EUR to PLN: Best Personal Bank Account

EUR to PLN: Best Personal Bank Account


You can transfer funds from EUR to PLN not only when visiting the bank, but also in the online account. The article offers TOP 5 most attractive banks for clients. The listed financial institutions have English-speaking and Russian-speaking operators, an electronic account, a low commission and a convenient conversion system. Choose your bank to open the best personal bank account!

Best personal bank account for EUR to PLN transfers

Both local residents and foreigners can open a personal bank account in Poland. For the latter, a minimum package of documents is required (if we are talking about a personal account, and not for a business). You will only need a foreign passport, Pesel (TIN), which is not necessary in principle, and you can also ask about the place of work. You also need to indicate the Polish phone number, which will be needed to download the Internet application (for making payments online).

In Poland, there are several types of bank cards that are issued in addition to a bank account. The card can be ordered to receive a salary (if you work in Poland), scholarships (if you are a student), purchases (if you are a fan of shopping abroad). Each type of card has its own characteristics and advantages.

Criteria for choosing a bank to open an account

A bank is a financial institution whose main activities are raising and placing funds, as well as making settlements. From an economic point of view, banks act as intermediaries in the money market between those who have free cash and those who need additional resources.

Types of banking services

  • deposit operations. They represent a client deposit on which interest is credited;
  • credit operations. They include the issuance of loans to customers and the receipt of income by the bank;
  • settlement operations.

Before opening an account, you need to decide on the bank. This is an important stage on which the further quality of service and the size of the commission depend. In Poland, banks are private and state-owned. The following factors influence the choice of a financial institution:

  • Accessibility (the bank must provide a full package of services for foreigners).
  • Reliability (the more years the institution has been on the market, the better: this serves as an additional guarantee against possible bankruptcy).
  • Comfortable service conditions (ideal if the bank has mobile applications and Internet banking).

The presence of the latter is an important nuance. The client may be located outside the Republic of Poland, and then the presence of an electronic wallet will be an excellent way out of a situation when you need to quickly make a transfer with a minimum commission.

Many banks offer to open the best personal bank account, but TOP 5 should be preferred. Below is a list of financial institutions that are most attractive to customers:

1. Millennium

A well-known bank that has a multi-thousand customer base and one of the most attractive conditions. Founded in 1989, the bank has numerous branches, ATMs and an extensive branch system.

Distinctive characteristics:

  • One of the lowest interest rates.
  • Low account maintenance fees.
  • Perfectly working application.

A special feature is a hotline, whose employees speak Russian. Consumers are provided with the most favorable conditions for replenishment, withdrawal of funds, as well as transfers. It is the ideal bank for foreigners and provides a full range of services.

To make a transfer in euros to Polish zlotys, you need to use Internet banking, or visit a branch. If the transfer is carried out through the application, you need to log in. In your personal account there is an exchanger where you can exchange funds for the desired currency.

Note! There are special multi-currency cards. The service of such plastic will cost a little more than the service of a standard PLN account. The commission depends on the conditions of the bank. Millennium Bank has one of the lowest commissions for servicing all accounts.

As for the shortcomings, there are practically none. The only caveat is that banks and branches are located in large and medium-sized cities. In the communes you can find only a branch.

2. Pekao

One of the most influential and reliable banks in the Republic of Poland. The institution was founded in 1929, which earned it such great popularity and recognition, as well as a huge number of regular customers.

Distinctive characteristics:

  • It is the second largest bank in Poland.
  • There is a remote work system Pekao 24.
  • Fast account opening times and low account maintenance fees.

The bank has a well-developed system of branches and ATMs. There are practically no shortcomings, except perhaps the lack of representative offices in small towns.

3. PKO Bank Polsky

The institution has a hundred-year history and is one of the TOP 100 representatives of the largest enterprises in the world. The company has 1,300+ branches. ATMs can be found throughout the country, including in small towns.

Distinctive characteristics:

  • A wide range of financial services.
  • Fast transfers in any currency.
  • Mobile application with multiple languages.

To make a transfer from EUR to PLN, you need to visit a branch, or log in to your personal account (use online banking).

