Questions and answers

On our website, we offer purchase and sale of 19 currencies. At the moment, exchanges between two foreign currencies are not possible – PLN must always be on either side of the exchange.

* Due to Russia's aggression against Ukraine and difficulties in settling transactions caused by the exclusion of Russian banks from the SWIFT system, InternetowyKantor.pl suspends trading in Russian Ruble until further notice.

Due to Russia’s aggression against Ukraine and difficulties in settling transactions caused by the exclusion of Russian banks from the SWIFT system, on February 28, 2022, InternetowyKantor.pl suspended trading in Russian ruble until further notice.

Our website can be used by both natural persons and legal persons as well as organisational units without legal personality to which the law grants legal capacity.

In some cases, we may ask you to provide relevant documents connected with identity verification. If you are registering as a natural person, please send a scan or photo of your ID card or passport (residence card in the case of foreigners residing in Poland). If you are registering as a company, please send a statement on beneficial owners. In addition, we may ask you to send a document confirming the identity of the person authorised to act on behalf of the company. If the person who registers the company on the website is not authorised to represent it in accordance with publicly available registers, please provide the authorisation document.

As a domestic payment institution and an obligated institution, we are subject to the provisions of the Payment Services Act and the Act on Counteracting Money Laundering and Terrorist Financing. Resulting from the above are a number of obligations that must be met in order to ensure maximum security of transactions.

n order to be able to use InternetowyKantor.pl, you must provide the required data, including the PESEL number and the features of an identity document (identity card, passport or residence card). We may ask you to present your identity document to confirm the provided data. Due to the continuous development of the website, it may happen that your data turns out to be incomplete under currently applicable Terms and Conditions. We will then ask you to supplement them, even if you have been using our services for some time. More detailed data increases the level of verification of the User’s identity in the event of any problems with the transaction, and thus increases the security of your funds. If you do not supplement all the necessary data, we will not be able to provide services to you.

We assure you that the personal data of our customers are protected in accordance with the procedures and legal requirements (set by the General Inspector of Financial Information [GIIF], the Inspector General for Personal Data Protection [GIODO] and the Polish Financial Supervision Authority [KNF]) and are not used by us for other purposes than the operational activity of the website and activities required by the regulator.

If no transaction has been carried out with a given profile yet, you may change the name yourself in “Settings”, in the “Your details” tab.

If transactions have been made with a given profile, however, you should send us an email informing about the matter. In your profile, please upload a scan of your marriage certificate or a double-sided scan of your ID card with the new name, alternatively, confirmation of a transfer sent from the account from which transfers were previously made to InternetowyKantor.pl – with the new details. To attach a file, please log in and select the “Settings” tab, then “Your details”, “Upload document”. We will make appropriate changes based on that.

Of course! We provide our customers with mobile applications for IOS and Android.

Read more in the Mobile appliactions tab.

The InternetowyKantor.pl application is a convenient way to check exchange rates and make exchanges. You can also add accounts, edit your data, or send documents necessary for verification there.

The exchange rate is updated every 10 seconds.

Exchange rates are determined on the international financial market (Forex) as a result of the relationship between currencies demand and supply. The demand and supply of a given currency is influenced primarily by important economic factors in the country (region), e.g. increase or decrease in interest rates, inflation level, economic growth rate, unemployment rate, but also significant political and social events in the world that may have economic consequences. Often, changes in exchange rates are also influenced by announcements or predictions of certain events or the interpretation of signals provided by governments or monetary authorities.

We encourage you to follow the current situation on the financial markets in the daily comments of our currency dealers.

Thanks to the exchange rate charts for a given currency pair, you can learn about trends, i.e. the behaviour of the exchange rate over a certain period. In order for the charts to be helpful in making decisions to purchase or sell currencies, it is worth understanding the mechanisms that drive them.

