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What currency is used in Poland 0

What currency is used in Poland

Question: What currency is used in Poland

Answer: The local currency used in Poland is the Polish Zloty

More Information:

If you are travelling to Poland then the current local currency is the Polish Zloty which has been around since the middle ages. In more recent times the currency has gone through changes especially in the early 1990’s when inflation was high and the currency underwent redenomination which meant that 10,000 old zlotych became one polish zloty.

Over 400,000 British citizens travel to Poland every year and the majority of travellers take between five hundred and six hundred GBP converted into Polish Zloty currency cash with them. Due to the expansion of the Euro currency over the years Poland will join the Euro currency in 2015 or 2016, but politically this is still undecided and may also prove difficult due to the recent crises in Ukraine which has forced the Polish Zloty currency to decrease against the GBP, and the Euro this year giving visitors more for their money.

Despite this the Polish tourism board have been conducting new television adverts to help promote the country and how far it has come in recent years. If you plan on travelling to Poland for a holiday trip or business trip, then you are advised to use the local Polish Zloty currency as using the Euro will be difficult as most retailers and vendors do not accept the Euro currency in Poland. If you do use the Euro and find a retailer that accepts the currency the exchange rates will be very poor and it is most likely that your change will be given in Polish Zloty currency anyway.

If for any reason you come back from Poland with left over Polish Zloty currency you can always use our currency buy back service which compares all the buy-back suppliers in the UK which enables you to get the best deal possible on left over travel money. Going to Poland for a holiday or business travel? Why not compare the best exchange rates and suppliers for the Polish Zloty and if you have any further questions on currency please visit the compare holiday money forum to ask our currency experts about your questions.

Travel insurance buying tips 0

the-importance-of-travel-insurance

This is the second installment of a four part series on travel insurance and covers travel insurance tips. To start reading from the first part please take a look at part one – travel incurance

First if you are traveling in or through Europe (European Economic Area) then make sure you have a current EHIC. This is free from the NHS so DO NOT PAY for an EHIC. The genuine website is here .

It may be cheaper to have an annual policy than to buy multiple single trip policies in the same year. Make sure to use a comparison service to get a wide range of quotes. Nearly all the comparison services online use the same policy database making them give almost identical results. Don’t be swayed purely by price. The lower the price the less cover you have or the more likely your claim will be rejected.

If you are traveling in a group try and buy a policy that covers everyone. The more you buy at once the cheaper it often is but more importantly if you all have separate policies and one of you cannot travel for any reason the rest of the group will not be able to cancel the holiday and get your money back. If you have a single policy for everyone, in the same situation you could all cancel and get a full refund.

Tip: Take as much care of your property as if it were uninsured. If the insurer feels you contributed to the loss they may not pay out.

Cancelling or cutting your holiday short

There are countless reasons why you may have to cancel or abandon your holiday. A good quality policy should cover you for at least accident, illness, family bereavement, pregnancy (unknown when you buy the policy), jury service or witness summons, home emergency: fire, storm or flood, burglary, redundancy, strikes and extreme weather that affects the departure of flights and ships including volcanoes. You should ensure your policy will refund not only the cost of your holiday but other associated expenses such as excursions you have booked and prepaid and additional travel costs such as trains home or overnight accommodation if needed.

Food poisoning

This is one of the most common reasons for holiday illness. I fyou have travel insurance you can use the legal expenses element to try and claim compensation but if you don’t have that cover then you can use a ‘no win, no fee’ solicitor in this circumstance. Obviously this only applies if you did not cook the food yourself! ‘No win, No fee’ can also be used for any situation where someone elses action or lack of action caused you to become ill or injured. So if a pool was not cleaned properly and your children then get ear infections… and so on.

We have also put together some tips for travellers who want to go down this road. This should increase your chance to obtain compensation for your claim.

Collect as much evidence as possible about the hygiene standards, the quality of food and the general cleanliness of your hotel and resort as long as this is relevant to your claim.

Make a note of anyone else who is also ill and try and get contact details for them.

Make sure that your travel companies representative and hotel are aware of your illness during your stay and that you have witnesses of your condition.

Obtain the relevant evidence from any doctors or nurses that you see and ask for copies of all the forms you sign or are shown. If you cannot get copies then take photographs of them on your phone.

Keep a record your symptoms and discuss them with your doctor at home as soon as possible when you return.

