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Bank Millennium International Transfers & Exchange Rates
Millennium Bank
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Published On:
November, 22 2022
Edited On:
March, 20 2023

Bank Millennium International Transfers & Exchange Rates

Established in 1989 as Bank Inicjatyw Gospodarczych Big SA, Bank Millennium now operates in all financial markets with the latest technologies and best banking practices available. With customer centrism at the forefront of their priorities, the Bank focuses on providing convenient access to different kinds of services — both financial and non-financial — that their customers may need.

About Bank Millennium

Bank Millennium is a digital commercial bank based in Warsaw, Poland. It is owned by Millennium BCP, a Portuguese bank, and it is one of the largest banks in Poland. As one of Poland’s largest banks, Bank Millennium allows clients to easily send and receive money from all across the world.

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Bank Millennium Exchange Rates and Fees

Like any other money transfer service, Bank Millennium has its own exchange rates and fees. Both interbank and international money transfers have transfer fees, but you also have to consider the exchange rate.

Exchange Rate

As of 13 May 2021, Bank Millennium’s GBP to PLN rate is 5.022, while their EUR to PLN rate is 4.322. As with all forex rates, these change every day, so it is best to check the Bank’s exchange rates before making an international money transfer.

When doing an international money transfer with Bank Millennium, they have an exchange rate margin of 5.0%.

This means that if you are sending 100 PLN to a bank abroad, your beneficiary will receive the equivalent of 95 PLN.

It is crucial to consider both the exchange rate and the exchange rate margin when it comes to international money transfers. This way, you know exactly how much you need to pay and how much the recipient will receive.

Transfer Fees

Bank Millennium’s transfer fees depend on whether you are sending a domestic transfer or an international transfer.

For those who wish to transfer money to other banks, the transfer fees depend on the destination bank and the transfer method. Suppose you are sending money to another Bank Millennium account. In that case, there is no transfer fee if you transfer through Millenet, mobile banking, or MilleSMS. However, if you choose to transfer in the Bank’s branch or by phone banking, you will have to pay around 5-14,99 PLN.

If you are sending money to other banks, the same factors also determine the fees you will pay. However, if you transfer through SORBNET, the fees will depend on the amount of money transferred, whether it is above or below 1 million PLN.

All international transfers are subject to a 0.25% fee, with a minimum of 17 PLN and a maximum of 170 PLN. On top of this, urgent transfers have an additional 50 PLN fee, while express transfers have an additional 100 PLN fee.

Bank Millennium also has different fees for SEPA payment orders in EUR, which depend on the amount sent. Payment orders for up to 250,00 EUR have a 9,50 PLN fee, while SEPA payment orders for amounts greater than 50 000,01 EUR have a 0.20% fee with a minimum of 25 PLN and a maximum of 200 PLN.

How Do Bank Transfer Fees Compare to Using a Money Transfer Provider?

Bank Millennium’s transfer fees are higher than typical money transfer providers. While Bank Millennium’s international transfer fees have a rate of 0.25% of the total amount sent, they always have a fixed minimum of 17 PLN.

On the other hand, with money transfer providers like Wise, Azimo, and Skrill, the transfer fees you pay range from 4,99 PLN to 15 PLN depending on the transfer method you choose. In addition to these transfer fees, you will also have to consider the margin rates. While Bank Millennium’s margin rate is fixed at 5.0%, most money transfer providers typically have margin rates at 0.7% to 1.0%.

Bank Millennium Pros and Cons

International money transfers with Bank Millennium have their pros and cons, and in this case, it’s a matter of convenience vs. costs.


Convenience - if you are a Bank Millennium account holder and you don’t want to exert too much effort just to make a money transfer, you can easily do so by using TeleMillennium, Millenet, or MilleSMS, all of which you can use from the comfort of your home or office.
Pre-filled transfer forms - Since you are already an account holder, some of the fields in the form will already be filled in with essential information. For frequent transfers, this can include the account number or the recipient.
Recipient History - The app can also save the information of your last recipients, which can save a lot of time compared to filling out all forms from scratch.


Cost - When it comes to money transfers, bank rates are usually less competitive than those used by specialist money transfer providers, which usually charge lower exchange rates and fees. This is because when you use a bank, you are also paying for all the operational costs. Banks are more expensive to run and maintain, and they pass these costs on to customers.
Longer waiting period - Money transfers through banks can also take a longer time compared to money transfer providers. This is because the money goes through other intermediary banks.

If you want to save money when sending currency abroad, it is better for you to send money through a money transfer provider.

