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Do banks in Poland accept bank drafts issued by a foreign bank, in Polish Zloty?


yash_ch 1 | -
14 Mar 2016  #1
Hey everyone, I'm moving from Canada to Poland in April and looking at inexpensive ways to transfer funds.

I've heard its impossible to get a bank draft processed by Polish banks, but is it also true for drafts issued in Zloty (instead of USD?) My bank in Poland will be ING - if that helps.

Also, do Polish banks directly accept wire transfers or they do so via an intermediary bank (a third-party)?

I'm open to other suggestions as well! Thanks in advance!
Chris R 1 | 34
14 Mar 2016  #2
Polish banks will accept foreign checks but only with great difficulty and processing fees. (I sent a check once to my Polish lawyer and he requested that I not do so again due to the hassle with the bank.) An international bank wire is the way to go. The European banking system doesn't have intermediary banks like the U.S. which charge additional fees for bank wires, although the receiving bank might well have a fee. Take a look at opening an account with Ailor bank, since it is foreigner friendly.
Cardno85 31 | 976
14 Mar 2016  #3
I have recently been using Poland transfer. Never had a problem with them and the commission there has been as low as I've seen. I've not transferred huge amounts of money so not sure if those fees go up when you are moving large amounts.
porky pok 2 | 127
14 Mar 2016  #4
Dont know about Canda but from USA you can wire six figures for less then 140$.Checks take almost 2 months to clear plus bank fee is astronomical and can even take longer if there are holidays.
TheOther 5 | 3,706
15 Mar 2016  #5
from USA you can wire six figures for less then 140$

You will still have to pay the fee for the conversion from US$ to Zloty, which can be significant for larger amounts.
porky pok 2 | 127
15 Mar 2016  #6
Not if he has or opens an account in US $ in POland and then exchanges the money in PLN by looking around for better rates which are usually in kantors or by banks for businesses who deal with foreign exchange like importers etc..
TheOther 5 | 3,706
15 Mar 2016  #7
Does it really matter on which side of the pond he will pay the fee? The banks in Poland will rob you the same way as the American ones.
Chris R 1 | 34
15 Mar 2016  #8
He would also need to transfer money into the bank account in dollars. That is an important point, and not all banks permit that. Otherwise, there might be a double conversion.

Not if he has or opens an account in US $ in POland and then exchanges the money in PLN by looking around for better rates which are usually in kantors or by banks for businesses who deal with foreign exchange like importers etc..



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