Traders deposit funds (PLN or BTC) to the site and then place orders to buy and sell. Bitomat acts as an escrow.
Funds are credited after each transaction immediately to accounts wherein they can be withdrawn off-site.
Usually it takes just a few minutes to transfer PLN from/to bank account (as long as its mBank bank account).
The exchange went online on April 4, 2011.
The exchange went offline on July 26th, 2011 and on July 31, 2011 the site returned but carried the message that a system failure occurred: "all data stored has been lost!, Including records concerning bitcoin portfolio and its backups (backups)". Additionally, the message contained the solicitation: "Www.bitomat.pl service is on sale". A few days later the site reopened and trading resumed.
The service was acquired by Mt. Gox on August 11, 2011.