Sending money to Poland from another country

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Aug 12, 10, 05:31 #1

I thought I'd share some of my initial findings.

I'm trying to figure out the most cost effective way to send money to Poland from the US. The following are my comparisons of 4 services:

XOOM.com
$4.99 transfer fee
exchange rate 1 USD = 2.9328

Western Union
$43.00 transfer fee
exchange rate 1 USD = 2.9634926

ATMCASH.com
$5.00 transfer fee
Monthly maintenance $1
ATM Withdrawal Fee $1.50 (* excluding local owner ATM fee)
exchange rate 1 USD = 2.91

Citi Bank Global Transfer
$8.00 transfer fee
exchange rate 1 USD = 2.9843

... so far Xoom.com gives you more bang for your money. Although, the transactions are a bit slow.

plk123Threads: 30 Posts: 6,412 Joined: Aug 29, 07 ♂	Aug 12, 10, 06:36 #2
just go with the real bank.. it's cheaper in the end and you know for sure what you're getting..

Forfour44Threads: 8 Posts: 77 Joined: Oct 22, 09 ♂	Aug 12, 10, 12:13 #3
Moneybookers.com is the best way. It's fully legal tho. You have to have a reg address in your country to deposit and they have to have a reg address in that country to withdraw it. I use it alot to transfer money from my UK account to my Polish account. I save around 3-8% each time. Takes up to 10 days tho. Normaly 3 days.

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Aug 12, 10, 12:27 #4

My bank has the following fees for wire transfers:

What are the fees associated with an international wire?

Customer Funds Sent in US Dollars (USD) - $45

Customer -Funds Sent in Foreign Currency (FX) - $35

Not quite sure how this works exactly. But if you can send USD to a Polish bank and withdraw it in USD, then it probably works better especially for large amounts since you can just take that money to a kantor for a better exchange rate... no?

Forfour44Threads: 8 Posts: 77 Joined: Oct 22, 09 ♂	Aug 12, 10, 22:22 #5
If you want to take USD out of a polsh bank you need a USD account witht the polish bank. Other wise they just transfer it to ZLT. Thats why moneybookers is the best way to send it. It can be sent any way you want and withdrawn the way the other person wants.

QacerThreads: 44 Posts: 120 Joined: Jul 9, 07 ♂	Aug 13, 10, 05:34 #6
Forfour44: If you want to take USD out of a polsh bank you need a USD account witht the polish bank. Other wise they just transfer it to ZLT. Thats why moneybookers is the best way to send it. It can be sent any way you want and withdrawn the way the other person wants. It is probably so if you are not in the US. But Moneybookers.com does not offer the same service here in the US.

tonyadamsThreads: 1 Posts: 1 Joined: Aug 16, 10 ♂	Aug 16, 10, 17:15 #7
I have used xoom for several transactions here in Poland. I pay my rent and other bills. Xoom is pretty quick overall. I have had no issues with them so far.

valpomikeThreads: 20 Posts: 244 Joined: Apr 20, 09 ♂	Oct 28, 11, 17:41 #8
Merged: What is the best way to send money to family in Poland? What is the best way to send money to family in Poland? I don't want to use pay-pal, or check, or money order, or travleriers checks, but there must be another way, also, don't want a bank transfer. I am told you can send some sort of pre-paid credit card. Can you help me with this? Mike

SeanusThreads: 22 Posts: 30,158 Joined: Dec 25, 07 ♂	Oct 28, 11, 22:38 #9
WU is pretty easy to use. I'm making use of them for the 2nd time in the last couple of weeks and the procedure is simple.

eliougThreads: 3 Posts: 41 Joined: Sep 9, 10 ♂	Edited by: elioug Oct 28, 11, 23:19 #10
I use Moneygram, i get the money in the post in zlotys. Obviously according to the value of dollar it can be more or less sometimes so for me its a gamble. I dont have other cheaper option. I consider bank transfer expensive... maybe it works better for transfer from other countries.

valpomikeThreads: 20 Posts: 244 Joined: Apr 20, 09 ♂	Oct 30, 11, 02:34 #11
Who knows anything on a pre-paid debit, or credit card, as far as where you buy it, and how it is used? Mike

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Nov 20, 11, 14:57 #12

I used Custom House. It's a company that Western Union recently bought. They charge $22, give you an exchange rate that's good for 30 seconds (then automatically refreshes), then they draft your American bank account and transfer Zloty to your Polish account. The whole process took 5 business days.
I used them to pay my applicaton fee for the university which I am studying now...and after I arrived I used them to transfer the remaining balance in my American bank account to my Polish account.
I submitted the transaction on Sept 30 (when the rate was about 3.33) and I got a 3.27zl rate. It was nice =)

Guest	Nov 20, 11, 16:48 #13
How about Paypal?Anyone tried that?

valpomikeThreads: 20 Posts: 244 Joined: Apr 20, 09 ♂	Nov 20, 11, 16:52 #14
I tried pay-pal, and it worked fast for me. Mike

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