Millennium Bank is a banking institution that offers international money transfer services. The bank allows customers to send money to bank accounts in different countries around the world. International Bank transfers are a convenient way to send money quickly and securely to family, friends, or business partners in other countries. Millennium Bank is a reputable and reliable financial institution that offers a range of financial services, including international transfers, to meet the needs of its customers.
| Bank Name | Bank Millennium |
| Headquarters | Warsaw |
| Founded on | 7 June 1989 |
| Product | Financial Product |
About Millennium Bank
Millennium Bank is a banking institution that was founded in 1989 in Greece. The bank operates in multiple countries, including Poland, Romania, Bulgaria, Serbia, Ukraine, Russia, and Cyprus.
Millennium Bank offers a range of financial services, including personal and business banking, investment banking, asset management, and insurance. The bank also provides online and mobile banking services, making it convenient for customers to manage their finances anytime, anywhere.
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Cost of Sending Money Internationally
The Millennium Bank international transfer cost depends on where you are sending money from and to. It will determine how much it will cost to send money internationally with Millennium Bank.
For pricing on your money transfer, please see the information given below:
Millennium Bank Exchange Rate
The GBP to PLN exchange rate at Bank Millennium as of May 13th, 2021 is 5.022, while the EUR to PLN exchange rate is 4.322. It is essential to check the Bank’s conversion rates before sending money abroad because these change daily, just like all other foreign currency rates do.
A 5.0% exchange rate margin applies when sending money abroad with Bank Millennium. As a result, if you send 100 PLN to a bank overseas, your beneficiary will only receive 95 PLN.
Millennium Bank Transfer Fee
The cost of an international transfer with Millennium Bank international transfer can vary depending on the destination country, the amount of the transfer, and any additional fees or charges.
It is always a good idea to ask about the fees upfront and compare the costs with other transfer options before making a decision.
Pros and Cons of Using Millennium Bank
| Pros | Cons |
| Convenience – Bank Millennium account holders can effortlessly transfer money via TeleMillennium, Millenet, or MilleSMS from the comfort of their home or place of business without having to put in a lot of work. | Cost– Bank rates are typically less competitive when it comes to money transfer than those utilized by money transfer companies which typically offer the lowest exchange rate and cost. |
| Pre-filled transfer forms – Since you already have an account, some of the form’s fields will already have the necessary data filled in. This can include the account number or the recipient for frequent transfers. | Longer Wait Period- Comparing banks to other money transfer companies, banks’ money transfers can also take longer. This is because the funds pass via other banks that act as intermediaries. |
| Recipient History – The programme can also save your most recent recipients’ data, which can save you a tonne of time compared to starting from zero on every form. |
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How to Transfer Money?
To make a Millennium Bank international transfer, you will need to follow these steps:
- Visit your local Millennium Bank branch and inform them that you would like to make an international transfer.
- Provide the bank with the necessary details of the recipient’s bank account, such as the recipient’s name, account number, and the bank’s SWIFT code.
- Provide the bank with the amount you wish to transfer and the currency you wish to send.
- Millennium Bank will then provide you with the current exchange rate and any fees associated with the transfer.
- Review and confirm the details of the transaction, including any fees or exchange rate differences, before authorizing the transfer.
- Wait for the bank to process your transfer, which can take up to several business days, depending on the destination country and bank.
- Once the transfer is complete, you should receive confirmation from Millennium Bank and the recipient’s bank that the funds have been received.
Must Read: What is SWIFT Wire Transfer?
Transfer Limit
Millennium Bank’s international transfer limit changes depending on the customer segment.
- The daily transfer cap for people and Prestige customers is 10,000 PLN.
- The daily transfer cap for the private banking client category is 50,000 PLN, while the daily transfer cap for the Biznes customer section is 20,000 PLN.
Transfer Time
The Time of Millennium bank international transfer Under the Express Elixir system transfers to other Bank Millennium accounts and other banks are completed instantly.
However, it may take 5 to 7 business days for an international money transfer to fully appear on the recipient’s account.
Customer Service Details
Helpline at 801 331 331 or +48 22 598 40 40
FAQs
Ans. The SWIFT code is a unique identifier for a specific bank and is used to identify the bank in international transactions. You will need the SWIFT code for the recipient’s bank to ensure that the funds are sent to the correct account.
Ans. The processing time for an international transfer with Millennium Bank can vary depending on the destination country and bank. In general, it can take anywhere from 2-7 business days for the funds to reach the recipient’s account.
Ans. The cost of an international transfer with Millennium Bank can vary depending on the destination country, the amount of the transfer, and any additional fees or charges. It is always a good idea to ask about the fees upfront and compare the costs with other transfer options before making a decision.