Just remember that suing someone because your holiday was spoiled is not a replacement for travel insurance and if anything having the legal expenses element of the insurance means that you are not dependant on convincing a ‘no win, no fee’ solicitor to take your case.

School holidays during term time infographic 0

Following a recent clamp down by the government last year on the reasons why parents take their children out of school during school term time, we have come across a new infographic which goes into the debate about parents taking children out of school during school term time, rather than during the standard authorised school holidays. Please see below the school holidays during term time infographic from Travel Zoo which was published on Travel Weekly last month:

School holidays during term time infographic

One of the most surprising statistics from the school holidays during term time infographic was the 80% increase in the cost of flights between the dates of when private schools break up compared to when the public schools break up for school holidays.

We would be interested to know how many of our customers have taken their children out of school this year during term time and, when they did, how much do they think they saved in terms of the overall cost of the holiday, including travel spending money, compared to if they had taken their children out of school during the authorised school holiday calendar.

We would like to hear your comments and feedback by using the Facebook comment option at the bottom of this blog post. If you are looking to save money on your next holiday why not sign up to our special offers email newsletter where you will receive holiday discounts and offers on buying cheap currency for your next family holiday abroad whether it is during the school term time or not!

Best credit card to use abroad 0

Best credit card to use abroad

Following our exclusive blog article last month for the best debit card to use abroad Andrew Hagger from Money Comms has kindly put together another comparison table for the best credit card to use abroad with detailed figures on the fees that the credit card suppliers charge every time you either use the card for a transaction or cash machine withdrawal when you are abroad on holiday or for a business travel trip.

When you compare both the best debit card to use abroad and the best credit card to use abroad comparison tables you with notice that there are many more credit cards available, however, the majority of the credit cards are actually more expensive to use than your bank debit card. For example, if I used a Co-operative credit card in comparison with a Co-operative debit card I would be worse off. Please see below the best credit card to use abroad comparison table which is correct as of the 10th July 2014 so that you can compare your bank debit card with your credit card supplier’s charges and whether you would be worse off:

Best credit card to use abroad

Using our credit cards for transactions is a common thing of today’s cashless society and quite often people will go abroad with the view that it is much easier to either use your debit card or credit card for transactions, but what these comparison tables show us is that using your debit or credit card abroad is still quite expensive especially if you are carrying out many small transactions. It will of course depend on the type of holiday you have booked, so for example, with an full inclusive holiday you might not need to take so much spending money with you when compared to a half board or self catering holiday where you will be out and about spending money in the local area more often.

Just to give you an example which surprised me following my recent holiday to Crete this summer. I went on holiday for one week on a half board basis taking with me euro currency cash only. I didn’t use my debit card or credit card abroad as I knew that my Co-operative debit card would be more expensive for me to use every day whilst on holiday. I used my euro’s currency cash to pay for drinks and lunch in the hotel, for local busses, shopping at the local shops, paying for excursions and just general spending whilst I was out and about.

If I had used my debit card or credit card for every transaction I would have no doubt carried out at least four or five transactions per day which would have cost me a fair amount in the transaction fees or withdrawal fees every day. This is not to mention the exchange rates that banks or credit card suppliers will use to convert your currency back into British Pounds and this will depend on what type of card you have and whether it is a Visa or MasterCard. Not only is it still cheaper to take currency cash, but it does make it easier to pay for things with local suppliers when you are out and about. For example, local buses, taxis, food markets, gift shops and tipping staff at your local restaurant or café.

In conclusion if you are using your debit or credit card abroad then using it every day for card transactions or cash machine withdrawals will leave you worse off in comparison to shopping for your currency cash in advance. By purchasing your travel money in advance this gives you the added option of comparing currency suppliers and exchange rates. This allows you to have more control over your budgeting and the cost of your travel money. But we would always suggest having your debit or credit card as a backup just in case you under estimate your holiday spending money or you have an emergency. In the future we hope to provide more information to our customers on how much to budget for your holiday for each country and currency location.

If you are looking to buy currency or compare exchange rates for your holiday please use our currency comparison table which allows you to compare all of the top UK currency suppliers and the best exchange rates for your travel money. If you come back from your holiday with left over or unused currency then you can either keep it for your next holiday or sell back your currency by using our sister website Currency Buy Back which again allows you to compare all of the best buy back exchange rates and top UK buy back currency suppliers.

