Electronic cash withdrawal

About the product

ECW is a product, which will allow you to settle liabilities even if you do not know the beneficiary's account number.

An ECW ordered via Millenet instructs the Bank to make a cash payment of indemnification, scholarship, advance, loan or remuneration to the person identified in the instructions. 

Selecting one of the four types of withdrawal you yourself decide when to put money on the account for the order to be accepted for execution and during what period the withdrawal is to be available to the beneficiary.

Benefits:

  • You do not have to keep a cash desk or keep a cash reserve.
  • You can pay liabilities not knowing the beneficiary's account number.
  • You can decide yourself when to put money on the account for the planned withdrawal, selecting one of four types of orders.
  • Place orders in a safe and comfortable way using the Millenet system ― you do not have to issue any paper documents, such as a cheque, payment instructions or postal money order.
  • The withdrawal may be available in any Millennium branch in Poland  immediately after the order has been placed.
  • You can always follow the status of the individual order. 

Scheme

schemat

Channels of access to product information

Internet

Wherever you are, with internet access, you can check account balances and history on a 7/24 basis, also viewing information concerning other products i.e.: cards, loans, guarantees and letters of credit, standing orders or term deposits.

Corporate Branch

Get detailed information about Bank Millennium products by contacting Advisors in the Corporate Banking network.

Contact with Advisor


By phone

Our Consultants will provide you with detailed information and will carry out your instructions. 

801 31 31 31
line available for fixed-line and mobile calls

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Settlement account

Effectively manage financial flows in a company and benefit from the Bank's comprehensive product range.

Questions and answers

  • 1. What does it mean that the Bank offers four types of ECW orders?

    Choosing one of the four ECW types the Customer will decide when to provide money on the account for the order to be accepted for execution.

    • Type W1 ― the order will be executed under the condition that the Customer, at the time of making the withdrawal by Beneficiary, provides funds permitting the withdrawal to be made. If funds are insufficient the withdrawal will not be made.
    • Type W2 ― the order will be executed under the condition that the Customer, at the time of activation of the order, provides funds permitting the withdrawal to be made. The amount will be automatically blocked from order activation. If there are no available funds at the time of order activation, the order will be rejected by the Bank.
    • Type W3 ― the order will be executed under the condition that the Customer, at the time of placing the order, provides funds permitting the withdrawal to be made. The amount necessary to make the withdrawal will be automatically blocked from the moment of entry of the order in the system.
    • Type W4 ― the order will be executed under the condition that the Customer, at the time of activation of the order, provides funds in an amount permitting the withdrawal to be made. On the day of activation the withdrawal amount will automatically debit the Customer's account.
    Note! Irrespective of the type of order, funds to cover the fee for submitting ECW order through Millenet are blocked when the order is placed. This fee is collected upon order activation.


  • 3. Can an ECW order be placed and/or paid in a currency other than PLN?

    No. An ECW order can only be placed to an account kept in the Bank in PLN and will be paid in the same currency.

  • 4. Must I fill-in some documents or sign an agreement on this service to start placing ECW orders?

    No. The product is available to every Customer via the Millenet system ― it is sufficient for the managing person to grant user rights to ECW.