Line chart – the line connects the points of individual quotations of the exchange rate (average quotations from a given period). The end of the line chart is updated on a regular basis, i.e. every minute, in a given time interval in which the rates are collected to present them as averaged points. Therefore, you should consider a line chart as a general illustration of trends in the rate of a given currency pair in a specific period and be aware that the rate displayed with a specific date and time, e.g. 8:45, is not the exchange rate on that day at exactly 8:45, but the average rate from 8:31–8:45.

In the Customer Panel, one may view only the average exchange rate chart for a given currency pair. Also available on the website are the buy and sell rates charts.

Candlestick chart – each candlestick represents the behaviour of the price in a given period, where the base and top of the candlestick body indicate the prices that occurred at the open and at the close of the period, and the candlestick shadow indicates the extremes, i.e. the lowest and highest prices in a given period. The colour of the candlestick shows whether the price increased (white candlestick, open price at the base, close price at the top) or decreased (black candlestick, open price at the top, close price at the bottom) over the period.

Bar chart – each candlestick represents the behaviour of the price in a given period, where the base and top of the candlestick body indicate the prices that occurred at the open and at the close of the period, and the candlestick shadow indicates the extremes, i.e. the lowest and highest prices in a given period. The colour of the candlestick shows whether the price increased (white candlestick, open price at the base, close price at the top) or decreased (black candlestick, open price at the top, close price at the bottom) over the period.

Time range and data accuracy

Data accuracy depends on the time range you set in the chart. In a line chart, the price quoted for a given timeframe is actually the average price for a given timeframe, while in a candlestick and bar chart, each candlestick/bar refers to a given timeframe:

• for a chart presenting data from 1 day (24 h), the time interval is 15 minutes
• for a chart presenting data from 1 week, the interval is 1 hour
• for a chart presenting data from longer time ranges, the interval is 1 day

Our analysts provide a detailed description of the currency market and the volatility of trends in daily currency commentary.

Transactions on InternetowyKantor.pl are made at the exchange rate as of the moment of transaction confirmation. The final exchange rate is also influenced by possible fees for sending the transfer and discounts or points accumulated under the Points Program. If this is the case, additional information (green letter “i” ) will appear next to the exchange rate with details of the rate. When placing an exchange order, you can choose the option of the exchange rate confirmation that works best for you.

Exchange at the current rate

Exchange at the current rate allows you to confirm the exchange rate first and then send the transfer. To exchange funds, you must first confirm the currently displayed exchange rate, and only then deposit funds. This option gives you a guarantee that the exchange rate will not change, and after the exchange you will receive exactly the amount of currency you confirmed at the beginning. For each exchange rate confirmation, we generate a special transfer title, shown in the Customer Panel when placing a transaction order. Do not modify the title of the transfer. Only then can you be sure that the exchange will be made correctly. More about this exchange option in the Transactions and transfers section.

Exchange “When the rate is no worse than…”

The funds you send to us as part of this order will be converted when the buy/sell rate for the currency reaches a certain level. You can also indicate the date until which the system will wait for a given exchange rate, and when the indicated period expires, the system will automatically validate your transaction at the exchange rate in effect on the following day. After currency conversion, our system sends the funds to your account which you indicated when placing the exchange order. This exchange option consists in automatic confirmation of the transaction by the system, therefore you can only make payouts to your own bank account. A transfer to another person’s account may only be carried out after accepting the terms and conditions.

Exchange confirmed manually and manual confirmation of the rate

In the case of manual confirmation of the exchange rate, after we receive and book your payment, you will be able to choose the moment when the exchange is to take place. All you have to do is log in to the panel and click “Approve” when the rate suits you. The exchange will take place at the confirmed rate. By choosing this exchange confirmation option, you can decide to confirm the exchange rate even after a few days or weeks after we book your transfer.

Exchange “At the rate from the moment you receive my transfer”

After receiving your transfer and booking it in the Customer Panel, our system will automatically confirm this exchange in accordance with the transfer title, i.e. it will confirm the exchange rate in effect at that time and execute the payout. On InternetowyKantor.pl, you know the exchange rate when you are placing an order, but if you exchange more than PLN 100,000 the option of confirming the rate before payment (exchange at the current rate) is not available. Therefore, you can either deposit first and then manually confirm (exchange confirmed manually), or use the non-standard option, which is auto-confirmation. As soon as we receive your funds, the system will automatically confirm the exchange rate, without the need for any action on your part.

