Przelewy

Przelewy is a Polish word that translates to "transfers" or "payments" in English. It most commonly refers to bank transfers, a method of moving money from one bank account to another. In Poland, this system is widely used for a variety of financial transactions, including paying bills, sending money to family and friends, and conducting business transactions.

The process of making a przelew is generally straightforward. Customers can initiate transfers through their bank's online banking portal, mobile app, or by visiting a bank branch. Key information required for a przelew typically includes the recipient's bank account number (often in the IBAN format), the amount to be transferred, and a reference or description for the payment. For domestic transfers within Poland, these are often processed quickly, sometimes within the same business day.

International transfers, known as przelewy zagraniczne, follow similar principles but may involve additional details such as SWIFT/BIC codes and may take longer to complete due to the involvement of intermediary banks. The introduction of SEPA (Single Euro Payments Area) has streamlined euro-denominated transfers within participating European countries, making them function similarly to domestic transfers. Przelewy are a fundamental component of modern financial infrastructure in Poland, facilitating the smooth flow of funds throughout the economy.