The bank will pay almost 5 PLN for EUR

The bank will pay close to 5 PLN for the euro / © 123RF / PICSEL

In the last days, the l & # 39, euro reached the limit of 4.40 PLN. That's a dozen cents more than at the beginning of last year's vacation. For a casual tourist, the change of course is obviously heavy, but it should not spoil the long-awaited vacation. Both leisure and pocket satisfaction can seriously affect the fact that through a system of commissions and fees, the bank can collect up to 50 grams more than the current rate of the European currency

. commissions and fees in the Polish banking sector, the average conversion of transactions (for example, the transaction in EUR is converted into zlotys) means our portfolio charge of 2.82 per cent.

If, for example, we spend 1000 euros on the card, then – with the interbank rate of 4.4 zlotys per euro – an expense of 4524 zlotys instead of 4400 zlotys will appear on our statement. It is a loss of PLN 124

It would be illusory to think that this is the end of the fees for the transaction above. In addition to using the card transaction fee, many banks apply their own exchange rates, which differ significantly from market rates and those established by payment card issuers.

Often, the spread (the difference between buy and sell) 6 percent This means that the selling rate (the one on which the euro is automatically bought in our cashless transactions) varies from about 3 %. the interbank exchange rate.

As a result, an additional 3% should be added to our "account". with a sample transaction. We therefore receive a result of 4660 PLN. We are already losing 260 zlotys and we are paying 4.66 zlotys for the euro at the same time, whereas in reality it was worth 4.40. Unfortunately, it is the end of our expenses. The most extreme example of bank charges remains.

Note to an ATM: According to the bank, 100 euros are almost 500 zlotys

There are banks that are not satisfied with the conversion commission of less than 3%. and an inflated sales rate charging the customer an additional 3% fee. One of the Polish banks applies the following procedure to popular credit cards or credit cards.

First, a difference of about 3% will be charged, then – as if that were not enough – a commission of 5.9%. For a thousand euros, our cashless transaction already costs 4 800 PLN, but in reality it should be only 4 400 PLN.

If we decide to deposit 100 euros for example in a vending machine, 9% of the transaction is invoiced. (exchange rate of the table and conversion fee) In addition, we will pay an additional commission of 10 PLN. The 100 euros taken from the ATM will cost us 490 PLN, or 50 PLN more than what it actually represents.