Citibank is to offer fee-free instant money transfers between accounts in the UK and Poland through a link-up with sister bank Citi Handlowy.
The Citibank Easy Account offers Poles no monthly fee for account maintenance and a Visa debit card that can be used to make purchases, and withdraw cash at 35,000 ATMs across the UK.
Accounts in the UK and Poland can be opened over the Web by filling in an online application form. Account holders can also receive information about their account balance free of charge on their mobile phones or e-mail address using the Citibank Alerting Service.
Over the past few years the demand for banking services for Poles living and working abroad has increased dramatically. According to the Polish Ministry of Finance, in 2006 Polish immigrants sent EUR4.5 billion to their families in Poland. The countries that have largest Polish populations are traditionally the US - 9 million, Germany - 2 million and the UK - 1 million.
Citi currently offers money transfers to bank accounts at Citi Handlowy from 6 EU Member States, Australia and India. In the near future the bank says it will launch a bespoke service for Poles resident in the US.