Timeline for Expenditure in Poland - Forex Card doesn't have Złoty
Current License: CC BY-SA 4.0
14 events
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Nov 25, 2019 at 12:15 | history | edited | Mikael Dúi Bolinder | CC BY-SA 4.0 |
corrected the spelling of Złoty
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May 29, 2019 at 11:29 | comment | added | Artur Biesiadowski | There is a good chance that Polish sites you have browsed are internet exchanges, rather brick-and-mortar ones. Online exchange is indeed quite favorable (spreads are below 1% and no hidden transaction costs apply). Checking some random 'real' exchange point gives me (for EUR) 4.23/4.38 for small exchanges and 4.28/4.33 for ones above 500EUR (which is around 3.5% or 1.1% spread accordingly). In general, if you want hard currency, exchange money in Poland, but do it in the city, not at the airport or train station. Obviously, only use real exchange points, no random people ;) | |
May 29, 2019 at 10:28 | comment | added | Juan Jimenez | @HenningMakholm Some issuers don't care nearly as much, particularly the ones with prepaid Visa or MC debit cards. Almost no one reads their full agreements for use of the card, and often the small text comes back to bite the customer. Also, not all countries enjoy the consumer protections the EU gives to its citizens. And random merchants never care about repeat business? That's quite a stretch. :) | |
May 29, 2019 at 10:19 | comment | added | hmakholm left over Monica | @JuanJimenez: The issuer wants to retain you as a customer. If they started charging more than they claim on their own fees page, there's a high chance that you would leave them (and posssibly report them to a relevant authority for false advertising). A random merchant knows that it's unlikely a tourist customer would come back anyway and can expect absolutely no repercussion for marking up their rates by, say, 10%. | |
May 29, 2019 at 10:15 | comment | added | Juan Jimenez | @HenningMakholm Trusting the card issuer when you don't have a balance in that currency may be just as sketchy. :) | |
May 29, 2019 at 10:14 | comment | added | hmakholm left over Monica | @Zibelas: That will make the conversion at whatever rates the merchant or their processor sets, which are usually horrible. The usual advice is to always make the transaction in the local currency as far as the card is concerned and have the card issuer convert. | |
May 29, 2019 at 10:11 | history | edited | hmakholm left over Monica | CC BY-SA 4.0 |
added 768 characters in body
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May 29, 2019 at 10:09 | comment | added | Zibelas | @JuanJimenez The terminal itself has sometimes (not all terminals offer this) the option you can choose from in which currency you want to pay. Usually it is your card currency and the local currency, just different rates apply. | |
May 29, 2019 at 8:49 | comment | added | Juan Jimenez | This is actually a very good point. But if you don't have a balance in a particular currency, who decides which currency to use for the conversion? The plot thickens. :) | |
May 29, 2019 at 8:41 | vote | accept | Rutwick Gangurde | ||
May 28, 2019 at 11:48 | history | edited | hmakholm left over Monica | CC BY-SA 4.0 |
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May 28, 2019 at 11:30 | comment | added | Rutwick Gangurde | Thanks for the detailed answer! So I am guessing using it as a regular card should work, right? | |
May 28, 2019 at 11:06 | history | edited | hmakholm left over Monica | CC BY-SA 4.0 |
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May 28, 2019 at 11:00 | history | answered | hmakholm left over Monica | CC BY-SA 4.0 |