Important! When transferring funds in foreign currency, the application immediately indicates the amount that the recipient will receive in the desired currency, minus the commission.

As for the disadvantages, the account maintenance fee is one of the highest. The bank provides options that other banks cannot boast of, for example, the ability to withdraw cash at the cash desk of the popular ABC Zabka network. The bank provides its customers with the most comfortable service conditions, for example, the ability to withdraw money from any ATM. But the commission for servicing the account and card is appropriate.

4. Alior Bank

The bank was released in 2008, that is, it is a relatively young bank that is developing rapidly. The bank gained popularity among clients due to its convenient service and low commissions.

Distinctive characteristics:

  • Low service fee for the card (only PLN 5).
  • It is possible to keep the card free of charge (when paying for goods and services in the amount of 300 zl or more).
  • There is carefully thought out internet banking.

As for the disadvantages, the conditions of the bank dictate a minimum of PLN 1,500 monthly receipts to the account, so that the service is free. For comparison: Pekao only requires PLN 500+ in monthly income for the account to be serviced free of charge. Also, Alior Bank offers only English and Polish in the e-wallet. There is no Russian language. In any case, the bank is worth your attention. His lucrative financial proposals cover minor flaws.

5. Santander Bank

The third largest bank in Poland after PKO and Pekao. It has an excellent branching system of branches, many ATMs. It is possible to withdraw cash from any ATM in Poland.

Distinctive characteristics:

  • Low account maintenance fees.
  • Perfectly working mobile application.
  • The entire bank with a full package of services is on the phone!

Santander offers a superbly designed app. Using online banking, you can exchange currency, make a transfer at the most attractive rate, order additional products and services. The bank offers a huge range of services available in the mobile application. There is a hot line. There are English-speaking operators.

What types of transfers can be used

It will be a pleasant surprise that transfers in Poland are free. Both within the same bank, and by its partner (that is, transfer between different banks). This is possible thanks to the general Elixir translation system, which operates throughout the country. Its only nuance is that the term for crediting money is 2-3 days.

There are several translation options in the mobile app, and one of them is Elixir Express. Money is credited instantly, but a commission will be required (on average - 5-7 zlotys, but this depends on the policy of a particular bank).

As for the commission when transferring euros to zloty, the commission will be calculated according to a different system than if the transfer was carried out in zloty. In any case, in the e-wallet, the sender, when entering the amount in euros, sees how much it will be in zlotys.

Note! When transferring an amount in foreign currency, in addition to conversion, there is also a hidden commission, the amount of which is about 3%. That is, when transferring amounts from euros to zlotys, or vice versa, the client pays for conversion + these 3%. For example, if you need to transfer 5,000 PLN to EUR, then in addition to the conversion fee, 150 PLN will be additionally debited from the account.

If you need to transfer other currencies, it might be wiser to consider other online low-fee service such as TransferWise or Revolut.

Comparison of TransferWise and Revolut - EUR to USD exchange services

Conversion features

Bank conversion costs are very high. Transfers in different currencies are not very profitable, since the client pays for the conversion + commission. That is why more and more banks are introducing multicurrency cards, which can reduce the cost of commission and conversion. All data is visible in your personal account. This allows you to monitor the exchange rate and choose the most optimal transfer option (Elixir Express also charges a commission).

Summing up

Opening a personal bank account in Poland for a foreigner is easy. A minimum package of documents will be required to settle the formalities. The specialist will offer several options for the account. Please note that a separate commission is charged for each type of service, which, however, can be waived if a number of conditions are met. The manager will advise the best option individually for each client.

Transfers in Euros to Polish Zloty have an additional commission. It can be hidden (attributed in the Terms and Conditions of the User Agreement). If you use a multi-currency card, you can reduce the cost of converting funds. Please also note that the conversion is carried out at the rate of the selected bank in which the client is served. This is also an important factor when choosing a bank - the exchange rate.

Experts recommend opening accounts with financial institutions that offer online banking. This will allow you to monitor fluctuations in the exchange rate, see all the commissions that are charged for transfer and conversion, as well as make transfers at any convenient time. Also, an additional advantage is the presence of the Russian language in the system and Russian-speaking operators for communication.




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