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TRANSFERING MONEY IN CAD - BEST EXCHANGE RATES? WHICH BANK?


Maluch 30 | 95
9 Nov 2013 #1
Czesc... I want to transfer in about 200,000zlotych (in Canadian funds of course)

Can anyone recommend which Bank offers the best exchange rates? i'm seeing up to a 20,000zlotych loss from my own canadian bank just in the poor exchange rate
Tamarisk
9 Nov 2013 #2
In my own research I have found Nordea Bank to be good for USD, so you may want to check with them. They offer free incoming transfers. And the branch in Bielsko Biala has an English speaking manager, which is always a plus.
Bassem - | 22
10 Nov 2013 #3
i believe if you have Canadian bank account (RBC, BMO), you will have good rate from bank.
Monitor 14 | 1,820
10 Nov 2013 #4
When the amount is bigger, then I think the best is to open CAD account in Poland. Transfer CAD from Canada to Poland without any currency conversion and there exchange money in some Kantor, for example cinkciarz.pl

Deutsche Bank has CAD account: deutschebank.pl/klienci-indywidualni/konta/konto-walutowe.html
OP Maluch 30 | 95
13 Nov 2013 #5
thanks guys - Monitor has the correct answer! i haven't been to deutsche bank but will go there.

the exchange rates - CAD - to PLN in canadian banks are just awful.

better to bring here in CAD then get a kantor to do exchange at a reasonable rate... 2.95 as of today (vs. 2.61 at TD.....

So to answer my own question... Deutsche Bank turned out to be the winner! Very fast transfers I was shocked.... I had 2 sent... first one arrived literally next day.. Next one was closer to weekend so took about 2 business days.. Sent friday arrived tuesday?

Now beware... once the money is in the account then you have to transfer it out to be able to use it. Cost is about 250zl I believe per transfer.

...but who will take the money? I shopped quite a few Kantors... one had decent exchange.. but his Raifessen bank limit was $20,000 CAD to receive per day... so multiple transfers.... 250zl each... could add up.

I'm sure there are other options though (which I found ;)
Monitor 14 | 1,820
1 May 2014 #6
How much would cost taking cash from the bank and delivering it to Kantor in person?
Monitor 14 | 1,820
2 May 2014 #8
No. Of cash withdrawal. Is it free?
Dont gag me yo 7 | 156
2 May 2014 #9
with citibank handlowy one can transfer anymount in one transaction from the states atleast,then to withdraw i think was 12k euro a day or by signing a form for tax department any amount above 12 k euro or equilent

yes the withdrawl from citibank was free for me i withdrew 12 k euro everyday to cash at kantor
Monitor 14 | 1,820
2 May 2014 #10
i withdrew 12 k euro

I know that they shouldn't, but perhaps they threat CAD differently and charge for withdrawing them.
OP Maluch 30 | 95
6 May 2014 #11
Deutsche bank treats CAD very differently - you can't withdrawl the physical money! it may be CAD account but you can only transfer or convert the money in and out, you can't ever withdraw cash.
novak
21 Jul 2015 #12
the best is through Transfer Wise.. if you sign up on this link the first transfer up to 10,000 PLN is free, and if you want to transfer more you get a discount of around 100 PLN.
Harry84 1 | 80
4 Feb 2016 #13
yes transfer wise is good option to transfer money with current market price.
jon357 69 | 18,445
5 Feb 2016 #14
transfer wis

Try WorldFirst; I've used both and found that WorldFirst gives a better rate and has a much easier portal.


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