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[Tracer]

Hello everyone, being somewhat of a novice in the area of international finance, I was wondering if any of you folks could recommend a cheap and reliable way to take dollars from a US bank account and convert them into zl and then deposit them into a Polish bank account?

(I haven't actually started doing any research yet, because I don't want to re-inventing the wheel.)

The Problems . . .

My US Bank - Charges a fee for the transfer and it takes a day or two.
My Polish Bank - Will cheat me on the exchange.

I'm wondering if I can't just set up a polish paypal account with my Polish NIP and transfer money to myself that way? There will still be fees, but not as bad as what the banks will be charging me.

I'm sure there is an intelligent way to do this . . . .

[Blasphemer]

I can tell you how I handled this.
I opened up a foreign currency account with my Polish bank, had the money transferred and then exchanged. I don't know the name of your bank here, but after doing some research I went with one that gave me some great options and was able to exchange my currency on the spot with out being robbed. Maybe you could look around and start an account with a different bank?

As per paypal... I'm not 100% sure, they are not very clear when it comes to transfers. I know that if you decide to convert, there will be a 2.5% fee added. It doesn't say anything about transfers but only mentions accumulated wealth. You might want to contact them directly.

[Tracer]

Blasphemer,

So you're saying you opened up an account in US dollars here in Poland? I'm with -------- and they gave me that option when I set up an account with them in zl. I can set up another free checking account with them in dollars, no problem. They won't necessarily rob me on the exchange, but they will squeeze out their share.

[Blasphemer]

I'd rather not post that on a public forum... sorry mang... just a bit paranoid about that.