Business account for an IT contractor on B2B — multi-currency, cheap transfers

Developers working on B2B contracts in Poland have different needs from a typical sole proprietorship. If you invoice clients abroad — often in euros or dollars — three things become key: a multi-currency account, a low currency-conversion cost and cheap international transfers. A standard "free business account" can turn out expensive once you add the FX spread and SWIFT fees.

Why an IT contractor on B2B needs a different account

A typical B2B developer receives payments from a foreign client while paying costs mostly in złoty (ZUS, taxes, living). Each transaction can cost you in three places: receiving the international transfer, converting the currency to złoty (the spread), and card spending abroad. An account that is free "inside" can be costly precisely on currencies — which is why what counts is the total cost of handling your currency, not the maintenance fee.

What to look for in a multi-currency account

• A multi-currency account — the ability to hold EUR/USD/GBP balances without automatic conversion on every inflow.
• The FX spread / conversion rate — often the biggest hidden cost; the gap between the bank's rate and the market rate can exceed all other fees combined.
• International transfer costs (SWIFT/SEPA) — SEPA in euros is often free, SWIFT usually paid.
• A multi-currency card — paying and withdrawing in currency without double conversion.
• Integration with payment platforms — if you use intermediaries for foreign invoicing.

For an IT contractor the real ranking looks different from a generic "cheapest business account" — an account with a maintenance fee but an excellent FX rate can be cheaper than a free account with a wide spread.

A bank account vs a currency fintech

Contractors often combine two solutions: a business account at a bank (for ZUS, taxes and Polish settlements) and a separate currency tool for cheap conversion. This is legal and common, but understand the trade-offs: a bank gives full domestic service and simple bookkeeping, while specialised currency services often give a better rate. The choice depends on the scale of your foreign settlements. Either way, register the account you use for business in CEIDG and — if you are an active VAT payer — make sure it appears on the VAT white list.

Comparison of accounts for an IT contractor

Below are accounts suited to currency settlements — with multi-currency features or favourable international-transfer terms. Terms change; verify the current fee schedule with the provider.

Currency traps and hidden costs

• Spread instead of a fee — an account advertised as "free" can earn on the exchange-rate margin; calculate the cost on your real monthly inflows.
• Automatic conversion — some accounts convert every EUR inflow to PLN at the bank's rate; a multi-currency account avoids this.
• Double conversion on the card — paying in a foreign currency from a złoty account can be converted twice.
• SWIFT fee options (OUR/SHA/BEN) — establish who bears the costs, because it affects how much you actually receive.

FAQ

Do I need a separate currency account?

Not always — it depends on the scale of your foreign settlements. With regular EUR/USD inflows, a multi-currency account or a specialised currency tool usually lowers costs.

Which costs more: the maintenance fee or the spread?

With regular conversions the spread is often far more expensive. What counts is the total cost on your actual amounts.

Can I have a bank account and a separate currency tool?

Yes, it is a common and lawful setup. Remember to register the accounts you use for business in CEIDG.

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This content is informational and does not constitute financial advice or a recommendation. Verify terms and fees directly with the provider. We may earn a commission if you open an account through the links here.

See also: free account for a JDG · cheapest business account — ranking