Send money from Australia to Poland in euro
Grey does not convert to zloty. What reaches Poland is a euro credit into the recipient's Polish IBAN through SEPA, and their own bank converts it if they want zloty. PKO Bank Polski, Bank Pekao and mBank are supported, and the rate and the fee are shown before you confirm.
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Read this part first: euro, not zloty
Grey does not pay out in Polish zloty. A transfer from Australia to Poland arrives as a euro credit into the recipient's Polish IBAN through SEPA, and if they want zloty, their own bank in Poland converts it at that bank's rate. That second step belongs to them, not to you, and it is the single most important thing to understand before you send anything.
The arrangement suits some people very well and others not at all. It works where the recipient holds a euro account, which plenty of Poles do, where the cost being paid is quoted in euro, or where the money is going to sit rather than be spent this week. It works less well for a small monthly amount to a grandmother who banks only in zloty, because she meets her bank's conversion at the other end and you cannot see that rate from Australia.
Australia's Polish community is substantial and long settled, built largely by post-war arrivals and their descendants across Melbourne, Sydney and Adelaide. Much of what it sends now is property, estate and professional money rather than monthly support, which is part of why the euro route fits this corridor better than it would fit a newer one.
Three steps to a Polish IBAN
Open the account
Free, five minutes or so, and one valid identity document. Verification happens once, before you have to think about the Polish side at all.
Fund a balance
Grey holds no Australian dollar balance. You send from US dollars, provided by Lead Bank, or from pounds or euro, funded by money arriving in those currencies or moved from an account that already holds them.
Send euro to Poland
Enter the Polish IBAN, check the euro figure and the fee at confirmation, and send. The euro credits the account through SEPA, typically within minutes from a funded balance.
What it costs, and where the second cost sits
There is a second cost on this corridor that belongs to the recipient's bank rather than to Grey. If they convert the euro into zloty, that bank applies its own rate and whatever it charges for doing so, and Grey has no visibility of either number.
Which is why the honest advice is to have the conversation before the first transfer. If the person in Poland holds a euro account, there is no second cost at all. If they do not, it is worth them asking their bank what converting a euro credit costs before you settle into a routine.
The euro rate is fixed at confirmation
The rate Grey shows you converts your balance into euro, and it is fixed at the moment you confirm. The euro amount on screen is the euro amount that credits the Polish account.
What Grey cannot fix is the zloty figure, because Grey is not the one producing it. Where your recipient converts, that number comes from their bank on the day they do it. Send euro amounts where euro is what is actually wanted, and the uncertainty disappears entirely.
Grey against an Australian bank transfer to Poland
An Australian bank will normally send zloty at a rate it does not explain, or send euro and charge international wire fees for the privilege. The same bank clears an Osko payment between two Australian accounts in seconds on a phone number. Grey sits closer to the second experience than the first: one conversion into euro from your funded balance, a SEPA credit into the Polish IBAN, and both the rate and the fee shown before you confirm. The trade off is genuine and this page states it rather than burying it. What arrives in Poland is euro.
What arrives in Poland
No Grey account is needed by your recipient. A euro credit lands in their Polish account through SEPA and appears as a normal incoming payment.
Polish banks
PKO Bank Polski, Bank Pekao and mBank are among the banks supported. You enter the Polish IBAN and the euro credits that account.
The conversion is theirs
If they want zloty, their bank converts the euro at its own rate. Some Polish accounts hold euro directly, in which case nothing is converted at all.
Grey to Grey
Between two Grey users a GreyTag transfer is free and instant, in whichever currencies each side happens to hold.
Getting the money into Grey
Australian dollars do not sit in Grey, so a Polish transfer is funded from US dollars, pounds or euro. On this corridor there is a strong argument for making that euro.
Income in foreign currency
Your Grey US dollar account, provided by Lead Bank, has its own account details for an overseas employer or client to pay into.
Bringing euro across
Euro held in another account can be moved into the Grey euro balance, after which nothing is converted on the way to Poland at all.
What is already in the balance
Money already held in Grey can go the moment you have the IBAN in front of you, without waiting on a deposit.
Holding euro is the single change that makes this corridor cheap. It removes Grey's conversion entirely, and if the Polish account also holds euro, it removes the recipient's bank from the question as well.
What Australians send to Poland for
Property and renovation
Flats in Krakow, Wroclaw or Warsaw bought, kept or done up from Australia, where the costs are frequently quoted in euro in any case.
Estates and family shares
Settling what a Polish parent or grandparent left behind, and sending a relative still in Poland their part of it.
Professional fees
Lawyers, notaries and accountants handling a Polish matter, who are used to being paid in euro and often prefer it.
Family support
Money to parents and older relatives. This is the use where the euro credit deserves a conversation first, because their bank does the converting.
Four uses, and the euro arrangement suits three of them comfortably.
Five things to weigh up
Ask the person receiving it one question: does their Polish account hold euro. If it does, this route is about as direct as it gets. If it does not, ask what their bank charges to convert a euro credit, and then decide.
Opening a Grey account is free, takes about five minutes and needs a valid identity document. Grey serves more than 80 countries, holds US dollar balances provided by Lead Bank alongside pounds and euro, and issues a virtual Mastercard. Transfers are encrypted and tracked from confirmation through to settlement.
FAQs
Does Grey pay out in Polish zloty?
No. What reaches Poland is a euro credit into the recipient's Polish IBAN through SEPA, and their own bank converts if they want zloty.
Who converts the euro into zloty?
The recipient's Polish bank, at that bank's own rate. Grey has no visibility of that rate or of what the bank charges.
Who does a euro credit to Poland suit best?
Recipients holding a euro account, euro quoted property costs, and Polish lawyers or notaries who are already used to being paid in euro.
Which Polish banks can Grey send euro to?
PKO Bank Polski, Bank Pekao and mBank are among the banks supported. You enter the Polish IBAN in the app.
Can I fund a Polish transfer with Australian dollars?
No. Grey does not hold Australian dollars, so you send from US dollars, provided by Lead Bank, or from pounds or euro.
What is the cheapest way to send to Poland on Grey?
Hold euro. There is then no conversion by Grey at all, and if the Polish account holds euro, none at their end either.
How long does a euro credit take to reach a Polish account?
Transfers from a funded Grey balance typically arrive within minutes, because the euro travels through SEPA rather than as an international wire.
Is the euro figure fixed before it credits the Polish IBAN?
Yes. The rate is fixed at confirmation, so the euro figure on screen is what credits the Polish IBAN.
Does my mother in Poland need a Grey account?
No. The euro credits her existing Polish bank account, and she needs nothing from Grey to receive it.
Should I send euro if my grandmother banks only in zloty?
Ask her bank what converting a euro credit costs first. That second conversion is hers, and you cannot see the rate from Australia.
What if my relative in Krakow also uses Grey?
Use GreyTag. Transfers between two Grey accounts are free and instant, in whichever currencies each of you holds.
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