Sending money to Poland from Canada comes with a more expensive price tag if you’re relying on banks. Fortunately, there’s a way to polish up your business savings.
Canada enjoys a robust merchandise and services trade with Poland. According to the Parliament of Canada, the ease of doing business with Poland is relatively high. This enables many Canadian companies to benefit from high-value imports, such as machinery, equipment food products , clothing, and furniture.
Given all this, it’s not surprising that many businesses in Canada transfer money to Poland every day.
The benefits of doing business with Poland can be compounded by finding a cheaper way to move your money. You can use several types of services to send money, and while some are convenient, the costs are not always favorable to your bottom line. Read on to discover the best way to send money to Canada, that has competitive exchange rates and low transfer fees.
How to Transfer Money from Canada to Poland
In the past, many businesses have relied on banks and traditional financial institutions when transferring money from Canada to Poland. The most common reason for doing this is that it’s convenient.
That said, the expensive bank charges and not-so-competitive exchange rates mean that banks are not an entirely viable option. Also, consider that banks take too long to transfer the funds, and this becomes doubly true. Therefore, there’s a need to find a service that offers convenience, cost-effectiveness, and fast turnaround times.
If you’re looking for these green flags, you can usually find them with a specialist foreign exchange service like MTFX. With MTFX, for instance, your money can reach its destination within 24-48 hours, the exchange rate is 3-5% cheaper than the banks, and the transfer fees are low. The icing on top is that you also have access to a wide range of foreign exchange tools to streamline how you send money abroad.
Increase the convenience of sending money to Poland with MTFX’s real-time rate calculator. Go ahead and compare the exchange rate for the CAD/PLN currency pair before initiating your transfer.
What is the current Polish Zloty PLN to CAD currency rate?
Why does the PLN/CAD exchange rate matter?
Poland’s official currency is the Polish złoty, so you need a favorable exchange rate to minimize financial loss after conversions. The PLN/CAD exchange rate affects how much you have to pay for your beneficiary to receive the correct amount. Generally, banks and traditional financial institutions have poor exchange rates that increase the price of imported goods and services from Poland.
On the other hand, you can find an exchange rate that’s 3-5% lower with a currency specialist like MTFX. So, if you’re converting 30,000 Canadian dollars, you can save up to $1,500. MTFX can afford to offer competitive rates due to the large volumes of currency exchanges, so the more you transfer, the more you save.
What bank details are needed to Transfer Money to Poland from Canada?
When sending money to Poland from Canada, you will need:
Beneficiary account number
Bank Swift code
Reason for your transfer
Can I send money to a Polish bank account online?
When you register an MTFX account, it’s not only possible to transfer money to Poland online, but it’s also easy and convenient. You can access the platform 27/7 from anywhere and using any smart device. This will help streamline your outgoing payments to Poland, making life easier for you.
Can I set up regular payments to Poland?
An MTFX business account gives you access to a 24/7 platform that uses the best automation technologies. You can easily set up regular payments to Poland via your online account. You also have access to MTFX’s team of foreign exchange specialists if you need help setting up recurring payments to Poland. You can do much more with an MTFX business account, including targeting the rate you want and minimizing your downside risk.
Send Money to Poland today
Sending money to Poland via MTFX is convenient from start to finish. You can register your MTFX business account online in just a few minutes and start sending money with the press of a few buttons. With MTFX, you can enjoy competitive exchange rates, low transfer fees, and all the convenience that comes with the quickly accessible and fully automated online platform.
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Who can use the MTFX payment service?
Individuals and businesses who need to send money in foreign currency internationally can use MTFX’s services. The beneficiary of the transfer must have a bank account for the funds to be paid into.
Personal clients usually use our services to transfer money between their own accounts in two different countries.
Business clients usually use our services to transfer funds to suppliers, fund international operations, or repatriate overseas earnings.
Why should I use MTFX and not my own bank?
MTFX offers currency exchange rates that are 2-5% better than those offered by the banks. Personal clients usually save hundreds of dollars per transfer and for larger transfers, the savings can run into the thousands.
We also offer excellent customer service, dedicated currency specialists, and a 24/7 online platform with best-in-class technology that allows you to complete transfers from any device virtually anywhere in the world.
Business customers save with better currency exchange rates and proven solutions geared towards managing and mitigating foreign exchange risk. Our solutions include forward contracts, market orders, rate alert services, and much more - all backed by great technology and great people.
How do customers send funds to MTFX?
Funds can be transferred via wire transfer, Electronic Funds Transfer (EFT), or ACH payment services. MTFX maintains bank accounts in all major currencies with highly-rated banks. Our banking infrastructure ensures that you can transfer funds to us quickly and securely.
How long does it take MTFX to transfer funds?
Our global network of banking partners allows us to get funds to virtually anywhere in the world quickly and efficiently. Most wire transfers from MTFX will be received by your beneficiary within 24-48 hours. MTFX also offers same-day transfers that are almost instantaneous, as well as low-cost in-country payment services for your less urgent transfers. For further information please speak to one of our currency specialists.
Please read the following update before logging in to your MTFX online account
We have updated our online dealing system to provide you with better functionality, more unique tools and an overall enhanced client experience. MTFX Online 2.0 is now available for your dealing needs. You can begin using our enhanced online portal today.
Please note that the traditional portal will be available for use until MAY 30th 2021 at which point it will be decommissioned.