Data checked 25 September 2026
Paying by card abroad, or online in a foreign currency, involves more than one exchange rate. There’s the rate set by the card scheme (Visa or Mastercard), and then there’s whatever the bank or fintech adds on top, whether as a separate fee or built into the exchange rate itself. Understanding where these charges sit — and what dynamic currency conversion at the terminal actually does — can help make sense of a statement full of unfamiliar figures.
Who converts the currency
When a card issued in Poland is used to pay in a foreign currency, the transaction usually passes through the card scheme’s own exchange rate first. Visa and Mastercard publish daily rates that convert the foreign amount into Polish złoty (or sometimes into the scheme’s own reference currency before a further conversion).
On top of that scheme rate, the bank or fintech that issued the card may apply its own margin, a flat conversion fee, or claim to charge nothing extra and simply pass on the scheme rate. Which of these applies depends entirely on the provider and the specific account or card product, so it’s worth checking the exact wording in the terms rather than assuming a rate applies uniformly to all cards.
Conversion fee vs exchange-rate margin
Two different things get lumped together under "currency conversion cost": an explicit percentage fee charged on top of the exchange rate, and a hidden margin built into the rate itself. A provider that says it charges 0% on conversions may still be applying its own exchange rate rather than the scheme’s market rate, which can itself include a margin.
For example, Wise charges a conversion fee of 0.26% (Visa/Mastercard or market rate) when using the Visa or Mastercard rate. Revolut applies 0% up to PLN 5,000 a month, then 1% (Revolut rate) up to a monthly threshold, after which a fee kicks in. bunq charges 0.5% (Visa/Mastercard or market rate). Millennium’s debit card applies 0% (Visa/Mastercard or market rate), while mBank’s eKonto do usług and Alior’s Konto dla młodych both list 0% (provider’s own rate) and 0% respectively, though the wording differs between "provider’s own rate" and a flat percentage, so the practical outcome may not be identical.
- Wise Account: card currency conversion 0.26% (Visa/Mastercard or market rate)
- Revolut Standard: card currency conversion 0% up to PLN 5,000 a month, then 1% (Revolut rate)
- bunq Elite: card currency conversion 0.5% (Visa/Mastercard or market rate)
- Millennium 360° debit card: card currency conversion 0% (Visa/Mastercard or market rate)
- mBank eKonto do usług: card currency conversion 0% (provider’s own rate)
- Alior Konto dla młodych: card currency conversion 0%
Fair-use limits
Fee-free or low-fee conversion is often capped by a monthly spending or transaction limit, sometimes called a fair-use policy. Beyond that threshold, a higher percentage typically applies to the excess amount rather than the whole transaction.
Revolut Standard is an example of this structure: conversions are charged at 0% up to PLN 5,000 a month, then 1% (Revolut rate), meaning the rate changes once a certain monthly spend is reached. Other providers may apply similar caps to withdrawals rather than card payments, or apply no cap at all — it depends on the specific account, so checking the current terms before relying on a stated rate is worth doing.
ATM withdrawals abroad
Cash withdrawals in a foreign currency are usually treated separately from card payments, with their own fee structure and often their own free allowance. Some accounts offer a number of free withdrawals or a monthly free amount, after which a percentage fee or minimum charge applies.
Wise allows withdrawals under its own terms: „free up to PLN 1,000 a month, then 2.69% of the amount above”. Revolut’s structure is „up to 5 withdrawals or PLN 800 a month free, then 2% (min. PLN 5)”. bunq offers „first 6 withdrawals a month free, then a fee per bunq price list”. Among Polish bank accounts, mBank’s eKonto do usług lists withdrawals at „0 zł”, and Alior’s Konto dla młodych states „5 zł – 0 zł z aktywną korzyścią”, which suggests the fee may depend on meeting certain conditions on the account. These structures vary enough that assuming free withdrawals apply everywhere is not advisable.
- Wise Account: „free up to PLN 1,000 a month, then 2.69% of the amount above”
- Revolut Standard: „up to 5 withdrawals or PLN 800 a month free, then 2% (min. PLN 5)”
- bunq Elite: „first 6 withdrawals a month free, then a fee per bunq price list”
- mBank eKonto do usług: „0 zł”
- Alior Konto dla młodych: „5 zł – 0 zł z aktywną korzyścią”
Dynamic currency conversion at the terminal
At many payment terminals and ATMs abroad, a screen may ask whether to pay in the local currency or in złoty. This choice is known as dynamic currency conversion, and it lets the merchant’s terminal (rather than the card issuer or scheme) set the exchange rate on the spot.
These merchant-side rates are generally less favourable than the scheme’s own daily rate, though the exact difference varies by terminal and location. Choosing to pay in the local currency instead leaves the conversion to the card scheme and the issuer, following whatever fee structure applies to the card being used.
What to check before a trip
Before travelling or making a purchase in a foreign currency, it can help to check three things on the specific card or account being used: whether a conversion fee applies and how much it is, whether any fair-use cap exists on fee-free conversion, and what the withdrawal terms are for cash abroad.
It’s also worth checking who holds the funds and how they’re protected. Bank accounts opened in Poland, such as those from Millennium, mBank or Alior, fall under BFG protection up to [TO VERIFY: BFG guarantee limit]. Fintech accounts differ: Revolut and bunq operate as banks with deposit protection in their home countries, while Wise operates as an e-money institution, where funds are safeguarded rather than covered by a deposit guarantee scheme.
Questions
Is it always cheaper to pay in the local currency rather than in złoty abroad?
Generally, letting the card scheme set the exchange rate tends to work out more predictably than accepting a merchant terminal’s own conversion, though the exact difference depends on the terminal and the card’s own fee structure. Checking the specific provider’s terms is the only way to know for certain.
Do all Polish bank accounts charge the same fee for foreign currency card payments?
No. Fees and exchange-rate structures vary by provider and even by account type within the same bank. Some accounts list a flat percentage fee, others state they apply the scheme’s own rate with no extra charge, and the wording used isn’t always directly comparable, so checking each account’s current terms is advisable.
What happens if I go over a fintech’s fair-use limit for currency conversion?
Typically, spending or withdrawals beyond the stated monthly threshold are charged at a higher rate or percentage on the amount above the limit, rather than the whole transaction. The exact threshold and rate depend on the specific provider and product.
This page describes products; it is not financial or investment advice. Check the provider’s current terms before opening an account.
