Getting currency in Krakow

Williewonthe

Until I came back a few weeks ago I thought that the best way to get foreign currency was to use my Nationwide FlexPlus debit card in a local cash machine. It always was - until Krakow.

When I got 500 zloty out of a cash machine the rate I got was 5.09, when I needed more another machine was offering 4.95 - I didn't get the supplementary cash there.

I went to an exchange bureau in the old town recommended by someone at the tourist office, one advertising NO COMMISSION, and got 5.59. Be careful to check rates (I saw at least one bureau only offering about 5.09) and make sure you doublecheck that they do not charge commission before you handover your pounds.

The bureau I used is at 18 Slawkowska but there are quite a few.

DTDfanBoy

Next time instead of allowing the cash machine to process the transaction in GBP make sure it goes through in the local currency

The Mastercard rate three weeks ago was around 5.64

PeacefulWaters

Sounds like you've let the ATM do the conversion, not Nationwide.

Williewonthe

DTDfanBoy/PeacefulWaters

Thanks. Yes, that must have been the mistake I made.

Funny, that's the first time I've seen the machine doing the conversion - despite having used the card in several countries, even in Peru and Argentina.

I've got quite a few countries on my list for the next year or so. I'll be more careful next time.

Kernow666

good you mentioned the advertised rates at the exchange bureaus , i fell victim to that on my 1st trip when i was a bit green , the guy forgot how to speak english after i questioned him on a lower than advertised rate

bagand96

DTDfanBoy/PeacefulWaters

Thanks. Yes, that must have been the mistake I made.

Funny, that's the first time I've seen the machine doing the conversion - despite having used the card in several countries, even in Peru and Argentina.

I've got quite a few countries on my list for the next year or so. I'll be more careful next time.

Its becoming increasingly common, particularly in countries that have a large tourist market. Most of my European trips in recent years you get the foreign bank offering to do the conversion.

They make it out like they're doing you a favour by helping you avoid any foreign transaction fee from your home bank. Technically this is true, but as you found they are loading the exchange rate in their favour!

Its also becoming more common when paying in shops and restaurants on the chip and pin machine. And I bet a lot of people don't notice. I always double check its being processed in the local currency.

Williewonthe

One thing I find interesting is that, before leaving the UK, I checked the zloty rate on the BBC teletext 'Tourist Rates' listing and that showed about the same rate is I got from the thieving cash machine! I think this fact fooled me into accepting the machine's rate.

Also, when I changed actual cash and not really believing that I would get the rate from the exchange bureau that was advertised, before I went there I called in at the main tourist office to check whether under EU law they are allowed to advertise 'No commission' if they in fact levy a charge. No-one knew (maybe I was being unreasonable to expect them to know what I consider an essential piece of information for tourists).

Anyway I did get the full rate but I will still ask the question before handing over my cash.

benjus

Williewonthe wrote: »

Funny, that's the first time I've seen the machine doing the conversion - despite having used the card in several countries, even in Peru and Argentina.

Argentina is one place where you really don't want to use cards at all... you can get about 50% more money by taking US dollar cash and changing it there.