Send Money To Poland

Ways to Send Money to Poland

Irrespective of the country you are domiciled in, there are three main ways you can send money to Poland. You may decide to use the mainstream banking system, the online money transfer services, or in-store cash transfers. Some providers also allow you to top up mobile phone airtime right from their platforms.

The Banking System

You can send money to Poland using international wire transfers. This is a much slower method, especially when sending money from outside Europe. Banks in Poland such as Millennium Bank, ING Bank, and PKO Bank process lots of remittances into Poland.

Apart from the high transaction fees banks charge, sending money through the banking system to Poland can take up to 5 days to process. This can be inconveniencing when sending money for emergencies.

Despite their reliability and strong institutional framework, banks tend to charge a higher margin above the mid-market rate. This means for every unit of the sending currency; you get less of the Poland złoty.

When sending large amounts of money and you fear that the exchange rate can move unpredictably, online money transfer service providers can help you lock in the rates or better still get an attractive forward rate.

Online Money Transfer Service

While the bank is an excellent channel to transfer funds to Poland, there are inherent disadvantages in the banking sector. Online money transfer providers come in as the best alternative to sending money to Poland.

Companies such as Xendpay, CurrencyFair, TransferWise, OFX, WorldFirst, and Xoom have come in to even out the playground.  In October 2019, TransferWise announced that its customers in Poland would now be able to receive money directly into their bank accounts in Polish zloty.

Signing up for a transfer account with any of the above providers is a matter of minutes. Some may take a little longer to verify your details but it is nothing compared to the hassle in banks. After the account is open, you can pay for your transfer using a debit card, credit card, bank debit or bank transfer and send.

There are two main payout methods, cash pickup and direct bank deposit that you can choose. However, this varies with the provider. There are some who offer only a bank deposit as a payout option.

To make it easier to send and receive money, some online money transfer service providers have developed mobiles applications that are free to download on Google Play and App Store. Through these apps, you can send money, track transfers, add recipients, check exchange rates and even cancel transfers.

In-Store Cash Transfers

Western Union and MoneyGram are the main players in this space. Setting up is also very simple and you have the option of sending online or through an agent. If you prefer sending via an agent, you have the option of choosing cash pickup or direct bank deposit as payout methods.

Airtime Top-up

Through Xoom, you can reload prepaid mobile phones in Poland direct from the platform. Xoom works with 5 carriers in Poland to make this possible. They include Heyah, Orange, Play, Plus and Tak Tak. The recipient gets a text message informing him or her that they’ve received an airtime top-up.

What is Needed to Send Money to Poland

To successfully send money to Poland, money transfer operators require certain information and documents. Some of them may be needed only on the first transfer and subsequently the demands may reduce. Here is the information you need:

• A government issued-ID document. Depending on the country you are sending from, you can use a passport, social security card or driver’s license.
• The recipient’s name as it appears on their legal documents
• The recipient's physical address and phone number
• If you are sending directly to a bank account, the recipient bank details (bank name, branch and account number)
• The amount of money you want to send, the transfer payment option and payout methods

What Are the Ways of Receiving Money in Poland?

There are two ways you can receive money in Poland. Depending on the provider, you may have a cash pickup option and the direct bank deposit option.

Cash Pickup

Xoom has 4,544 locations in Poland from where you can collect your transfer in cash. Western Union has 8,300 pickup locations and MoneyGram has 6,000 locations. Xoom has a partnership with Poczta Polska, the postal office of Poland to serve as its pickup locations.

MoneyGram also has key partnerships with Poczta Polska, Bank Pocztowy SA, and Bank Polskiej Spoldzielczosci.
Cash pickup is a preferred payout method for small amounts of money. Handling large sums of money in cash can be risky. If you can, get someone to accompany you when picking up the cash. Cash pickups arrive in minutes or can take a few hours. In the case of Western Union and MoneyGram, transfers can take one business day.

Bank Deposit

Online money transfer providers can send a transfer directly to the recipient's bank. All major banks in Poland accept direct deposits. It is a safer method and most preferred when receiving large amounts of money.

What is Required to Receive Money in Poland?

If the money has been deposited into the recipient's bank, there is nothing else to do other than waiting for the credit. However, for cash pickups, there is some information you need for the agent to verify your identity and give you the cash.

• Your government-issued ID
• The transaction number- In the case of Western Union, the number is called the Money Transfer Control Number (MTCN). For MoneyGram, you’ll fill in the number when filling out the simple form they will give you