On the other hand, if money is not an issue for you and you prefer convenience, then an international bank transfer may be the right option for you.

Opening an Account

Opening a Konto 360° account, Bank Millennium’s main current account that comes with a savings account, can be done in multiple methods, and you can choose the method that is most convenient for you.

If you choose to open an account by logging in with another bank, your account will be activated in about 15 minutes.

If you choose to open an account through courier document delivery, your account will be activated in 1 – 3 days.

If you choose to open an account through one of the Bank’s branches, your account will be activated in 1 day.

Finally, if you choose to open an account by uploading a photo of your face and ID, your account will be activated in 15 minutes. You can start opening an account through any of those methods through their website.

Transferring Money

Transferring money can be made through their Millenet Internet banking system, through the mobile app, through a chat consultant, or through their physical branches.

Additional Information

Opening a Konto 360° account is free of charge, and there are no costs for domestic PLN transfers, opening and maintaining a Konto Oszczędnościowe Profit savings account, and convenient BLIK mobile transfers.

However, account maintenance, cash withdrawals, and debit card maintenance are free only if the client provides a minimum of 1000 PLN of external inflow to the account and makes at least 1 payment with the card or by BLIK per month. Those who do not meet these conditions are subject to a 15 PLN monthly fee.

The Konto 360° Account also comes with a Pakiet Bardzo Pomocny insurance package which offers medical and household assistance that can be used for up to 7 assistance services per year. The first 6 months are free of charge, after which the insurance premium is set at 4,98 PLN per month.

Bank Millennium’s current accounts have multiple variants: the standard Konto 360° account, the Konto 360° Student account for those who are 18-26 years old, the Konto 360° Junior account for those under 18, and the Konto Walutowe, an FX personal account for those who want to keep their money in EUR, USD, GBP, and CHF.

Bank Millennium also offers a Prestige Personal Account and Prestige World Account for existing account holders, which works similarly to the ordinary Konto 360° Account but with additional privileges and benefits like unrestricted 24/7 contact with the Bank.

These prestige accounts always have zero cost for account maintenance, cash withdrawals from ATMs in Poland, debit card maintenance, local transfers in PLN, Pakiet Bezpieczeństwa insurance, and standing orders and direct debit.

However, the Prestige World account has additional privileges; there are zero costs for an FX account, international transfers, a debit card in EUR, SEPA transfers, Pakiet Bardzo Pomocny Insurance, and Travel Documents and Concierge insurance.

Both Prestige accounts require a monthly turnover of at least 10 000 PLN in a month.

Customer Service Details for Users of Bank Millennium

Non-customers of Bank Millennium can contact the Bank’s customer support through an online contact form, through the helpline at 801 331 331 or +48 22 598 40 40, or through a branch visit.

Bank Millennium customers can chat with a consultant by logging in on Millenet and the mobile app.

Can I Use Bank Millennium for International Bank Transfers?

Yes. International money transfers in PLN to international banks can be made in the Bank’s branch or through Millenet.

Their international money transfer has three variations: Standard, Urgent, and Express.

All variations have a 0.25% transaction fee with a minimum of 17 PLN and a maximum of 170 PLN. On top of that, Urgent transfers have an additional 50 PLN fee, while express money transfers have an additional 100 PLN fee.

Standard transfers take 1-2 days to complete depending on compliance with SEPA orders and the currency.

Urgent transfers take 1 day, while express transfers are made on the same day.


As one of Poland’s biggest banks, it is no surprise that Bank Millennium offers international money transfer services with very high fees.

Like most commercial banks, Bank Millennium is primarily catered to other services, which is why transaction fees and exchange rates for international money transfers are higher compared to money transfer service providers.

If you prioritize convenience and transferring money with a few taps on your phone, you can transfer with Bank Millennium, but beware of the high costs. However, if you want to save your money while transferring currency abroad, you might want to consider using a service provider for your transactions.

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April Summers
April Summers
April is a trained journalist and the Content Editor for She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she's not writing about global remittances she can be found daydreaming about her next holiday abroad.

Answers to key questions about Bank Millennium

Banking always comes with a lot of questions, regardless of the service you might want to use. This is especially true for Bank Millennium because it is one of the biggest Polish banks.

Can I open a Bank Millennium account in any country?
Does Bank Millennium have an app?
Are there transfer limits?
How long do transfers take with Bank Millennium?
What customer support options are available?
Can I use a Bank Millennium debit card when traveling abroad?
How to open an account and transfer money with Bank Millennium
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