PTFIPLPWARA

Payment Instructions

General instructions for international payments to banks in POLAND:

Overview

Information provided by the Beneficiary: Remitter should obtain all required bank information from the Beneficiary (e.g. SWIFT BIC, IBAN, and beneficiary bank address).

Central Bank: For additional information, please refer to www.nbp.pl.

Country Requirements/Restrictions

Currency & Clearing Information: Poland is a member of the European Union (EU) and is adopting the payment practices of the European Union. However, the country has not adopted the euro.

Account Restrictions: Residents and non-residents are permitted to open and maintain domestic or foreign currency accounts either locally or abroad. However, residents can’t convert their domestic currency into foreign currency.

SEPA: Strict formatting standards and SEPA guidelines exist in Europe regarding cross-border payments. IBAN and SWIFT BIC are required for all euro payments. SEPA standards apply for euro payments to beneficiaries with accounts in Poland. SEPA standards do not apply for Polish zloty payments.

Payment Formatting Rules for PLN

• Ordering Customer (SWIFT MT103 F50): Include account number, full name (no initials), and address of the ordering customer. Use of initials can delay receipt of funds by the beneficiary.
• Beneficiary Customer (SWIFT MT103 F59): Include account number (IBAN), full name (no initials), and address of the beneficiary customer. Use of initials may delay receipt of funds by the beneficiary.

Use of IBAN numbers is highly recommended. If IBAN is not provided, there is a high risk the payment will be returned. IBAN is required for all EUR payments subject to SEPA standards.

In Poland, for SWIFT transfers include the SWIFT BIC with the branch identifier (if required), full name, and address of the beneficiary bank. The SWIFT BIC is 8 or 11 alphanumeric characters: xxxxPLxx or xxxxPLxxxxx. It is recommended to state the purpose of payment. For tax payments, include additional details such as NIP (Numer Identyfikacji Podatkowej) or REGON (Rejestr Gospodarki Narodowej), the period the payment covers, and the kind of tax being paid.

IBAN: In Poland, the IBAN consists of 28 characters. It starts with the country code 'PL', followed by a two-digit checksum and the national account number, which includes the bank account number and other details. The format includes 8 alphanumeric characters followed by 16 numeric characters. An example of electronic format is PL12345678912345678912345678, and the print format is presented as PL12 3456 7891 2345 6789 1234 5678. The use of IBAN is highly recommended, especially for EUR payments, as per SEPA standards.

Correspondent Banks

Standard Settlement Instructions (SSI) contain the list of correspondent banks of PKO TOWARZYSTWO FUNDUSZY, INWESTYCYJNYCH SA for each currency.

Payment Tracking

To track a SWIFT cross-border payment to or from PKO TOWARZYSTWO FUNDUSZY, INWESTYCYJNYCH SA, you need a UETR code, reference number, amount, payment date, and currency. This information is typically found in an MT103 form.

Other Branches

Disclaimers

We are doing our best to demystify cross-border payments, however TrackMySwift is not responsible for any delays or losses related to usage of the information and services from our web site. Please contact your banks to receive a safe advise. Country-specific payment instructions have been prepared based on Global Wires Payments Formatting Requirements Guide from J.P.Morgan.