Poland is a rapidly developing Central European country rich in history and culture. It is known to attract many foreigners, both visitors and residents. At the same time, Polish nationals often find employment abroad. The country is an EU member, but the euro is not yet the official currency in Poland. Luckily, there is a robust financial and currency-exchange infrastructure. Read on to learn more about money in Poland and how to juggle Polish currency at the best exchange rates.
What currency does Poland use?
The money in Poland is zloty (zl, PLN), meaning ‘golden’ in Polish. It is subdivided into 100 groszy (gr) Polish coins. Because Poland is an EU member, it must adopt the euro at some point when its monetary system meets certain requirements. However, there is no specific deadline for that. For now, the zloty is the official currency in Poland. The euro is accepted only ‘unofficially’ in some tourist places (and usually, there is a ‘convenience fee’ in the form of an unfavourable exchange rate). Other currencies, like Indian rupees, Ukrainian hryvnias, or Romanian lei, must be exchanged for Polish zloty by currency conversion.
| Polish coins | Polish coins | Polish banknotes |
|---|---|---|
| Groszy | Zloty | Zloty |
| 1, 2, 5, 10, 20, 50 | 1, 2, 5 | 10, 20, 50, 100, 200 |
There is a special symbol for each denomination of Polish zloty banknotes, which is embossed in the corner of the banknote and helps visually impaired people identify its value:
- 10 – square
- 20 – circle
- 50 – diamond
- 100 – plus
- 200 – triangle
Exchange system in Poland
Currency exchange in Poland is a routine matter. There are plenty of outlets, including bank branches and specialised kiosks known as kantors. The money can also be exchanged at hotel counters and other tourist-oriented places. While their Polish zloty exchange rate might be less favourable, they are usually open 24/7, which might be convenient in certain situations.
Banks
The banking system in Poland is well-developed, with over 30 national and international banks operating in the country. The three most popular ones are:
- PKO Bank Polski (also known as Powszechna Kasa Oszczednosci Bank Polski)
- Bank Pekao
- Bank Handlowy (or Citi Handlowy)
The working hours for Polish banks vary. In cities, branches are usually open between 9 am and 4 pm during the week (but some may work until as late as 6 pm) and till 1 pm on Saturdays. In rural areas, most banks will have closed by 1 pm. Therefore, it might be a good idea to check the office hours first if you plan to visit a Polish bank for currency conversion, cashing of traveller’s checks, or collecting money transfers (if you still don’t use online money transfer services).
Kantors
An essential part of the currency exchange system in Poland, kantors are kiosks where most major currencies can be exchanged for Polish zloty at an exchange rate that is mostly better than with banks or ATMs – but not better than with online providers such as Profee.
Some kantors, especially in busy tourist places, are open on Sundays, but prepare to get a less favourable exchange rate for Polish zloty purchases.
As a rule, kantors are honest in their operations but look out for those that only display one euro-to-Polish-zloty currency conversion rate. It is usually the selling price at which they would sell you a currency, not buy it from you. It might be up to 30% higher than what you actually get for your euros. As a rule, kantors do not charge any commission, but better confirm to be sure.
ATMs
When using an ATM to withdraw zloty from your non-Polish card, the exchange rate will not be the best on the market. However, this is still convenient, say, if you don’t have any cash to visit a kantor. In addition, ATMs are the go-to option at airports and other points of arrival that are notorious for their unfavourable currency conversion rates.
Keep in mind that when withdrawing zloty from your euro card at an ATM, it offers your two exchange rates: confirmed and not confirmed. One is the Polish exchange rate set by the ATM operator, while the other is your bank’s rate. If you select to apply the not-confirmed rate, you will be charged in PLN, which is more favourable than the ATMs’.
Similarly, if you pay by credit or debit card for your shopping, always select to be charged in zloty, which gives you a better exchange rate.
If you hold a zloty card and plan to travel, remember that you might not always get the best exchange rate on withdrawals in the local currency. Moreover, sometimes, you wouldn’t even be able to use the card.
Exchanging zloty
What if you need to exchange your Polish zloty for another currency? For example, you are an Indian on an employment contract in Poland and want to send money to your family back in India. Or you are a Ukrainian with Polish residency who needs hryvnias on your Ukrainian card to pay bills there. Or you are from Moldova but living in Poland and planning to visit your homeland soon.
There is an ideal solution for each of these cases: online money transfers with Profee. An EU-licensed provider, we offer the most competitive currency exchange rates for Polish zloty and are very transparent about our fees. We provide transfers to over 60 destinations worldwide, making it super easy to manage your money in different currencies and across different countries – whether it is to support your loved ones, deposit your earnings, or have funds in local currency when travelling back home.
To sum up, it is not difficult to exchange money in Poland. But to ensure you get the best Polish exchange rate, do your research and look out for ‘tourist tricks’ practised by some outlets. And keep in mind that sometimes an online money transfer is the most convenient, fastest, and cheapest option, especially via Profee.
