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What's the best way to transfer £20,000 into PLN


papieza 5 | 25
9 Aug 2011 #1
Hey,

I'll be moving to Poland in October and was wondering if anyone could give me advice on the best way to transfer £20,000 into PLN. We have a PKO bank in London could I put it in there and withdraw it in Poland?

Thanks
Wroclaw Boy
9 Aug 2011 #2
We have a PKO bank in London could I put it in there and withdraw it in Poland?

You'll need to open a sterling account if you dont already have one with PKO. Once you arrive in PL you could exchange it with whoever is offering the best exchange rate.
convex 20 | 3,978
9 Aug 2011 #3
Ask PKO what kind of deal they can make you. If it's the same as the kantors, take it and save yourself the hassle :)
LwowskaKrakow 28 | 431
9 Aug 2011 #4
the best way to transfer £20,000 into PLN

t I agree with Convex,take the money with you and exchange it at a Kantor, loads of Poles working abroad do that.
peterweg 37 | 2,320
9 Aug 2011 #5
Be careful, anything over £1000 can be confiscated in (anywhere) the UK unless you can prove where it came from. This superceeds the fact that you have to declare over 10k euro at the UK border. Bank statements and withdrawal slips would help.
OP papieza 5 | 25
9 Aug 2011 #6
Also, I know I can use MasterCard and Visa in Poland. But if the bank blocks my card, which they probably will, (Because i plan on spending a few 000's buying stuff for the new appartment). I'm pretty screwed.

It's crazy that I can't take my money, however I want too.
JonnyM 11 | 2,620
9 Aug 2011 #7
take the money with you and exchange it at a Kantor,

That makes sense. They shouldn't block your visa card though - I have a UK one and they've never blocked in in PL. If you use a bank machine though, never, ever, agree to the fixed rate some of them suggest. It is a scam.
delphiandomine 88 | 18,475
9 Aug 2011 #8
Be careful, anything over £1000 can be confiscated in (anywhere) the UK unless you can prove where it came from. This superceeds the fact that you have to declare over 10k euro at the UK border. Bank statements and withdrawal slips would help.

No need to declare anything at the UK border unless you're exporting it outside the EU.
OP papieza 5 | 25
9 Aug 2011 #9
That's very good to know, thank you delphianddomine I've just been looking on some .pl websites and I think I may spend some £££'s here on .pl websites and get it delivered to the apartment before we arrive. Then we can just bring the rest over with us.
morekos
12 Aug 2011 #10
Be careful, anything over £1000 can be confiscated in (anywhere) the UK unless you can prove where it came from. This superceeds the fact that you have to declare over 10k euro at the UK border. Bank statements and withdrawal slips would help.

Show me the law that says this.

Only in a totalitarian state, money over 1000 GBP in cash would be confiscated... that's completely absurd
peterweg 37 | 2,320
12 Aug 2011 #11
No need to declare anything at the UK border unless you're exporting it outside the EU.

Thats what I thought until then customs offices stopped me and interrogated me. Last time I flew I read a notice explaining that anything over £1000 could be confiscated ANYWHERE in the UK unless you can prove where it came from and that it was not the proceeds of crime.

They also said you have to declare anything over 5000 euro's when leaving the country.

As I said, take bank statements and withdrawal slips with the money. If you have any sort of criminal background you will have a particularly difficult time.

Show me the law that says this.

It was on the wall just past the security scanners at Stansted airport.

Powers of stop, search and seizure
When can the police stop and search you

The police can stop and search you without having a search warrant if they suspect you of being in possession of:-

drugs; and/or
an offensive weapon; and/or
stolen property; and/or
alcohol if you are at certain major football or rugby matches or on public transport travelling to such an event; and/or
evidence in relation to an offence under the Protection of Wild Mammals (Scotland) Act 2002; and/or
cash or the cash equivalent of £1,000 or more and that this is the result of criminal activity
fireworks that you intend to use anti-socially.

adviceguide.org.uk/scotland/your_rights/legal_system_index_scotland/police_powers_scotland.htm
OP papieza 5 | 25
12 Aug 2011 #12
Oh great, now I don't know what to do! :( this is so frustrating! It's my money. I should be able to do with it whatever I please.

I've been checking a FX company who supposedly charge a flat rate and as being I want to transfer £20,000 they gave me a quote of 1:4.72 which I know is great. But I'm worried if there is any secret charges or charges by the receiving bank.
peterweg 37 | 2,320
12 Aug 2011 #13
You can take cash, just make sure you can prove its yours. 4.72 is a good rate though. If its sent in zloty, there should be a very small charge. I get £7 on transfers from the US to UK with Barclays, thats on addition to the $20 to send and exchange rate spread.
Wroclaw 44 | 5,385
12 Aug 2011 #14
this is so frustrating! It's my money. I should be able to do with it whatever I please.

money belongs to the national bank. u only carry it.
OP papieza 5 | 25
12 Aug 2011 #15
I had to sweat my ******** off to earn it too.
Wroclaw 44 | 5,385
12 Aug 2011 #16
u are in the wrong job then
Seanus 15 | 19,706
12 Aug 2011 #17
Western Union offer quite a good service.
OP papieza 5 | 25
12 Aug 2011 #18
u are in the wrong job then