The currency spread is the difference between the sell rate and the buy rate of a given currency pair, e.g. Euro (EUR) and Zloty (PLN). Each currency exchange institution sets its own spreads for individual currency pairs, based on market rates (Forex market). The spread can be expressed in grosz, pips or percentages.

For example, if a given exchange office/bank sells EUR 1 at the exchange rate of 4,2300 and buys it for 4,1000, it means that it has a spread of 13 grosz (4,2300-4,1000=0,1300).

13 gr=0,1300=1300 pips

1 pips=0,0001=0,01 gr

The percentage spread is obtained by dividing the difference between the sell and buy rate expressed in grosz by the sell rate. For the above example:

(4,23-4,10*100)/4,23=3,07%

Standard spreads on InternetowyKantor.pl are presented in the table below:

The spreads posted on the home page also apply to Users when confirming a transaction, regardless of its amount.

The spread is the profit of the currency exchange institution. Each institution has its own spread policy for particular currency pairs. InternetowyKantor.pl carries out significantly more exchanges per day than most stationary exchange offices, so it can optimise the costs of exchanges for its Users.

The minimum amount you can exchange with us is:

• 1 currency unit for: EUR, USD, CHF, GBP, AUD, BGN, CAD, NZD, SGD, TRY
• 100 currency units for: CZK, DKK, HKD, MXN, NOK, RON, RUB, SEK, ZAR

This means that if you want to exchange with us, you must send enough money to buy at least 1 EUR/USD/CAD or 100 CZK/DKK/SEK. When you want to sell currency, the exchange to PLN will be made if we receive at least 1 EUR/USD/CAD or 100 CZK/DKK/SEK.

For transfers sent from foreign accounts, the smallest amount you can exchange is:

Santander Bank has a minimum amount required to send a foreign currency transfer, so if we send a foreign currency transfer from and to this bank, its equivalent must be at least PLN 5. This also applies to transfers to accounts in Deutsche Bank.

Please note that transfers between banks not included on the list of banks supported by InternetowyKantor.pl are additionally payable (according to the Table of Commissions and Fees of a given bank).

Our system implements an automatic negotiation system for CHF exchange (for other currencies the spread is already the lowest possible).

The exchange rate thresholds for CHF are as follows:

• for a purchase transaction worth PLN 30 000, the exchange rate changes to a more favourable one by 0,01
• for a purchase transaction worth PLN 50 000, the exchange rate changes to a more favourable one by 0,015

We grant individual discounts to regular customers. Depending on the amount of exchange, currency and customer tenure, the discounts are between 10 and 100 pips (0.0010–0.0100). To obtain information on the possibility of receiving a discount, please email our Customer Service.

The exchange at the selected rate will take place when the buy/sell rate reaches the limit you have specified. If you have points to exchange at the interbank exchange rate or discounts, they will be included in the transaction only when the exchange rate reaches the level you have specified. This means that the exchange will actually be made at an even better exchange rate – lower in the case of buying and higher in the case of selling the currency. Fees, if any, will also be added to the rate (for payouts or for paper invoices).

The savings are calculated as the difference between the exchange rate at which the funds were exchanged and the exchange rate from the Table of Exchange Rates that was in effect on a given day at the bank where our customer has an account. We compare our exchange rate to the exchange rate from the bank’s Exchange Rates Table, because it is the exchange rate based on which standard operations in a given bank are made, unless individual preferences are applied. This exchange rate is published in the Bank’s Currency Exchange Rate Table at least once a day and posted on the bank’s website. Therefore, we make every effort to ensure that the data and calculations are always up to date. In the case of additional services, e.g. currency exchange services, promotions or individually negotiated currency exchange conditions, we do not compare our exchange rates with those offered by banks. The actual savings obtained may therefore differ from the calculations presented in our currency calculator.