N26 Bank Launches Activity in Poland

N26 Bank is a German mobile bank that has recently started operating in Poland. The company decided to expand its activity not only to Poland but also to Sweden, Denmark and Norway. November is the first month when clients may open accounts and start using their services.

The N26 bank does not have brick-and-mortar branches at all. All operations are performed by the clients with their smartphones, including account opening. During the registration process, the prospective client’s identity is verified through a video chat with a consultant and presenting one’s identity card. The N26 bank is Germany-based and will not employ consultants in Poland. That means all conversations with the consultants will be carried out in English.

The financial company offers EUR accounts for individuals as well as businesses. They also issue Mastercard payment cards. Both the standard account (for natural persons) and the payment card are free of charge. Account holders will be able to carry out international wire transfers, pay for their purchases, withdraw money from cash machines and exchange currency. The business offer is mainly targeted to the self-employed and freelancers. Security of transactions is ensured through fingertip login, push notifications, 3D Secure and three-tier security procedures.

The institution holds a banking license from the European Central Bank and clients’ deposits up to the amount of 100 000 EUR are covered by the German compensation scheme. The bank has offices in Germany, Spain and the US. The company teamed up with TransferWise and offers international transfers in 19 different currencies. Customer service is offered in English, French, German, Spanish and Italian.

N26 Bank is currently present in 22 European markets and has plans to expand its operations to Iceland and Liechtenstein later this year and the United States within the first six months of 2019. Since 2013 it has attracted over one and a half million customers. Their goal is “redesigning banking for the 21st century”.

Implications for Banking and Business

Developments in the Polish banking sector affect businesses operating in the country in several ways. Access to corporate banking services, credit availability, deposit rates, and payment infrastructure are all critical factors for companies — whether established Polish firms or foreign-owned entities entering the market.

For foreign entrepreneurs setting up operations in Poland, choosing the right banking partner is a strategic decision. Major Polish banks including mBank, ING Bank Śląski, Bank Millennium, PKO BP, and Santander Poland offer varying levels of service for international clients, including English-language online banking, multicurrency accounts, and dedicated relationship managers for corporate clients.

The Polish banking market is well-regulated by the KNF (Financial Supervision Authority) and participates in the EU deposit guarantee scheme (BFG — Bank Guarantee Fund), providing deposit protection up to EUR 100,000 per depositor per institution. This regulatory framework provides stability and confidence for businesses maintaining corporate funds in Polish banks.

If you are doing business in Poland or considering entering the Polish market, Zalewski Consulting can help. Learn more about our bank account opening services, or contact us for a free consultation.