PLN to GBP - how to get the best possible rate for over 100K zloty?

Hi

I recently sold a house in Poland and wish to get the best possible rate for approx 130,000 Zloty. How do I do that?

Thanks

take it to the kantor in cash and get best rate.Check out conti kantor.pl.

Yeah, right, just the amount they keep in the cash drawer!

In fact most larger kantors (google one in Warsaw or your nearest big city) can do larger amounts by prior arrangement. Shop around though.They usually provide you with a security guard to escort you to the bank.

Alternatively, get quotes from WorldFirst and Transfer wise (I use WorldFirst). They deal with large forex conversions and generally give the best rates. They are both established companies with an impeccable reputation and UK based, The second of them is part owned by Sir Richard Branson.

If you are coming back to England with sterling, you must remember about the border controls. Check how much cash you are allowed to take out of Poland and how much you are allowed to bring to the UK. Also have copies of all the documentation regarding the house to prove that the money is genuine and not from any money laundering schemes or something illegal. They may stop you and ask. Be wary!!!

@ Terri, that would apply if he would travel to the UK from outside the European Union. The cash limit then would be 10k EUR.
I am not aware of any limits when travelling within the EU.

It's the same either way - you have to declare amounts over 10,000 Euros or its equivalent in another currency - the OP would definitely need paperwork.

He has 3 choices, risk it (which could mean confiscation for not declaring it - a friend once brought about 70k gbp in his pockets to Poland once however I really don't recommend this), declare it and make sure he has at least the paperwork you mentioned, possibly more, translated into English (ideally by a sworn translator) or use one of the two currency agents listed above who will convert it and transfer it to your bank account in a day. People speak well of transfer wise and world first (which I use for my salary) I can confirm is excellent.

I tried to edit but slow internet where I am right now. I wanted to add that the penalty for incorrect or incomplete paperwork is potentially confiscation of the whole sum...

Yeah, right, just the amount they keep in the cash drawer!
Jon wake up! i have cashed double that amount at a time go verify yourself.keeping 30k US$ or more is a normal trend in reputable kantors,OH I forgot you kind cash only 100$ or more so wont know what goes on in real market in Poland.

Sorry for OP i forgot to add you can deposit the money back in your pound acct and wire it to your uk account.

You've cashed over 260,000 PLN at a kantor?

No, most kantors do not keep that amount of Sterling in their office, however you'll have noticed (or maybe not) that I did say that they do it by pre-arrangement. That would be necessary anyway unless the OP wanted to wander the streets and wait while the people in each office phoned their boss to get a quote for that amount.

Personally, I find that even for larger amounts one of the brokers above gives a better rate - they are large currency brokers trading many millions every day and give very close to the market spot rate.

By the way, how would you know, Itsy Bitsy/Pigsy/MoOli/Deepak/Mooselimb etc. how much I cash, especially since we've never met.?

By the way, how would you know, Itsy Bitsy/Pigsy/MoOli/Deepak/Mooselimb etc. how much I cash, especially since we've never met.?
Cuz I have been cashing and know 2 kantors,Intraco and Conti where I never had problems doing that and your knowledge about them shows what you know.

Nice to know, however some here have almost certainly been doing it for longer and for larger amounts. I recommend a UK currency broker for a better rate and a safer service - the two I mentioned are both good.

the two I mentioned are both good.
To update you both the kantors have a seperate secluded room on the left which after with eye contact or signal to go to that room signals that you have large amount to exchange and they will open that room for you and you can lock the room from inside to complete your transactions.To unknowns they will make you fill out a form with identification for every transaction over 10 or 12k euros, i forgot.

Sounds sleazy.


And they don't for their 'regulars'??

Seriously, why make 'eye contact' or a 'signal' and creep into a 'secluded room' (does it have a bead curtain?) when you can do it all quickly and efficiently (and with a better rate) using a mainstream foreign exchange broker?

Seriously, why make 'eye contact' or a 'signal' and creep into a 'secluded room' (does it have a bead curtain?) when you can do it all quickly and efficiently (and with a better rate) using a mainstream foreign exchange broker?

mainstreet broker will not give 1/4 a grolsh over the current rate then they too charge 1/2 a grolsh minimum to regulars.

That's just nonsense. I suggest the OP checks out the various rates from the two online brokers I mention (I think they're the largest and best known of the British ones, but there are also others) and also if he wishes carries it in cash to your kantor friends, makes 'eye contact' or gives a 'signal' (I'm intrigued what sort of signal, a wink, a furtive gesture, a brush of the hand about the crotch?) and goes into the 'secluded room' to a man who doesn't insist that his regulars 'fill out a form with identification '. At least the banknotes he gets will be nice and clean, having just been laundered.

Jon, that only applies if the OP travels to the UK from outside the European Union. Same as if he was trying to leave the European Union, he would have to declare it.

Seeing that the OP will be the travelling from Poland to the UK (inner EU travel) the 10k EUR rule does not apply.

That's how it was until 2012. Now it applies to internal borders too. You can still take above 10k in cash however you do have to provide the correct documentation or risk it being seized.

Do you have a link to the new regulation where it says that the same rule applies when travelling between two EU member states? The link and quote you posted points out the non-European Country rule


I am not aware of the change from 2012 so it would be quite interesting. It would also be a step back in our freedom of travel and movement of goods within the EU.

Looking at it again, Poland and the UK have exemptions, however when I checked earlier there were a couple of sites that disagreed with that. Better to be safe than sorry.

Same website as the link Jolly, different bit. Better to discuss in random, since it's close to going off-topic however in any case, the best rate (and the best way) is to do it by transfer via an established broker.


ec.europa/internal_market/capital/faqs/index_en.htm

Speaking from personal experience, if you contact Conti and ask about exchanging 100,000zl's worth of Euro into zloty, they'll suggest meeting in your bank. Can't see why they wouldn't suggest it while changing the other way too.

I certainly wouldn't change up too much at the moment. Wait for the GBP to weaken or the PLN strengthen a bit.