Banks take up to 4% during currency exchange: how Ukrainians can save money.

Ukrainian refugees in European Union countries face problems exchanging money due to various banking rules and commissions. The European Commission has created temporary mechanisms to facilitate conversion, but national peculiarities and hidden costs continue to create financial problems for refugees.

Pan-European currency exchange mechanisms

According to the directives of the European Commission, refugees from Ukraine can exchange up to 10,000 hryvnias per person without commissions at the rate of the National Bank of Ukraine. This helps avoid currency speculation and ensure financial stability during mass displacement of citizens.

Poland and the Czech Republic

Ukrainians are advised to pay in local currency (zloty or crown) to avoid unnecessary conversion costs.

Optimizing currency operations for refugees

Financial analysts suggest the following strategies to reduce currency exchange costs:

1. Use euro bank cards for sequential conversion of hryvnias to euros, and then to local currency;
2. Use online services that offer more favorable rates and low commissions;
3. Avoid cash withdrawals through ATMs due to additional commissions;

When carrying out operations, it is important to consider that transactions over 400,000 hryvnias require identification by presenting a passport. It is also advisable to keep receipts of the exchanges made.

Exchange rate dynamics forecasts for 2025-2026

Analysts predict the following currency rate corridors relative to the hryvnia:

• US dollar: 41.20-42.50 UAH;
• Euro: 42.30-43.90 UAH;
• Polish zloty: 10.25-10.55 UAH;

Currency dynamics are influenced by trade relations between the EU and the US, as well as the fight against money laundering.

In the future, new rules and systems in the currency sector are planned to be implemented.

Comparative analysis of commissions in EU countries

Currency exchange commissions vary significantly depending on the country and conversion channel:

• In Germany, banks charge 1.5-3%, exchange offices – 0.5-1%, online services – 0.1-0.3%;
• In Poland, bank commissions range from 2-4%, exchange offices – 1-2%, digital platforms – 0.2-0.5%;
• In Belgium, commissions are 1-2%, 0.7-1.5%, and 0.15-0.4%, respectively.

To minimize costs when exchanging currency, it is recommended to open multi-currency accounts in euros, use official exchange channels, and monitor exchange rate dynamics through specialized mobile applications.