strange situation for euro in poland

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kunalmoondra
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strange situation for euro in poland

Post by kunalmoondra » Mon Feb 22, 2010 11:59 pm

Hello all,

I am a student in Poland, and i use a prepaid EURO travel card. I have my fees deposited in the same card, the problem now is that the rates for EURO-ZLOTY(polish currency) has gone really low, i mean i get really less zloty for 1 euro. And i can only go to bankomats(ATM) which obviously gives worst rates.

i read about the EURO dispensing ATM at warsaw AIRPORT in this forum, found it motivating, but again dont know if the bank would first convert to ZLOTY and then back to EURO, if so then it doesnt make any sense for me.

I have EURO in my account. so the card i hope would be considered the same by an ATM as any euro zone card having euros in it.

Please help. I am really losing like 1500 zloty if i withdraw right now to pay my fees. And for a student its a big amount.

Any other way around? thinking of travelling to berlin just to get cash out. And then exchanging it with a local Money exchange here in warsaw. But i personally want a way out of it , not by travelling to berlin ofcourse.

Kindly help.

Regards

kunal_moondra@hotmail.com :(

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Licht & Feuer
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Re: strange situation for euro in poland

Post by Licht & Feuer » Tue Feb 23, 2010 12:06 pm

Don't know if I understand your situation right but maybe you could open an account in Germany at an international bank, that does business in Poland, too and place your Euro there.
Deutsche Bank for example has 100 branches and also ATM's in Poland - 4 of them in Masowsze and of course one of them in Warsaw. When you withdraw money then, your account will be billed in Euro but you'll receive Zloty. I guess the conversion-rate should be much better then, also the fees (if they're not free at all). As a student you'll maybe even get the account free of any fees.

kunalmoondra
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Re: strange situation for euro in poland

Post by kunalmoondra » Tue Feb 23, 2010 12:40 pm

nah, you got it wrong.

i already have a EURO account, but its not a typical account. Its with bank but only for atm withdrawal and paying at merchants. so whenever i withdraw at any atm i get zloty...and horrible rates..and i get charged in euros ofcourse.

i want to withdraw EUROS in warsaw...same as in case if i would withdraw some in euro zone...!

for example - if i use my card in germany at atm..i wil get same amount of euros..with no exchange conversion..here it poland..if i withdraw zloty i have to bear horrible rates..

so i am looking for some option which allows me to get euros from some bankomat (since i can only use that card there) just euros for euros..no double conversion.

this card is not a typical bank account..doesnt support normal banking activities!

its a thomas cook pre paid euro travel card issusd by AXIS BANK india..it is a general card which thomas cook has it in thier office for anyone who applies for it..and the staff at THOMAS cook just give that card and get it activated, in 24 hours..with the bank..so its a card which doesnt even have my name..

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Licht & Feuer
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Re: strange situation for euro in poland

Post by Licht & Feuer » Tue Feb 23, 2010 2:51 pm

Ah, okay sorry :oops:
kunalmoondra wrote:i read about the EURO dispensing ATM at warsaw AIRPORT in this forum, found it motivating, but again dont know if the bank would first convert to ZLOTY and then back to EURO, if so then it doesnt make any sense for me.
Then it would be probably the best to contact Bank BPH, which seems to be the operator of the €-ATM in Warsaw Airport, and ask them about how tehy'll handle the conversion. I'm afraid this ATM will be your only chance for obtaining Euros in Warsaw besides the regular money exchange (at least I know no other) and unfortunately the Zloty is actualy quiet strong against the Euro...

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androl
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Re: strange situation for euro in poland

Post by androl » Sat Feb 27, 2010 2:15 am

Licht & Feuer wrote:unfortunately the Zloty is actualy quiet strong against the Euro...
that's relative. In July 2008 one euro was 3.2 zloty, in February/March 2009, one euro was 4.7 zloty, and now it's back at 4.0 zloty. It's a really scary zig-zag course :roll:
http://www.ecb.int/stats/exchange/eurof ... ln.en.html" onclick="window.open(this.href);return false;

so what will be next? If the euro will go down to 3.2 again, better get your zlotych now. But you cannot know.
Joshu, a Chinese Zen master, asked a cow:
"Do you have Buddha-nature or not?"
The cow answered: "Moo."

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