Withdraw Cash from Bank Croatia NOT ATM

CottonyTapper

Hello,

UK Citizen travelling to Croatia. Need to take out cash (four figures of EUR) from a bank in Croatia. The amount will be outside of normal ATM card limits, and I want to make one transaction only.

This is to pay local suppliers, the amount is not 100% decided yet so I do not want to get out EUR in the UK and take them with me.

Can I visit a bank and get EUR over the counter once I know the amount? What do I need to know?

Please do not answer with tips and advice on card fees / ATMs. This is not what I'm looking for.

Thanks

sheenas

Passport and debit card would do the job. Not sure on the withdrawal limits or how cost effective the conversion rates will be. Ive not got cash out for many years at home or abroad

Emmia

https://forums.moneysavingexpert.com/discussion/6669619/withdraw-cash-from-bank-croatia-not-atm

Without knowing the amount it is difficult to advise on whether there would be over the counter restrictions that might be a factor, and if it's a large amount you'd be reliant on the bank having that much cash "ready to go" at no notice.

Personally I think a cash payment for a business transaction sounds dodgy... Money laundering? Tax Evasion? Why can't the payment be made via a bank transfer - or is there a reason this can't go through the books of one or both parties?

Ayr_Rage

https://forums.moneysavingexpert.com/discussion/comment/82010292#Comment_82010292

Is that, as the OP asks, from recent actual experience in Croatia?

If they will accept a transfer rather than cash in hand, use WISE.

J_B

We have a house in Paphos, Cyprus - if you go down to the harbour there are many souvenir shops that also do cash exchange - common talk is that they have no issues exchanging 1k of sterling, or maybe more.

Would such places be available in Croatia?

CottonyTapper

https://forums.moneysavingexpert.com/discussion/comment/82010330#Comment_82010330

Thanks for the reply. This is to pay a number of local suppliers some of whom do not have bank accounts, and / or who are elderly. I'm not concerning myself with their arrangements, only what their requirements / requests are.

Looking in to the feasibilty and costs of doing this. Thanks for your input.

CottonyTapper

Thanks to everyone who responded. I have researched this and:

1 My Bank First Direct charges no fees for EUR withdrawals on debit cards. Transactions over the counter at a bank are treated as cash withdrawals and translated at the standard Mastecard Rate. I have to increase my daily card limit (can be done by phone).

2 Zagreb Bank (one of biggest retail banks) charges no fees for over the counter withdrawals. They need passport and card, that's it.

So I am basically fee free on either end and the rate is the same as I would get from Monzo or Wise, with a £2K per day limit.

That's the theory, I'll post on return how it played out!

Mands

https://forums.moneysavingexpert.com/discussion/comment/82017737#Comment_82017737

First Direct have confirmed no fees and a rate comparable with Wise/Monzo?

I live in the eurozone and rarely use cash these days but stopped taking any cash out of FD as the rates were terrible. If that position has changed it would be helpful to know.

Please report back when you are done?

CottonyTapper

Hi in the end I didn't need to do this. I was able to pay people using Wise in EUR and my Monzo for meals and other transactions, always using Euros and getting a great rate.

When I contacted First Direct they said the EUR transactions are always converted using the Mastercard Mid-Market rate, which is standard and published the day after. Same as Wise, Monzo etc.

(Un)fortunately I did not have chance to test this and stuck to Monzo for transactions, got my EUR notes in the UK and Wise to pay bills to Croatian suppliers.

One thing I did find out was that you can vary the ATM card limit (move it beyond £500) BUT there is still a per transaction limit. So if you wanted to get out say €2K in one day, you can raise your daily limit but still get hit 4x with the local ATM fee €5.30 for €500 at Zagrebacka Banka. Hope this helps/