Amen! That's why I'm moving to Poland. :)
Wroclaw 44 | 5,385
12 Aug 2011 #19
was wondering if anyone could give me advice on the best way to transfer £20,000 into PLN.

i don't know if i would transfer it or all of it. it depends what it is to be spent on.

in simple terms: if i want a new computer i'll buy it in euro in germany.
Wroclaw Boy
12 Aug 2011 #20
I've been checking a FX company who supposedly charge a flat rate and as being I want to transfer £20,000 they gave me a quote of 1:4.72 which I know is great. But I'm worried if there is any secret charges or charges by the receiving bank.

I lost 8000 Euros through a FX company a couple of years ago, they went into administration whilst they had my money. A lot of get rich quick cowboys in that game. I wouldnt touch them ever again. In my experience those fcukers keep the money for a few days (making interest) then spin some yarn about Deutsche bank holding onto wire transfers over a technicality. Essentially they are LTD companies LIMITED LIABILITY, if something goes wrong they are protected by the law. Dont give your hard earned cash to them. I know a guy that was taken for £500K.

Whats the problem with depositing the money in Bank PKO in London then drawing it from PKO in Poland. If you open a GBP account you can draw GBP in Poland then exchange at a kantor or what ever - when ever you like. Thats by far the best option.

Or even just wire transfer it from a UK bank to a Polish one online, HSBC charge £17 and its there the same day, you'll obviously need to open a GBP account in your Polish bank, they all offer it anyway. Thats what i used to do.

You may need to wire it in batches of £10k to avoid the questions, im not sure.
Seanus 15 | 19,706
12 Aug 2011 #21
32,000PLN? That's a lot of money to lose, WB. I'd've been calling in some heavies. The moral of the story is keep charting your money.
Wroclaw Boy
12 Aug 2011 #22
32,000PLN? That's a lot of money to lose, WB.

yeah just that back then October 2008 it was more like 40,000 PLN.

I got a check for 300 measly quid a few months ago and may get another £800 pending other outcomes, what a joke. The insolvency company dealing with the claim charges an average hourly rate of £160. theyve had about £150k of the assets that were frozen - so far. Its legal theft, you get shafted by the company that went bust and then shafted even more by the insolvency company thats supposed to be on your side.

I'll be lucky to get £700 back in total i reckon.
Seanus 15 | 19,706
12 Aug 2011 #23
Bloody jokers! I'd be constantly on their case, insisting on them coughing up their dues. I'd look into Insolvency Law, WB. You might be entitled to much more.
peterweg 37 | 2,320
13 Aug 2011 #24
money belongs to the national bank. u only carry it.

Not true, its printed on it 'Quid Pro Pro' - it can be exchange for something of value and by definition those who hold it own a promise from the bank.

Essentially they are LTD companies LIMITED LIABILITY, if something goes wrong they are protected by the law. Dont give your hard earned cash to them. I know a guy that was taken for £500K.

Whats the problem with depositing the money in Bank PKO in London then drawing it from PKO in Poland. If you open a GBP account you can draw GBP in Poland then exchange at a kantor or what ever - when ever you like. Thats by far the best option.

Its why I have never used such a company. I would expect to be robbed if I gave a complete stranger thousands of pounds with no idea who they are and no security to protect what happens to the money.

IS it still possible to open a PKO account like you say?
Eduardo - | 3
29 Sep 2011 #25
t I agree with Convex,take the money with you and exchange it at a Kantor, loads of Poles working abroad do that.

Lwowska Krakow: craziest idea ever! What if you lose it or get robbed - S%#t happens you know. I bought a cottage in Zywiec some time ago and had to transfer large amounts of money back in the day. All in all, i wouldn't recommend Western union as their commission is to say it mildly ridiculous. Banks also take their 'share' plus their rates are not great. Personally I would use Xendpay or moneygam or other fx broker. good luck
PWEI 3 | 612
29 Sep 2011 #26
There's a simple solution: arrange for the Kantor to meet you in the bank. There's also a nice trick you can play with the bank to get a better rate than the kantor is offering.
patrick 6 | 113
29 Sep 2011 #27
I've got a dollar account in PEKAO that you could transfer it to. :)
Wedle 16 | 496
29 Sep 2011 #28
the best way to transfer £20,000 into PLN

Unless you have something to avoid, why don't you just go to Poland and open a multi currency bank account and transfer your money in.
Havok 10 | 912
29 Sep 2011 #29
you kids are so gullible, i'm sure he's gonna get a lot of PM from people offering to help. Yup, you go ahead give him your account #

LMAO
BTW Why do you let those types of threads linger around on PF?
Moose Limb
30 Sep 2011 #30
I'll be moving to Poland in October and was wondering if anyone could give me advice on the best way to transfer £20,000 into PLN. We have a PKO bank in London could I put it in there and withdraw it in Poland?

hand me in cash and I promise better service then Western Union or bank transfer:)


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