In fresh months Polish banks have introduced new regulationswhich may consequence in blocking accounts and halting transactions customers. These amendments aim to increase financial safety and to comply with existing legislation.
One of the main reasons for blocking accounts is no update of individual data by customers. Banks regularly remind of the request to update information, specified as address of residence, ID card number is tax residence status. Failure to comply with this work may lead to temporary account lock.
Another reason is suspected money laundering or Financing terrorism. Under the anti-money laundering (AML) legislation, banks are required to monitor transactions and verify client income sources. If suspicious operations are detected, financial institutions may block the account until the case is resolved.
New regulations in banks
Since January 2025 mBank, 1 of the largest banks in Poland, introduced changes to the regulations that let blocking accounts, mobile application and transaction where it is suspected that they are being utilized by 3rd parties. The blockage will stay valid until the client confirms his identity, which aims to defend the funds from fraud.
Similar actions are taken by another banks that introduce verification procedures and monitoring of transactions to guarantee the financial safety of customers.
How do you avoid blocking your account?
To minimize the hazard of blocking an account, it is worth following respective rules:
- Regular update of data: Make certain all information in the bank is up to date. If you change your address, telephone number or ID, delight inform the bank immediately.
- Response to bank messages: If you receive a request for additional papers or explanations about the transaction, respond rapidly and supply full information.
- Monitoring of transactions: Regularly check the past of operations on your account and contact the bank immediately if you announcement unauthorized transactions.
- Avoidance of suspicious transactions: Be careful erstwhile dealing with unknown entities or persons. If you are planning bigger deposits or withdrawals, delight inform the bank and prepare for any questions about the origin of funds.
If your account has been blocked, the first step should be contact with the bank to explain the origin of the blockade. The Bank may ask for additional papers confirming the identity or origin of the measures. Working with the bank and providing the required information rapidly can accelerate the process of unlocking the account.
If the account is blocked by action National taxation Administration (KAS)The procedure may be more complicated. KAS has the power to block bank accounts in the event of suspected engagement in taxation carousels or another financial irregularities. In this situation, it is recommended to consult a lawyer specialising in taxation law.
New regulations in Polish banks aim to increase financial safety and to prevent financial crimes. Customers should be aware of the applicable rules and actively cooperate with banks in order to avoid unpleasant situations related to the blocking of the account. Regular data updates, transaction monitoring and fast consequence to bank communications are key measures to aid keep full access to funds.
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Banks tighten control: fresh rules for blocking accounts and transactions
