Poland Introduces New Banking Rules: Banks to Verify Customers’ Existence After 5 Years of Inactivity

The Sejm, Poland’s lower house of parliament, has passed an amendment to its Banking Law, introducing new obligations for banks to protect dormant accounts. Under the updated regulations, financial institutions are required to verify whether account holders are still alive if no transactions are made for five years. This requirement will be fulfilled using data from the national PESEL register, a centralized system containing personal identification information.

The new law aims to address inactive accounts, providing an extra layer of oversight and safeguarding unclaimed funds. Significantly, if a customer holds multiple accounts at the same bank, the five-year period of inactivity will only come into effect if no activity occurs across all their accounts. For instance, a transaction on one account will reset the inactivity clock for all accounts held by that individual.

The regulations also extend to accounts whose contracts have ended. Suppose a client fails to provide instructions regarding the funds in a fixed-term account after the contract expires. In that case, banks will now be required to perform a verification check through the PESEL register three months following the account’s expiration.

These provisions are part of a broader deregulation initiative spearheaded by Poland’s Ministry of Finance to modernize financial laws and enhance consumer protections. By ensuring dormant accounts are regularly checked, the government aims to prevent funds from being forgotten or falling into legal limbo.

This legislative update highlights the Polish government’s commitment to increasing transparency and accountability in the banking sector while prioritizing customer welfare and access to unclaimed funds. Financial institutions will now play a more active role in monitoring and managing dormant accounts to ensure proper handling.

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.