If you're a migrant and you wish to send money back to your family in Poland, there are some ways of doing that. Heres a brief guide.
Best ways to make a money transfer
Online money transfer is the best way to make a money transfer to Poland. It is a quick, fast, and safe process which is also free of charge. You can also check the exchange rate to learn how much your recipient will receive.
Types of options to send money
The cheapest way to send money to Poland is through World First Money Transfer and FXCapital, both of which charge 0.7% for the service. You can also use Halo Financial and OmnisiFX Money Transfer, which both charge 1.5% for the service. Barclays Bank is also available, and it charges 5% for the service.
Restrictions on receiving money
Poland is listed among countries and jurisdictions of primary concerns when it comes to money laundering. Therefore, you may be barred from receiving money from abroad.
Restrictions on sending money
A recipient bank has been flagged, or a particular branch has been flagged due to concerns about money laundering. Also, the recipients bank account number may have been flagged for one or more reasons.
Process to send money
Its a simple process which involves filling up an online form with your name, phone number, and the amount you wish to transfer. You then need to specify which currency you want to transfer and the recipients currency. After getting an online quote, you can then provide details about the recipient.
Brief economic trend
The Polish economy is the sixth largest in the European Union. The country's GDP is projected to surpass 3% in 2017 as domestic demand increases, and growing business confidence sees investment recovering. Real interest rates are expected to be low while the EU structural funds are set to be disbursed speedily. Low manufacturing costs have made the economy more competitive. However, skilled workers are in short supply, which is a challenge to the economy.
Make a money transfer to Poland? If you are you considering to transfer money to Poland or doing a regular transfers abroad why not use a foreign exchange broker to ensure you get the most out of your exchange rate by making regular transfers to Poland using a currency exchange broker.
Currency for Poland?
The zloty (PLN) divided into 100 groszy. is the official currency of Poland.
Credit Cards accepted in Poland?
Credit cards are widely accepted in Poland's largest cities. While you should always carry some cash with you, if you come up short at dinner, plastic will normally suffice. Some taxis even accept credit cards, and they are also accepted at train stations . Always check with your credit card company for details of merchant acceptability and other services which may be available before you go on holiday or travel aboard / overseas/
Traveller's cheques in Poland?
Poland is essentially a 'cash country' Travellers cheques are accepted but mainly in the city. see travellers cheques - Banks in Poland are open Monday to Friday from 9am to 5pm and some are open on Saturday till 1pm. Electricity:Electrical current is 220 volts, 50Hz. The standard two-pin European style plugs are used.
Tipping: Tipping is not customary in Poland, but small gratuities of 10% can be offered for excellent service. In restaurants, when your money is collected, by saying 'thank you' this signals to the waiter/waitress to keep the change.
Currency restrictions in Poland
The import of local or foreign currency in cash or travellers cheques is unlimited. No restrictions / unlimited provided declare on arrival. There are no restrictions on the export of foreign currency although currency exchange Up to the amount not exchanged into local currency. The export of gold, silver, jewellery and other valuables is limited and subject to special conditions.
Sending money to Poland on a regular basis use compare money transfer to see foreign exchange companies offering best currency deals.