Keep Calm and Buy Pesos 0

keep calm and buy pesos

Today Argentina has defaulted on a portion of its national debt. What this means to normal people visiting Argentine in the immediate future is that the Argentine Peso is expected to fall in value. This means that if the predictions are correct then you will get more Pesos for your Pound next week than you will this week. If you are at all worried then your other option is to buy US Dollars and take them with you, changing the Dollars into Pesos on arrival.

Do not buy your currency from a street trader 0

_batman-slap-street-dealersThe world over there are street traders or money changers. I would like to think that most are honest but there are a disappointing large number of legal changers.

Even the ones that give decent rates and legitimate currency are just front men for the drugs, people trafficking and prostitution industries using you to launder their illegal earnings into untraceable currency.

In many countries using street money changers is a crminal offence and you can be arrested for using them because the authorities want to crack down on this form of money laundering.

The problem is compounded when you are dealing with a currency you are not familiar with. We probably have all seen Euros or US Dollars but even them we would be hard pressed to spot a fake. When you are faced with ‘used’ notes in a unfamiliar currency that you have very little of in your wallet already to compare like with like then your chances of spotting a forgery is almost zero.

If you are unlucky enough to accept a forged note then you are at greater risk of getting into legal problems if you try and spend it, even unknowingly. If all your travel money ends up being counterfeit then you could be in big trouble and your holiday could be ruined. it is entirely possible that your travel insurance will not cover you if they feel you have been in any way negligent.

You really must check the legal position of using street money changers before you leave and just remember that if the deal is too good to be true then it almost certainly not legitimate. The only real way to get the best exchange rates is to trade in millions of Pounds/Dollars/Euros and have the banks deal with you as an equal. The biggest currency houses can do this but I am not sure how a street corner dealer is going to manage it.

Travel Insurance 0

the-importance-of-travel-insurance

This is part one of a four part series on buying travel insurance, seeking compensation if things go wrong and the British Consular Service. We will be publishing one page a month during the summer 2014.

Firstly I would like to make it clear that we do not sell travel insurance. We do have a travel insurance page provided to us by Holiday Extras, but this is only to offer an easy route for our site users who need to buy travel insurance that suites them. What we are though is a Foreign Office “Know Before You Go” partner and like them we want you to have a great holiday and not have it turn into a nightmare.

Over the course of this series we will cover the official travel insurance advice and what to do if things go wrong, what embassies and consulates can and cannot do to help you and your options for getting compensation if things do go wrong.

A lot of people already have some form of cover provided by their credit card or bank account, as part of their home insurance and you should carry an EHIC (European Health Insurance Card) if you travelling in Europe. These often provide really minimalist cover and should not be considered an enough cover. If you needed to be brought back from the Canary Islands then you are looking at a bill of up to £16,000, from the USA then it could be anything up to £45,000. That is just the air ambulance costs your medical treatment would be on top of that. Your travel insurance exists only to protect you from these and other expenses should things go wrong.

The main expenses you are most likely to incur in an emergency are medical and health expenses should you be injured or simply fall ill. The cost of using the emergency services. You being sued should you cause an injury or damage property and the cost for replacing lost or damaged property. In an non-emergency then you are looking at being refunded for money you have paid out should your holiday be cancelled or if you need to return home early through no fault of your own.

Travel insurance is a commercial product and you can spend very little or you can spend a lot but when you do want to make a claim then that is when you will really tell the difference. These companies are not charities, they are there to make a profit. They balance the possible maximum you could claim for, the frequency that people make claims and try and set the premium so that the amount they have coming in is more than the amount they pay out. If you compare to policies and they appear to cover the same events with the same amount of cover but the prices are significantly different then the missing factor is probably how often the insurer actually pays out.

One way they [insurers] can avoid paying out is to exclude specific activities. When you get to the small print then you may find either that you need to pay extra if you want to be covered for jet skiing or that jet skiing invalidates your policy. Not so useful if you are on a water sports holiday.

On the other hand your policy should definitely cover you should something happen to your airline which is something completely outside your control. This is called SAFI or Standard Airline Failure Insurance. Over the past few years, during the recession, we saw many small airlines and travel agencies go bust. The UK may be out of recession but the Eurozone still has its problems so this is a must.

You do have a choice between a single trip policy which is what most people buy if they are only going on holiday once a year or an annual/multi-trip policy. What people don’t often realise is that if you have an annual policy it covers you for travel even within the UK. If you book a weekend away in Cornwall and then fall ill then you could claim on your annual policy. Dispite the name an annual policy is not the right policy for a gap year oran extended round the world trip. Annual policies have a maximum number of days you can be away from home either in a single trip or for the year in total.

