Better currency exchange for my Euro: Bank or Kantor?

POLAND . The Unofficial Guide

skubusThreads: 6 Posts: 27 Joined: Jun 28, 10 ♂	Dec 11, 10, 22:35 #1
Hi all, quick question for you all. Where will i get a better exchange rate for my euro? Bank or Kantor? Many thanks

peter_olsztynThreads: 8 Posts: 760 Joined: Apr 18, 07 ♂	Dec 11, 10, 23:21 #2
skubus: Where will i get a better exchange rate for my euro? Bank or Kantor? in kantor of course

♂

Edited by: skysoulmate Dec 11, 10, 23:25 #3

What is Kantor? Currency exchange office like Forex?

Which country are you going to? I travel for a living so I do lots of currency purchases.

From my experience the best rates are usually when you use your debit card and make regular withdrawals from a local ATM. You get the best rate in a 24 hour period.
Then it's credit cards (master cards usually a better rate than visa).
Then it's bank purchases but it depends on the bank and the amount. The larger the amount the better rate/service fee.
Following that is currency exchangers but in my case the standard currency exchange fees are usually waived (crew member discount) and therefore I'd get a better deal here than in a bank. I posted it below the bank exchange assuming you do have to pay the service/exchange fee.

The difference between the best and the worst deals can be anywhere from a few per cent up to 8 per cent, that's the highest difference I've ever noticed.

Disclaimer - never use your ATM card in red china (hong kong and taiwan is ok).
YMMV, good luck.

Wroclaw BoyThreads: 57 Posts: 5,470 Joined: Jul 3, 09 MEMBER ♂	Dec 12, 10, 09:27 #4
skysoulmate: What is Kantor? Kantors are usually small booth like shops, privately owned and well known in Poland for exchanging cash for cash.

skubusThreads: 6 Posts: 27 Joined: Jun 28, 10 ♂	Dec 12, 10, 10:26 #5
Many thanks for all the information folks..is there usually much of a difference between the two?(bank v kantor) i.e. would i get 5,6,7 groszy more per euro at the kantor than in a bank?

terriThreads: 1 Posts: 385 Joined: May 3, 09 ♀	Dec 12, 10, 11:48 #6
Outside each Kantor you will find a display of the rates being offered. They are generally not the same ones in each kantor. You can always go inside any bank and ask for the rate of exchange, but generally, it will be lower than in a kantor. And remember the ones near the centre offer lower rates.

delphiandomineThreads: 42 Posts: 9,954 Joined: Nov 25, 08 ♂ [Suspended]	Dec 12, 10, 12:50 #7
skysoulmate: Disclaimer - never use your ATM card in red china (hong kong and taiwan is ok). Why not?

Wroclaw BoyThreads: 57 Posts: 5,470 Joined: Jul 3, 09 MEMBER ♂	Dec 12, 10, 13:35 #8
terri: And remember the ones near the centre offer lower rates. Airports are the worst and kantor chains usually dont barter, its the small private ones i find the best. They will most probably not barter on anything less than 1000 PLN's worth.

♂

Edited by: skysoulmate Dec 12, 10, 13:47 #9

delphiandomine:

Why not?

The banks will NOT reimburse you if their own ATMs spit out bogus (fake) yuan (rmb) bills. Has happened to several of my friends and the banks will not refund the money or issue legit money bills. Here's a typical scenario:

At first they'll say the hotel is responsible (the ATM is inside the Hyatt's lobby). The hotel manager says it's the bank's responsibility. So you end up going to the nearest branch and ask to speak to a supervisor. The manager persists that the money couldn't have come from their ATM. When you say there's video evidence (hotel lobby has several cameras) the tone changes and now he's implying that since you have counterfeit money on you then you're actually breaking the law! You're a criminal!

They'll make you leave the money and walk out of the bank! This despite having video proof of the ATM spitting out fake money.

Note, I'm not talking about some very well designed Chinese fake bills. No, rather discolored pieces of paper that happen to be the same size as their 100 yuan (~$15) bills. The size is the only thing that is correct. Wrong paper, wrong color, wrong everything, no text, you get the picture. if someone wants to go shopping they usually exchange $500 plus at a time (you can buy beautiful pearls in shanghai :)
Last time this happened a friend got over $600 in fake local currency. This is not that uncommon in red china, supposedly local cops are in on this "venture". So no ATMs in red china is my advice.

PS. The ultimate irony of it all is that if you have dollar or euro bills and try to exchange them for the local money at the hotel they will not accept ANY bills from you that have any tears in them, I mean it has to be almost perfect.

delphiandomineThreads: 42 Posts: 9,954 Joined: Nov 25, 08 ♂ [Suspended]	Dec 12, 10, 14:36 #10
skysoulmate: So no ATMs in red china is my advice. That's really interesting, thanks :)

convexThreads: 46 Posts: 7,185 Joined: Nov 25, 09 ♂	Dec 12, 10, 15:44 #11
skysoulmate: So no ATMs in red china is my advice. Better yet, get in touch with the local newspaper and let them know what happened. It might not make it into the paper, but the CPC will get a whiff of it. Might even get someone executed...either because their fighting corruption, or because they weren't cut in...

skysoulmateThreads: 41 Posts: 3,039 Joined: Jan 10, 10 ♂	Edited by: skysoulmate Dec 12, 10, 23:40 #12
convex: Better yet, get in touch with the local newspaper and let them know what happened. It might not make it into the paper, but the CPC will get a whiff of it. Might even get someone executed...either because their fighting corruption, or because they weren't cut in... We have, numerous times. Shanghai Daily even thanked us for one of the emails, that's about it. Deaf ears.

JumpmanProThreads: 3 Posts: 9 Joined: Aug 26, 10 ♂	Jul 3, 11, 00:52 #13
Hi, I'm flying to Wroclaw at the end of this month. Can any locals list 3 or 4 "Kantor" directly in or around the Rynek where I can get the best exchange rate for Euros? I've heard that EUR 1 = 3.49-3,59 PLZ is the best exchange right now. Thanks in advance.

WroclawThreads: 77 Posts: 7,404 Joined: Apr 1, 06 ♂ [Moderator]	Jul 3, 11, 01:31 #14
JumpmanPro: Can any locals list 3 or 4 "Kantor" directly in or around the Rynek where I can get the best exchange rate for Euros? they all give the same rate. at least within a couple of cents.

Shanghai4444	Jul 3, 11, 09:39 #15
That's interesting. I've visited Shanghai 3 times this year (business) already. Each time used ATM several times (5-6). Never experienced this problem. I don't say this is the lie but I wonder how ATM knows that fake money which it gives go to a tourist not to the local person? Unless of course it is programmed by Bank employee that way (which is rather difficult to believe).

pweg	Jul 7, 11, 13:21 #16
Shanghai4444: wonder how ATM knows that fake money which it gives go to a tourist not to the local person? Unless of course it is programmed by Bank employee that way (which is rather difficult to believe). The Machines are in hotel lobbys

groovygThreads: 1 Posts: 51 Joined: Jun 18, 07 ♂	Aug 13, 11, 23:50 #17
As stated before, change in a Kantor not at the airport. But do shop around since rates between kantors vary dramatically and many of them have shamelessly horrible rates. Have the bank's exchange rate in mind as a point of comparison. If you couldn't be hassled with all this, just go to a bank.

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