Bank Account in Euros - Is it possible to negotiate exchange rates to zloty with a Polish bank?

Hey there, Has anyone ever tried to negotiate exchange rates with a Polish bank
when trying to exchange a large amount or Euros or other currency ?
I have a Euro account with my Polish bank and want to try to negotiate the best rate possible
into polish zloty,.

thanks! D

The most minimal level to negotiate the course with a bank is 5 - 10 thousand of euro.
Lower amounts you can negotiate in every office exchange - from about 200-300 euro and more.

i was thinking larger amounts in the 100,000 Euro range..

if so, which Polish banks are the best for negotiating a good rate ? ING Bank, mBank, Bank Pekau, Deutsche bank ?

Negotiate with them all, ask for the final price, then gather results and choose the best option.

ok thanks, will try that ; ) just looking for someone who has already done this and can report the results ? :)

I've tried Mbank and they finally have come back and said they can offer preferential rates. They robbed me on my first few exchanges so now are chasing business.

I've taken my business to a private Kantor that gives MUCH better rates than Mbank ever offered, I also have a business partner that says in his experience Alior Bank offers the best Bank exchange rates.

ok thanks! i'll ask Allior bank about their rates.

Suggest using Transferw ise - created by the guys who created Skype apparently, and backed by Richard Branson. I've used it 30 times over the past 18 months and found rates very good. Also quick convenient and very easy to do online. You do need a bank account in both countries though.

Some people point out the risks of doing transactions with such companies. This one I'd say is fairly safe, but check out their web site as this is one of the FAQs.

I've also used Cinkciarz, which also seems pretty good.

Using these online platforms resulted from frustration with using Citibank Handlowy. Even after fierce negotiation on fairly large transactions they still gave me bad rates, and I had simply had enough,

Thanks for the replies, if you have a very large amount, would i then just carry a briefcase to the Kantor's office ?
Seems a bit risky carrying that much money in a briefcase......?

Merged: Has anyone carried large amounts of Euro cash from Bank to Kantor to get better rate?

Has anyone carried large amounts of Euro cash from Bank to Kantor to get better rate?

i need to transfer a large amount from Euro to Zloty PLN, and the banks don't give a good rate,
Kantor gives better rate,........

thanks for any advice

It is better to be careful and do not go alone in the case of larger amounts, It's more safe to separate transaction for a few exchange offices and smaller amounts. Anyway it's worth the trouble, since bank rates are lower.

Other option worth considering would be exchange office online. I used one couple times without any problems (although amounts were much lower than yours), it's convenient, you don't need to carry the money nowhere, the rates are better comparing to any local bureau and it's safe in my opinion (sums more than 5.000 are also negotiable)

The site below compares rates of online exchange offices (put amount of money, currency, and name of your bank):
kantorbox.pl/kursy

Watch them like hawks when their counting the cash and make sure the cash counter machine is calibrated correctly. Also, i never liked to tell them in advance when i would be making a transaction - too easy to get robbed.

I always used to wonder why there wasn't more crime surrounding these Kantors, way easier than robbing a bank.

K thanks!

i guess not many people here exchange money...

Why can't you just negotiate with different banks to get a better price?
Anytime I've tried that I've been fine and have gotten a better rate that the original offer.

Use walutomat.pl for money exchange. Only condition is that you need to understand Polish, because the website doesn't have English language and have eur and pln bank account in one of the banks: PKO BP, PEKAO S.A., BZ WBK, BRE Banku, Banku Millennium, Alior Banku, ING Banku Śląśkim. They charge around 0,001% of converted money (discount over 200 000 PLN per month).

If you don't have account there or want to do it faster or don't speak Polish, then check rates of this online cash exchange service: cinkciarz.pl. Walutomat has little better exchange rates which you can see here: walutomat.pl/kursy-walut

Click on the bottom left "Wymiany w Walutomacie" in order to see how real exchanges differed from forex rate. They will be marked with dots.

I've used Walutomat couple of times, they charged me 0,2% from a transaction.

Recently I've noticed wymieniajtaniej.pl site - they clam that they won't charge me if I have account in one of the following banks:


There's also option for negotiation:
wymieniajtaniej.pl/48,usluga-telekurs.html

you're right it's 0.2% which is 0.002 * converted amount. I wrongly remembered that it's 0.001 times value.

Merged: Conversion of Zloty to Euros, which Kantors would negotiate on the rate?

Hi, i need to convert a big amount of Zloty to Europe (20000), are there some Kantors that will give me a good rate considering that it is huge amount? Which Kantors in Warsaw are pen to negotiations.

Thanks,
Raunak

yes go to conti kantor.pl and intraco kantor.pl they have diff rates posted there than on there boards.you can monitor there rates on your phone.

and 20k is not a big amount for kantors.I convert 30k $ everytime and I get the rate posted on there websites.

DO YOU KNOW,AS A FOREINER I GOT A LETTER FROM RAIFAISEN POL BANK,WHERE I HAVE MY NORMAL AND EURO ACCOUNT,REQUSTING ME TO FILL A FORM WHICH ASK MY LAST SIX YEARS OF TAX DECLARATION.( ,DETAILS ABOUT THE COUNTRY,CITY AND ADDRESS),I ASK THE WORKER .HE TOLD ME TAX DEPARTMENT REQURES THIS,I ASK TAX DEPARTMENT THEY DONT KNOW ANY THING.I DONT KNOW WHAT THE **** IS THIS.I AM GOING TO CLOSE THE ACCOUNT THERE,IN THERE

HEAD OFFICE AT WARSAWA UL.PIEKNA 20.I AM A CUSTOMER OF MORE THAN TEN YEARS THERE.IS THIS A BANK OR TAX DEPARTMENT.HERE IS A WORKER CALLED "M" WHO DOES NOT KNOW HOW TO TALK DECENTLY,HOW BANK KEEPS SUCH PEOPLE AS WORKER.

First of all, do not shout.

I also do not understand that, unless you really have some problems with unpayed taxes. Then the treasure office could turn out to the bank to lock your account, or to do whatever so that you pay these taxes.

If you are OK with taxes - it's really strange and it seems to be a good idea to resign from their services.

I agree with kpc21. They would freeze the account if they believe you owe money.

This is just because they want to make checks and it may well be a good time to change banks.

Merged:

Сurrency exchanger - euro to pln with good rate in Poland

Hello to all,

Can you please give me an advice where I can exchange euro to pln with good rate?

Thanks in advance!

or is it better to exchange usd to pln?

I tried Rkantor.com recently and they are offering better rates than the Kantor shops in the city.