I am not going to detail every possible type of insurance you can get or the merits of each type, needless to say there are specialists for every niche from students to cruising. Just bear in mind that most policies will exclude any alcohol related incident (or drugs for that matter), if the insurer thinks you contributed to your loss then they will not pay out, so take care of your belongings and only about half of the policies I looked at will cover you terrorism related losses and that includes delays at the airport for bomb scares not just being the direct victim of an attack!

Best debit card to use abroad 0

Best debit card to use abroad

We pretty much live in a cashless society today what with the surge of online shopping and self checkout tills at the supermarkets. The majority of us are now used to using our debit cards or credit cards to pay for everyday things which is fine when we are at home.

However, going abroad for our holidays or business travel we can often incur hefty bank charges when we use our debit cards or credit cards whilst on holiday overseas which means we are no longer getting a good deal for our money and card transactions.

Andrew Hagger from Money Comms recently put together a useful comparison table for the best debit card to use abroad which was featured in a Guardian travel money article. Please see as follows the table which shows you what is the best debit card to use abroad as of the 2nd June 2014:

Best debit card to use abroad

As you will see above the majority of the big high street banking brands are towards the bottom of the table which shows they are not the best value debit cards to be using whilst overseas on holiday for your travel money requirements.

In fact only this month I purchased some travel money from the compareholidaymoney.com website and when I compared this to my own bank which is the Co-operative bank the debit card comparison table showed me that I would have been much worse off what with all the extra purchasing fees and withdrawal fees that they add on for overseas transactions.

The best debit card to use abroad comparison table is very useful, however, one area which it does not cover is what exchange rates your bank might be adding on top of these purchasing fees and withdrawal fees. Depending on what bank card you use you will either have a Visa debit card or Mastercard and to see what exchange rates they are using you can check the Visa exchange rates or the Mastercard currency conversion tool to see what your bank will use to convert your overseas transactions.

If you are lucky enough to be with either the Metro Bank or the Norwich and Peterborough building society they will not add any extra purchasing fees or withdrawal fees to your overseas transactions and then all you have to worry about is whether you are getting a good deal on your exchange rates. However, be careful of the Metro Bank debit card as you can only use it in Europe and not outside of Europe as some recent backpackers who went to Australia found out.

If your bank is on the best debit card to use abroad comparison table you may like to double check the information with your bank to make sure it hasn’t recently been updated and then compare the rates with our currency comparison table to see if you can get a better deal by taking cash with you instead. Just remember the more currency you buy the better deal you will get or you can opt to take some cash and pay for some holiday costs via your debit card depending on how you would prefer to manage your money whilst on holiday.

If you come back from your holiday with left over currency we have a buy back currency comparison table with compares all of the top UK currency suppliers to ensure you can find the best deal for selling your old unused travel money back.

Large Denomination Euro Notes 0

_batman-slap-robin-500-Euro

If you tried to buy a cream tea in a cafe in St. Ives with a £50 note not only would you be deeply unpopular but chances are they wouldn’t accept the note. We even say that you can spot a tourist as they have wads of £50s. If when you get your holiday money you see a load of €100 and €200 notes then you are not going to be happy. The reality is that these large denomination Euro notes are not a problem to spend. All of Europe is far more cash based than we are and their banks do not punish the small traders when they do discover a forged note (which is extremely rare) which is what UK banks do. If a small business here hands over a forged £50 note then it is the small business that takes the loss. That is why they don’t want these high value notes.

Over in the Eurozone though cash is used far more frequently than it is here and that means that the trader or cafe wil be holding a lot of cash and a lot of notes of all denominations. Believe me changing your €100 will not be a problem. This is a very British attitude and one you can lay to rest as just one of the things that the Europeans laugh at us about; a bit like drinking too much and falling asleep in the sun, another stereotypical British trait.

In my opinion I would rather have a €100 note in Paris than a £10 Scottish one in Penzance. You’ve got more chance of getting it accepted.

bos10

Compare Holiday Money Guide To Bitcoin pt 4 0

bitcoin-logo-plain

This is part 4 of our guide to bitcoin. If you would like to read part 1 then you can find it here Compare Holiday Money Guide To Bitcoin pt 1 or alternatively you can download the entire guide as a pdf Compare-Holiday-Money-Guide-to-Bitcoin

Part Four: Trading Bitcoins

If you had $1 worth of bitcoins and you did one trade a day, selling when the price started to drop and buying back when the price levelled off. If you made just a 3% gain each time, in one year you would have over $48,000.

