though some have limited experience handling foreign clients, which may result in stricter KYC procedures or rejection of applications.

Many Polish banks offer support in English, ensuring that foreign nationals who are unfamiliar with the Polish language can navigate onboarding and account management with greater ease.

Alternative Account Providers

Foreign investors sometimes consider financial platforms such as Wise, N26, Monese, ZEN.com or Skrill, which offer multi-currency accounts and competitive exchange rates. These services are convenient, especially for clients who prefer online-only onboarding and require flexible FX tools.

However, relying on such providers comes with notable limitations. Operating costs may be higher due to increased service or maintenance fees, and funds held with these institutions are not protected by the Polish Banking Guarantee Fund. Additionally, unlike other banks operating in Poland, most alternative providers do not support mechanisms essential for companies conducting business locally, including split-payment transfers, tax payment modules or whitelisting in the Polish tax system.

For these reasons, businesses intending to operate in Poland on a regular basis often find that a Polish account opened with a commercial bank remains the more practical and compliant solution.

How Long Does Bank Account Opening Take in Poland?

The timeframe depends primarily on the intensity of KYC review. Banks may take longer when more documents or clarifications are required.

Stage	Estimated Time
Document submission & initial review	a few days to several weeks
KYC verification	varies depending on risk factors
Final decision	typically 2–12 weeks
Account activation	1–2 days

Overall, foreign companies usually complete the process within 2 weeks to 3 months.

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Obligations After Opening a Business Bank Account

Tax Office Notification and Whitelisting

Once the company gains access to its bank account, it must notify the tax office to allow the account to appear on the VAT whitelist. Failure to do so may lead to serious consequences for contractors making payments over PLN 15,000, including:

• inability to treat the payment as a deductible expense,
• potential joint liability for tax arrears.

Similarly, companies must verify the account status of their contractors before making payments.

Ongoing AML Monitoring

AML regulations continue to apply after activation. Banks may block transactions involving:

• high-risk countries,
• unusual volumes,
• unexplained transfers.

The company must be ready to provide justification for any transaction that triggers AML alerts.

FAQ: Business Bank Accounts in Poland

Can the account be opened remotely?

Yes. Remote account opening is possible, although some banks may eventually require a visit to verify original documents.

Can a foreign investor open a business bank account in Poland without a Polish residence permit?

Yes. A foreign investor may open a corporate bank account in Poland without holding a Polish residence permit, as banks allow non-resident companies and individuals to apply remotely or through authorised representatives. However, the absence of residency typically results in a more detailed KYC review, and the bank may request additional documents to verify the company’s structure, business profile and management.

How long does it take to open a Polish bank account for a company?

Foreign investors generally complete the process within 2 weeks to 3 months, depending on KYC requirements.

What documents are required to open a corporate account in Poland?

Banks usually request: articles of association, share transfer documents (if any), resolutions on management board appointments, beneficial owner documentation and ID copies of board members. Additional documents may be required when a foreign company is the shareholder.

Are additional banking facilities such as overdraft or credit lines available to foreign-owned companies?

Access to products such as an overdraft facility or credit line depends on the assessment made by the specific bank. Newly incorporated companies with limited operating history undergo stricter risk evaluation, and many Polish banks may offer such services only after the company demonstrates stable financial activity.

What documents do major banks typically request when opening an account remotely?

When opening an account remotely, major banks usually ask for company documents (articles of association, resolutions, beneficial ownership notification), identification documents of directors, and – where applicable – confirmation of address such as a utility bill or rental agreement. Some institutions may also require documents from the investor’s home country, depending on the corporate structure.

Do foreign investors need to be Polish tax residents to open a corporate account in Poland?

No. A company may open its account without the shareholder or director being a Polish tax resident. However, the account opening process will still involve strict anti-money laundering verification, and banks may request additional required documents to confirm the company’s structure and business activity