First things first, you are unlikely to turn $1 into $48,000 in a year. The reason being that it nothing in this world is simply that reliable. Typically the bitcoin market moves between 0.3% and 20% each day but I have been watching it all day while I am writing this and it has only moved 0.43% today.

So how do you trade Bitcoin?

It is not that different to placing a classified really. You decide how much you want to sell. You then put a price on that and submit it to the market. This is a sell order. If you want to sell your bitcoin quickly you price it competitively. You can decide if you will allow people to buy just part of your order. Yours and all the other sell orders are available to look through at any time. Someone will then hopefully click on your sell order and buy it (or part of it).

If you want to buy bitcoin then you look through the for sale list which is listed with the cheapest offers at the top and click on the one(s) you want to buy.

Whether you are buying or selling the minimum trader value is $1 and you may have to pay commission of about 0.5%.

The over-arching beauty of all this is that if you get your bitcoins for free and you are only paying commissions on the trades you actually do you can never be out of pocket. The worst that can happen is that you sell your bitcoins just before the price goes through the roof and you miss the boat but then you haven’t really lost anything, you just didn’t make anything.

bitstamp

Anyway, that is the theory so here is the practice. You are going to need a market in which to trade and for that we have chosen bitstamp as they have offices in Aldermaston here in the UK. Many of the biggest bitcoin markets are based in china but then it was some of these that have gone bust recently so we chose to avoid them. It is free and quite easy to set up a bitstamp account but you will need to go through some additional security and just like any other brokerage you will need to provide proof of your identity and address. We did this by scanning our passports and a utility bill or bank statement and submitting them through the website. It then took three or four working days before we were approved. You cannot transfer funds into your trading account until you have been approved so while you are waiting you can relax and watch the markets if you wish. This approval process is all part of bitstamp’s anti-money laundering procedures.

Once you are approved you can transfer your bitcoins into your trading account by logging into your wallet and then sending the money to the address that bitstamp give you. Once they have appeared you are ready to start trading. As I said above you need a minimum of $1 worth of bitcoin to trade with and trading will mean selling your coin for US Dollars and then buying back more coin with the balance in your account. You just need to keep repeating this hopefully making a profit on each transaction. The commission starts at 0.5% but as your cash value in the past month increases the commission will drop eventually to just 0.2%.

So when should you trade?

Below is a market chart showing lots of confusing lines, blocks and red and green ‘flares’. I have labelled a particularly significant moment and will attempt to explain what is going on and how to read the chart.

markets

  1. At this point the price of bitcoins dropped suddenly and sharply. It is this that provokes what happens next. The price of the bitcoins or more accurate a µBTC is the yellow number on the far right in US Dollars.
  2. This block is the total volume of µBTC being traded. Because the price has suddenly dropped sharply lots of people are trying to trade bitcoins. The number in grey to far left is the number of millions of µBTC being traded.
  3. The green flare is the number of people placing ‘buy’ requests. People want to buy bitcoins when they are cheap so the drop in price has caused a lot of buy requests.
  4. The red flares below the line are sell requests. There is a small one directly below the price drop which was people trying to sell the bitcoin before it dropped too much in value and the another one a little while later when the bitcoin price started to rise and then plateau out.

There are really two strategies to try when trading. You can go big and slow or small and frequent.

Big and slow

You will probably do a single trade a day or every few days and you are waiting for a significant difference between what you paid for your coins and what you want to sell them for. When I took the screenshot above the price was $634 for a coin, today it is $608. If you had sold then and bought today you would have made 4.3% profit on the trade.

Small and frequent

The idea here is that as long at the difference between buy and sell prices are greater than the commission on the transaction then you are going to make a profit. It may be a tiny percentage but it is still a profit. To make it worthwhile you try and buy and sell your coins tens of hundreds of times a day and rack up a gain every time.

These two options are not mutually exclusive and there is no reason why you cannot just do one or two trades during the week when you are buy and then many trades over a weekend when you are around to watch the markets.

We cannot guarantee that you will trade at a profit and we cannot guarantee that bitcoins will become worth millions of Dollars but all the advice we have given here we have used ourselves and continue to do use it now.

Later on this year we will post a follow up and let you know how we have got on…

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